CellCube's Flow Batteries Recieve Munich Re's Bankable Insurance

• CellCube can currently supply their vanadium redox flow batteries (VRFBs) including a bankable insurance to assure for item as well as efficiency precision.
• Under its trademark 'CellCube' the Austrian based Enerox GmbH creates, makes as well as distributes vanadium redox flow batteries.

A legal collaboration with Munich Re (Muenchener Rueckversicherungs-Gesellschaft AG) equips Enerox GmbH (CellCube) with the choice to supply their vanadium redox flow batteries (VRFBs) including a bankable insurance to assure for item and efficiency precision, CellCube introduced in a current declaration.

Under its trademark 'CellCube' the Austrian based Enerox GmbH establishes, produces as well as distributes vanadium redox flow batteries.

The company's consumers might selected this added asset of a lasting efficiency warranty from Munich Re for one decade, as well as have the possibility of a re-certification to prolong the protection for another decade, added CellCube. This is focused on giving a continuous operation level, insuring against breakdown, and also covering going beyond fixing or replacement expenses, problems in workmanship along with producer's prospective insolvency.

The spread of decarbonizing technology expands, so do competition as well as expense stress and the commercial reality develops a veritable demand for adequate insurance as well as bankability in this area. "When it involves releasing environment-friendly as well as long-duration power storage space, securities and assurances for high upfront investments and prepared earnings end up being significantly important for our customers, especially when service cases include seller risks", states Alexander Schoenfeldt, Chief Executive Officer of Enerox, "Munich Re's coverage guarantees our systems' efficiency in any way times over their lifecycle, made for and commonly going beyond two decades."

In South Africa, Enerox will certainly be providing a 1MW/4MWh CellCube solution to a project financed solar and also storage minigrid project at the Bushveld Vametco mining and processing center in Brits, South Africa. "The Munich Re insurance product has actually assisted us in getting this project over the line in terms of bankability with the project shareholders, the lending institutions, and the project EPC/O & M companion", states Mikhail Nikomarov, CEO of Bushveld Power, and also continues "It creates considerable convenience around the lasting performance of the VRFB technology in general, as well as of CellCube's item particularly. As a result, it has actually minimized both the threat and also the expense of financing this project."