Lithium Ion Battery Cell Manufacturer Kokam Becomes Strategic Partner of Climate Action Leader Shift Clean Energy

SEOUL,South Korea,Dec. 15,2021 -- Climate action solution leader Shift Clean Energy,and Kokam,a global provider of innovative lithium-ion battery solutions and a subsidiary of SolarEdge Technologies Inc.,are excited to announce a long-term partnership for the marine market. Specifically designed for commercial and industrial applications,Shift's battery design with Kokam battery cells delivers among the most robust industrial Energy Storage Solutions (ESS) currently available on the market and is a significant factor in helping to drive the transition from diesel to electricity in marine applications.

Kokam's field-proven high-performance battery cells ensure less heat creationandefficientheat dissipation in order to minimize energy loss. At the same time,the cells support vigorous and continuous operations,allowing for a safe,stable and durable battery system that can withstand challenging conditions over time.

Shift's unique cooling system provides maximized benefits to customers looking to electrify propulsion systems in the marine sector. Their ESS provide fire prevention and durability,when tested at temperatures as high as 950°Celsius for over an hour. Shift's ESS design,coupled with their e-Pod swappable batteries,further demonstrates their commitment to safe operations and of the resilience of their cores for their entire life of service.

"We are proud to work with Kokam,our partner of choice," said Brent Perry,CEO,Shift Clean Energy. "Our customers can now be confident that when they are choosing Shift to provide them with a climate action solution using electrification,they are getting the advanced lithium cells from Kokam."

"Kokam is delighted to be working with Shift on developing versatile battery solutions for marine applications. We are proud to be a part of Shift's creative solutions with our innovative cell technologies. We will continue to develop solutions that contribute to decarbonizing marine power sources to further a more sustainable future," said Ike Hong,CMO of Kokam.

Shift and Kokam will together help transform the inland waterways,ports and windfarms of the world by offering these different verticals,zero emission solutions over the next few years,well ahead of the goals set out by the IMO (International Marine Organization)of achieving 50% reduction in emissions by 2050.

About Shift Clean Energy

Shift Clean Energy enables customers to meet their climate action and ESG goals with clean energy solutions based on leading-edge energy storage systems. Our practical pay-as-you-go PwrSwäp service,based on swappable batteries,provides reliability and less risk. Customers save money from day one through electrification,integrating ESS and renewable energy for both commercial and maritime applications. Join us on our mission to zero emissions.

About Kokam

Kokam is a global market leader in the manufacturing of premium quality lithium-ion battery systems and advanced ESS solutions. Its patented battery cell technology allows Kokam to provide battery solutions for applications and use-cases that require high levels of quality,performance,safety,and reliability. Committed to solving energy storage challenges,Kokam develops customized solutions for the demanding energy storage and UPS applications. Today,Kokam's state-of-the-art battery solutions are deployed around the world and in a wide variety of industries including,electric vehicles (EV),energy storage systems (ESS),marine and uninterrupted power supply (UPS). Kokam is a subsidiary of SolarEdge Technologies Inc.,a NASDAQ traded company and global leader in smart energy. Kokam is online at kokam.com.