NEW YORK, June 25, 2026 (GLOBE NEWSWIRE) -- Frontier Power USA ("FPUSA" or the "Company"), a long duration energy storage development and investment platform, today announced that it has engaged KKR Capital Markets LLC ("KCM") to act as structuring agent and arranger for the Company’s debt financing program. KCM is a full-service capital markets platform providing customized capital raising and financing solutions across equity, debt, structured products and real estate markets. KCM has arranged more than $2.5 trillion in financing globally since its inception in 2007.

The engagement of KCM represents a key step in establishing a comprehensive capital framework to support FPUSA’s business plan. Together with the Company’s existing capital commitments — including a $100 million equity investment from certain funds and accounts managed by Cerberus Capital Management, L.P. ("Cerberus") and contributions from Eos Energy Enterprises, Inc. (NASDAQ:EOSE) ("Eos"), to be funded via a previously announced rights offering — FPUSA is building the financial capacity required to accelerate the deployment of utility-scale long-duration energy storage projects across the United States.

FPUSA has been purpose-built as an independent development and investment platform to build, own and operate a diversified portfolio of long-duration battery energy storage systems, integrating technology, capital and risk management into a single execution model. The Company intends to leverage Eos’ vertically integrated technology stack alongside Cerberus’ institutional capital and operating expertise to address the historic execution and financing constraints that have limited large-scale deployment of long-duration storage infrastructure.

Under this mandate, KCM will work closely with FPUSA to seek to arrange and structure a comprehensive financing package across bank and institutional markets, including construction financing, tax equity investment, tax credit-related financings, and long-term project finance solutions. FPUSA and KCM will also design a programmatic financing approach, with the objective of supporting efficient, repeatable access to capital across the Company’s project pipeline.

FPUSA intends to pursue a range of financing solutions, expanding the capital sources available to support the long-term ownership of its assets and optimizing the cost of capital across its portfolio.

The financing strategy is underpinned by FPUSA’s previously announced technology performance insurance ("TPI") framework arranged with Ariel Green, consisting of an approximately $1.5 billion, project-based, 15-year non-cancellable policy. This performance wrap is designed to enhance project bankability and support the achievement of investment-grade financing characteristics by mitigating technology performance risk across the underlying asset base.

Aaron Maczonis, Managing Director at Cerberus, said:

"The engagement of KCM reflects FPUSA’s focus on building an integrated and scalable financing platform alongside our development and operating capabilities. Our objective is to combine institutional equity, structured debt solutions and risk mitigation into a cohesive capital stack that can support deployment at scale across FPUSA’s portfolio. With this engagement FPUSA is better positioned to access a broad and deep pool of capital across bank and institutional markets while maintaining flexibility in execution across individual projects."

About FPUSA

FPUSA is a long-duration energy storage development and investment platform focused on accelerating the deployment of utility-scale battery infrastructure across the United States. Formed through an anchor investment by funds and accounts managed by Cerberus, the platform integrates development, committed manufacturing capacity, institutional capital, and insured performance under a single banner, allowing development-stage pipelines to convert into construction-ready assets and compressing the time from project commitment to commercial operation. Learn more at frontierpowerusa.com.

Forward-Looking Statements

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" or "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on FPUSA’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Forward-looking statements contained in this announcement are made as of this date, and FPUSA undertakes no duty to update such information except as required under applicable law.

This press release is for informational purposes only and shall not constitute an offer to sell or issue, or the solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Nothing in this press release should be construed as a recommendation, investment advice, tax advice, legal advice, credit rating opinion, or a representation that any financing will receive a particular rating or achieve any particular credit characteristics.

KCM’s engagement does not constitute a commitment by KCM or any other person to provide, arrange, underwrite or purchase any financing, and any financing will be subject to market conditions, diligence, approvals, definitive documentation and other conditions.

Contact information:

support@frontierpowerusa.com

Frontier Power USA Engages KKR Capital Markets to Support Scaled Deployment of Long-Duration Energy Storage