Waaree Technologies Ltd. and 3DBattery Ink MoU for Cutting-Edge Energy Storage Solutions
Waaree Technologies Ltd. (WTL) and the Israeli company 3DBattery have signed a non-binding Memorandum of Understanding (MoU) to work together on the development and manufacturing of advanced energy storage solutions.
The partnership is focused on 3DBattery’s lithium-ion and soon-to-be sodium-ion technology, and further assessment of the partnership will be conducted before a definitive agreement is signed. The partnership with 3DBattery will enable Waaree Technologies Ltd. to produce high-performance, rechargeable energy storage solutions domestically, thereby strengthening its position in the Indian and international new energy domains.
3DBattery is a leading manufacturer of high-tech Lithium-ion battery cells with state-of-the-art chemistry that give improved energy storage performance. The firm offers a range of cell chemistries for applications including Micro Mobility, Stationary and Renewable Energy, and Electric Vehicles.
“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.”Commenting on the partnership Kirit Doshi, Chairman & Managing Director, of the Company said
He emphasized the strategic importance of developing capabilities for 5GWh of battery cell production by utilizing 3DBattery’s lithium-ion and sodium-ion battery technology. Doshi emphasized the importance of reducing dependency on a single source and diversifying supply chains.
“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.”He stated
Waaree Technologies Ltd. is a public limited company that is a subsidiary of Waaree Group, a conglomerate with a presence in the solar, instrumentation, and energy storage sectors. Waaree Technologies Ltd. is mainly involved in the manufacturing and supply of solar systems, such as solar panels, inverters, batteries, and water pumps. It also provides solar EPC (engineering, procurement, and construction) services through its subsidiary, Waaree Renewables Technology Limited.
About Waaree Technologies Ltd.
Waaree Technologies Ltd. was incorporated on June 28, 2013 and has its registered office in Mumbai, Maharashtra. It has an authorized share capital of INR 12.00 crore and a paid-up capital of INR 10.77 crore. Waaree Technologies Ltd. claims to be India’s largest solar manufacturer with a capacity of 12 GW and has successfully installed over 10,000 solar projects across the country. Waaree Technologies Ltd. also offers lithium-ion batteries for various applications, such as forklifts, e-bikes, e-rickshaws, telecom and UPS.