Dive into this game-changing alliance, set to reshape the renewable energy landscape and accelerate the global transition to clean energy.
Waaree Technologies Ltd. (WTL) made a significant announcement in the business world. The company disclosed that it has entered into a non-binding Memorandum of Understanding (MoU) with the Israeli firm, 3DBattery, aimed at collaboratively developing and manufacturing cutting-edge energy storage solutions. These solutions will be built upon 3DBattery’s advanced lithium-ion technology and their upcoming sodium-ion technology. However, it’s important to note that the Parties will conduct further evaluations before committing to a definitive agreement.
3DBattery has made a name for itself by providing advanced lithium-ion battery cells that incorporate state-of-the-art chemistry, resulting in superior energy storage performance. The company’s product portfolio includes various cell chemistries tailored for a wide range of applications, including Electric Vehicles, Micro Mobility, Stationary, and Renewable Energy solutions.
Waaree Technologies Ltd. is steadfast in its mission to establish itself as India’s premier “Cell to System” technology company, dedicated to offering dependable, cost-effective, and high-quality energy storage solutions. The synergy arising from the collaboration between Waaree’s manufacturing prowess and 3DBattery’s robust research and development capabilities is poised to usher in a transformative era for the renewable energy storage sector. This partnership will enable Waaree Technologies Ltd. to domestically manufacture high-performance, rechargeable energy storage solutions, substantially reinforcing its position in both the Indian and global markets within the new and renewable energy domain.
Kirit Doshi, the Chairman & Managing Director of Waaree Technologies Ltd., expressed his enthusiasm for the partnership, stating, “We are excited to welcome 3DBattery on board as a partner. Their immense R&D capabilities, combined with Waaree’s manufacturing expertise in new energy solutions, will undoubtedly lead to a paradigm shift in energy storage.” Doshi further elaborated that this collaboration would enable them to build capacities for producing 5GWh of battery cells, highlighting the importance of diversifying supply chains and reducing reliance on single sources. He emphasized that their ability to produce the first fully Indian-manufactured next-generation battery system holds special significance. Through this partnership, Waaree is poised to serve every segment of the energy storage market and become a driving force in the global transition toward clean energy.
By engaging in collaborations with global players in the renewable and new energy storage sectors, Waaree Technologies Ltd. reaffirms its commitment to manufacturing and promoting cutting-edge technologies that will reshape the world’s energy landscape and contribute to the path toward achieving Net-Zero emissions. This strategic alliance with 3DBattery marks a significant step toward achieving these goals and signifies the company’s dedication to innovation and sustainability in the energy sector.