A subsidiary of Russian state-controlled nuclear energy firm Rosatom has taken a 49% share of Enertech International, a South Korean manufacturer of electrodes, lithium-ion storage cells and energy storage systems (ESS).
The deal was finalised through Rosatom Energy Storage Solutions (RENERA) and includes building lithium-ion cell and energy storage system manufacturing in Russia with at least 2GWh production capacity by 2030.
The first stage of production is scheduled for 2025, with the batteries due to be used in electric vehicles (buses and cars), special equipment and power grid connected ESSs.
RENERA was launched last October and is incorporated under the umbrella of Rosatom’s nuclear fuel producer TVEL Fuel Company.
Natalia Nikipelova, president of TVEL Fuel Company, said the alliance with Enertech was a strategically important milestone for the development of Rosatom’s energy storage business.
She said: “This will increase production capacity, significantly enhance our expertise and applications based on lithium-ion batteries and also facilitate access to foreign markets.”
Establishing a battery production supply in Russia would become a landmark event for the nation’s automotive industry while reducing dependence on imports, associated commercial risks and result in lower battery costs.