Why Eos Energy Stock Jumped Today
Shares of Eos Energy Enterprises (NASDAQ: EOSE) climbed more than 8% on Tuesday after the battery technology company announced plans to expand its manufacturing capabilities to meet the surging demand for artificial intelligence (AI) power sources.
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Eos was awarded a $24 million incentive package by Pennsylvania Governor Josh Shapiro and Allegheny County to help it build a new battery manufacturing plant in Marshall Township, Pennsylvania, and a software hub in Pittsburgh. The projects are expected to bring 1,000 high-paying jobs to Pennsylvania and bolster the efficiency and scalability of Eos' production operations.
Source Fool.com
