Grant Expense, Net

6 Months Ended

Jun. 30, 2022

Other Income and Expenses [Abstract]

Grant Expense, Net

Grant Expense, Net

From time-to-time, the Company has entered into grant agreements with the California Energy Commission (“CEC”) for conducting studies to demonstrate the benefits of certain energy-saving technologies to utility companies and consumers in the State of California. Under such agreements, the Company is entitled to receive reimbursement of costs incurred by the Company covered by the grants.

For the three and six months ended June 30, 2022, grant (income) expense, net was $(169) and $4, respectively. For the three and six months ended June 30, 2021, grant (income) expense, net was $(52) and $(44), respectively.

For the three and six months ended of June 30, 2022 and 2021, Eos has received no payments from the CEC. As of June 30, 2022 and December 31, 2021, the Company had grant receivables in the amounts of $1,250 and $1,020 which were included in other current assets, and deferred grant income of $183 and $—, which was included in accrued expenses on the condensed consolidated balance sheets, respectively. The expenses incurred by the Company related to the performance of studies in accordance with the respective grant agreements are offset, against the grants revenue received or receivable from the CEC for which the grant is intended to compensate the Company.