Tesla Has a New Public Competitor in Power Storage

Tesla has a new publicly traded competitor for its battery-based electricity-storage business.

Eos Energy Enterprises completed its merger with a special-purpose acquisition company, or SPAC, on Monday, and began trading on Tuesday under the ticker EOSE. Both companies offer the ability to store power produced by renewable but unpredictable assets such as solar power so that it can be used when demand is the highest.