Eos Energy secures $125M; NJ climate bill faces debate

Edison-based Eos Energy Enterprises secured $75 million in equity from Hudson Bay Capital Management to support its Frontier Power USA subsidiary. The firm also committed an additional $50 million directly into the project, totaling $125 million for zinc-based long-duration energy storage.

State lawmakers advanced a climate bill requiring fossil fuel companies to fund up to $50 billion in resilience projects. While the legislation cleared the Senate Budget Committee, several Democratic co-sponsors voiced reservations about the measure despite bipartisan opposition.

In related industry news, Craig Glazer is set to retire as PJM's vice president of federal government policy effective December 2026 after serving on the executive team for 26 years. Meanwhile, Princeton Plasma Forge aims to turn plasma research into startups that advance clean energy and semiconductors.

Drivers in New Jersey currently pay an effective state gas tax burden of just 7.24 cents per gallon. This rate ranks as the second-lowest in the country despite a statutory rate of 42 cents, creating a gap wider than any other state.