The company is strengthening its product offerings by getting closer to a peer.
According to data compiled by S&P Global Market Intelligence, EOS Energy (EOSE -5.60%) cruised to a nearly 10% gain this week. This was the second week in a row the stock managed an outsized gain for its shareholders, with much of the increase coming on the back of a new business partnership it signed.
United with Unico
That tie-up, announced Monday morning, gave EOS a nice lift across the subsequent trading days. EOS and high-performance power electronics manufacturer Unico divulged that they have formalized their collaboration by signing a multiyear partnership arrangement.
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EOS, which specializes in next-generation battery energy storage systems (BESS), will use Unico’s latest power conversion products in its systems.
In the press release touting the collaboration, EOS’s senior vice president of storage systems engineering Pranesh Rao was quoted as saying that Unico’s technology in EOS’s offerings would provide clients with “one of the safest, most scalable, efficient, and sustainable energy storage options available.”
Good timing
That news came amid generally positive sentiment for the energy storage systems segment. Especially with the precipitous rise of artificial intelligence (AI) functionalities, there is a sharply growing need for energy generation and storage improvements. It seems apparent that EOS, with this partnership, is actively seeking to bolster the technology it can offer in the effort.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.