Rosatom's Storage Department Takes 49% Risk in Korean Energy Storage Firm

Mar 9, 2021 12:38 PM ET
  • RENERA LLC a part of Rosatom State Corporation, has concluded the deal to get a 49 percent share of Enertech International Inc, a South Korean manufacturer of electrodes, lithium-ion storage cells, and energy storage systems.

RENERA manufactures energy storage systems based on lithium-ion batteries for special equipment, telecommunications systems, uninterruptible power supplies, energy storage systems, electric transport, railways, as well as other areas.

The authorized contract also includes building a center for producing lithium-ion cells and also energy storage systems in Russia, with a minimum of 2 GWh manufacturing capacity by 2030. The first stage of manufacturing is scheduled for 2025. Russian Lithium-ion batteries will be used in electrical vehicles (EVs), unique equipment, as well as power grids.

Collaboration with the Korean companion is a part of ROSATOM's calculated growth of non-nuclear services. Energy storage is an end-to-end technology in ROSATOM's portfolio of brand-new organizations.

Speaking of the collaboration, President of TVEL Fuel Company, Natalia Nikipelova stated, "The alliance with the technological partner is a purposefully crucial turning point for the development of Rosatom's energy storage business. This will certainly raise manufacturing capability, significantly enhance our know-how and applications based on lithium-ion batteries and likewise promote accessibility to foreign markets.

"In addition, neighborhood production web content in Russia means not simply brand-new modern technologies and also products, however likewise brand-new jobs", Natalia included.

The establishment of a first-rate battery production venture in Russia would additionally come to be a landmark occasion for the nationwide automobile industry, the business claims. The deal has actually been followed with the purpose to decrease dependence on imports, linked business risks, and as the outcome, reduced cost of the final products can end up being a motivation for production growth and also extensive introduction of Russian-made electrical transportation.

According to Bloomberg forecasts, the yearly demand for lithium-ion batteries in the next 10 years will certainly grow 10 times as well as by 2031 will amount to more than 2,000 GWh.

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