Grant Expense, Net

6 Months Ended

Jun. 30, 2021

Other Income and Expenses [Abstract]

Grant Expense, Net

Eos was approved for two grants by the California Energy Commission (CEC) totaling approximately $7,000. In accordance with the grant agreements, Eos is responsible for conducting studies to demonstrate the benefits of certain energy-saving technologies to utility companies and consumers in the State of California and is entitled to receive portions of the grants based upon expenses incurred.

During the three months ended June 30, 2021 and 2020, Eos recorded grant (income) expense, net of $(52) and $263, respectively, which comprised of grant income of $648 and $209 and grant costs of $596 and $472. During the six months ended June 30, 2021 and 2020, Eos recorded grant (income) expense, net of $(44) and $609, respectively, which comprised of grant income of $977 and $209 and grant costs of $933 and $818. For the three and six months ended June 30, 2020, Eos received payments of $1,376 from the CEC. The Company did not receive any payments from the CEC for the three and six months ended June 30, 2021.

As of June 30, 2021 and December 31, 2020, the Company had $232 and $1,136 of deferred grant income, which were recorded in accounts payable and accrued expense on the Balance Sheets, as well as a receivable in the amount of $204 and $131, respectively. The expenses incurred by Eos relate to the performance of studies in accordance with the respective grant agreements, and the grants received or receivable from the CEC are recorded as an offset to the related expenses for which the grant is intended to compensate the Company.