HI-Power borrows additional amount, raises financing agreement to $11.2 million

Chicago, Sept. 30 – Eos Energy Enterprises Inc. subsidiary HI-Power, LLC borrowed an additional $4.2 million by entering into an equipment financing schedule with Trinity Capital Inc., according to an 8-K filing with the Securities and Exchange Commission.

The total borrowings on the financing agreement are now $11.2 million.

Proceeds will be used to finance the acquisition of certain equipment and other property, approved by Trinity.

Monthly payments will be made based on the Prime rate.

The company is based in Edison, N.J.

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