Waaree Technologies has signed a non-binding Memorandum of Understanding (MoU) with Israeli company, 3DBattery to develop energy storage solutions.
The partnership between Waaree Technologies and 3DBattery to undergo the development and production of advanced energy storage solutions. The energy storage solutions will be based on 3DBattery’s lithium-ion and upcoming sodium-ion technology.
3DBattery provides advanced Lithium-ion battery cells with state-of-the-art chemistry, delivering improved energy storage performance. The company offers a range of cell chemistries for a variety of applications, including Electric Vehicles, Micro Mobility, Stationary and Renewable Energy.
Waaree Technologies aims to become India’s leading “Cell to System” technology company, offering reliable, affordable and high-quality energy storage solutions.
The synergy between Waaree’s manufacturing capabilities, and 3DBattery’s robust R&D capabilities, will usher in a bold, new era for the renewable energy storage sector. Through the collaboration, Waaree Technologies Ltd. will gain the capability to indigenously manufacture high-performance, rechargeable energy storage solutions, thus significantly strengthening the company’s position in the Indian, and global, new & energy domain.
Commenting on the partnership Kirit Doshi, Chairman & Managing Director, of the Company, “We are excited to welcome 3DBattery on board as a partner. Their immense R&D capabilities, coupled with Waaree’s capabilities in manufacturing new energy solutions, will certainly pave the way for a paradigm shift in energy storage. Leveraging 3DBattery’s path-breaking lithium-ion and sodium-ion battery technology will enable us to build capacities for 5GWh of battery cell production. Given the growing awareness of the need to diversify supply chains and reduce dependency on a single source, our ability to produce the first fully Indian-manufactured next-generation battery system assumes a special significance. Through this partnership, Waaree will be equipped with the capability to serve every segment of the energy storage market, and to become a driving force in the global clean energy transition.”
Waaree Technologies Ltd. reinforces its commitment to manufacturing, and driving the adoption of, new-age technologies that will reshape the world’s energy landscape and pave the path towards Net-Zero.
The Parties will evaluate the collaboration further before entering into definitive agreement.