Wednesday, February 21

Waaree Technologies signs MoU with Israeli Company 3DBattery to develop Advanced Energy Storage Solutions

Waaree Technologies Ltd. (WTL), an energy storage division of the leading renewable energy and technology player Waaree Group, announced that it has signed a non-binding Memorandum of Understanding (MoU) with Israeli company, 3DBattery, to develop and produce advanced energy storage solutions, based on 3DBattery’s lithium-ion and upcoming sodium-ion technology. The Parties will evaluate the collaboration further before entering into definitive agreement.

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 Ltd. 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 Mr. Kirit Doshi, Chairman & Managing Director, of the Company, said

“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.”

Through collaborations with global players in the renewable & new energy storage space, 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.

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