$Eos Energy Enterprises Inc.(EOSE)$ Iceberg Research published a shortseller report on 14 January. The report alleges:
- EOSE's customers lack commercial substance
- The company's zinc-battery technology cannot compare with mainstream lithium-ion battery storage technology
- Even though the company has been around for 12 years, it has been unable to commercialise its product.
Iceberg believes that EOSE's equity is only worth its net assets ~USD 144m.
Sell-side analysts have called the report rubbish. They believe the business opportunity for EOSE is huge because of the US's push into green energy alternatives. Analysts also believe Iceberg has not accounted for the affordability of zinc-batteries over lithium-ion batteries.
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