Thailand-based energy company Bangchak has made a “significant” undisclosed investment in US-based advanced lithium-ion battery tech developer Enevate.
CEO of California-based Enevate, Robert Rango, said the deal meant Bangchak becomes “an important partner in our mission to provide advanced battery technology that will help drive the growth of global EV markets with as little as five-minute charging times”.
Californian residential battery storage start-up NeoVolta said it is set for a “300% increase in manufacturing capacity” as the state embraces investment in renewable energy systems.
NeoVolta, launched last year, said its move to a new 21,150 sq ft production facility in San Diego this summer will allow it to increase production of its lithium iron phosphate home battery units to more than 10,000 annually.
An international “technology-neutral” partnership to expand the use of energy storage systems in developing countries has been launched by 30 organisations led by the World Bank.
The Energy Storage Partnership (ESP) aims to “catalyse a new market for batteries”, beyond the current focus on the market to supply electric vehicles, the bank said.