PITTSBURGH — Late last month, western Pennsylvania–based Eos Energy Enterprises announced a smooth leadership transition, with longtime nonexecutive Chairman Russ Stidolph stepping aside and energy industry veteran Joseph Nigro assuming the role to guide the company’s next phase of expansion. The move comes as demand for energy storage has surged, driven by the rapid buildout of artificial intelligence data centers and broader electrification efforts across the region and the country.
Over the past decade, Eos Energy Enterprises has evolved from a startup concept into a key player in the new generation of energy-adjacent manufacturing that supports the growth of AI. In October, the company announced it would relocate its corporate headquarters from New Jersey to Pittsburgh’s North Side while expanding its production footprint with a 432,000-square-foot facility in the surrounding northern suburbs.
Eos manufactures zinc-based energy storage systems and already sources more than 92% of its supply chain from within the United States. During a tour of the company’s original Turtle Creek facility this spring, CEO Joe Mastrangelo told me, “I am committed to getting that number to 100 percent.”
Like many manufacturing CEOs, Mastrangelo supports the president’s tariffs, arguing that they are necessary for American companies to compete against foreign rivals whose governments subsidize losses to dominate global markets. In his view, tariffs are the only realistic way to counter that distortion and ensure that American manufacturing can survive and grow.
That success has been reflected on Wall Street, with the company’s stock up nearly 3.5% and climbing, and TradeCaster naming it one of the top three power-grid stocks to watch on Monday.
Its success comes as the lithium battery market, now overwhelmingly dominated by Chinese production, has been weighed down for the past three years by a supply glut and weakening demand. Sen. Dave McCormick (R-PA), who toured the company’s Turtle Creek plant last year ahead of the expansion announcement, said tariffs are ultimately about restoring fairness.
“It’s that simple,” he said.
At the time, McCormick said if fairness is achieved, the Main Street economy will not just stabilize, but grow and be great.
“And the stock market will follow,” he said.
DAVE MCCORMICK PENS INAUGURAL LETTER TO PENNSYLVANIA VOTERS
On Tuesday, President Donald Trump took credit for the Dow Jones Industrial Average hitting an all-time high, arguing tariffs were the driving force behind the rally.
“The USA markets just hit another ALL TIME HIGH – ALL OF THEM!!! THANK YOU YOU MISTER TARIFF!!!” he wrote.