Polish renewable energy firm NOVAVIS Spółka Akcyjna has signed a mutli-partner Joint Venture agreement to establish a vanadium redox flow battery production plant.
The JV will manufacture energy storage systems using the technology under the banner Storion Energy Poland.
It has not been announced where the plant will be located.
The next steps for the JV include obtaining funds for investment, and setting up R&D co-operation with scientific companies.
The JV’s shareholders are: US-based Storion Energy (33%), German-based Storion Energy GmbH and Novavis (both 24 %), UK-based Marshall Nordic Limited (10%) and employees (9%).
In the first phase, production will be aimed at the German and Western European markets, where Novavis will be engaged in the sale of products.
The JV expects to extend sales into African countries by 2019.