Durapower, Pozbud and Elmodis Signs MOU To Start Battery Manufacturing Plant In Europe

Memorandum Of Understanding will leverage Durapower's expertise in Lithium-Ion Battery manufacturing and Containerised Energy Storage Solutions (ESS) to set-up a battery production facility in Poland and serve the European market.

Partnership will see the creation of a new facility; integrates respective battery,cell,module testing and manufacturing,as well as system manufacturing to make renewable energy systems affordable.

SINGAPORE,Sept. 22,2021 -- European power grid utilities,photovoltaics and windfarms will be able to explore sourcing their Energy Storage Systems (ESS) from Europe,following Pozbud and Elmodis' new partnership with Durapower,a Singapore enterprise that specialises in the manufacturing of lightweight,scalable and safe Lithium-Ion Batteries for containerised ESS solutions.

Durapower,together with Pozbud and Elmodis,have inked an Agreement to kickstart a new battery manufacturing plant in Europe.

The strategic partnership,which takes the form of a Memorandum Of Understanding,formalises the mutual interaction and strengthens the existing relationship between Durapower,Pozbud and Elmodis at both the strategic and working level,focusing on the manufacturing and delivery of Lithium-Ion Batteries for use in containerised ESS systems. This aspiration is to contribute to lowering the European region's emissions from its current value to 20% by 2050,with a view to achieving net-zero emissions as soon as viable.

As part of the new strategic partnership,the agreement will give European energy companies direct access to an alternative source for ESS,providing a seamless,hassle-free sourcing experience and enhanced client support experiences including tax-reliefs and after-sales care.

This latest cooperation allows strategic partners Pozbud and Elmodis the opportunity to create affordable 'Made In Europe' containerised ESS products under the Durapower brand.

In addition to providing the essential technology to support the creation of ESS for industrial applications in the European region,the joint venture will also see the establishment of a new manufacturing plant in Poland. The plant is expected to kick-off operations in phases,working towards an annual production capacity of up to 2 GWh when fully operational.

Serving as the point of introduction for European energy companies,the manufacturing plant will incorporate a full range of high-tech maintenance services,including predictive maintenance,data analytics and technical expertise in Industrial Internet Of Things along with EPC,Manufacturing and Construction capabilities. Durapower expects the flagship European Union-based plant to contribute towards a significant share of its European growth expansion plan.

The planned joint venture will allow the working group to kickstart the production and assembly of modules and racks,eventually leading to localise Durapower's European battery cell sourcing and manufacturing. This cooperation is expected to serve as the point of entry into the European market for ESS,providing all parties the opportunity to expand sales of the new company's ESS in general.

Says Durapower's Chief Executive Officer,Kelvin Lim: "This partnership cements our commitment to giving energy companies in the European Union an alternative to renewable energy sourcing,while providing localised supply chain of lithium-ion batteries and high quality after-sales experience while driving towards a goal of net zero carbon footprint,which is the goal of Durapower,Pozbud and Elmodis."

Says Pozbud's Chief Executive Officer,Lukasz Fojt: "We are excited to open up Europe to an alternative energy source and develop the local supply chain through this new manufacturing facility. Energy prices optimisation (selling and/or purchasing) and guaranteeing quality and safety parameters to ensure continuous power supply are essential benefits given by energy storage systems (ESS). Delivering excellent customer experiences is crucial to us and we know that with such top-quality business partners as Durapower and Elmodis we can provide the best solutions in the field of Energy Storage Solutions with an equally outstanding service level."

Says Elmodis' Chief Executive Officer,Artur Hanc: "We are proud to be part of such an important project,providing our cutting-edge technology for Energy Storage Solutions,so important for a sustainable energy market. It is a pleasure to start cooperation with such great business partners as Durapower and Pozbud,with whom we already have joint projects."

Durapower has started its European operations in 2015,established its office in the Netherlands in 2019 and has supplied high performance lithium ion batteries to several electric vehicle manufacturers and stationary applications in the region. In recent times,the organisation has also supplied battery systems for hybrid-electric AGVs to the European seaport and several marine vessel applications. Building on a rapid growth since then,the European market has become a focal point for the future growth and expansion plans of the Singaporean-grown enterprise.

About Durapower

Headquartered in Singapore,Durapower (www.durapowerbattery.com) offers closed-loop,end-to-end energy storage solutions for the electric mobility and renewable energy applications including on and off-road Electric,Hybrid and Plug-in Hybrid Electric Vehicles,electric marine vessel and stationary energy storage solutions. Since 2009,Durapower has been a leading innovator of Lithium-Ion cell technology,focusing on the research and development of battery materials,of battery cell manufacturing and system integration. With a global presence spanning 20 countries and 45 cities,including European Countries,China,India and South East Asia. Durapower Group strives to make scalable,sustainable batteries that support the circular economy,empowering lives and transforming the future towards a carbon neutral economy.

About Pozbud

Headquartered in Poland,Poznan,Pozbud (www.pozbud.pl) is a company listed on the Warsaw Stock Exchange with the business history of almost 40 years. The Pozbud Group has production,engineering as well as commercial competences and operates in diversified business areas,which include: teletechnical construction,wooden joinery (sales in the EU and the USA),housing development,railway industry and Renewable Energy Sources,which is one of the key strategic segments for Pozbud Group. The Company focuses on the development of services,products and technologies supporting sustainable development and pro-ecological activities as public transport and renewable energy sources with energy storage and management systems.

About Elmodis

Headquartered in Poland,Cracow,Elmodis (www.elmodis.com) is a technology company in the field of Industrial Internet of Things,providing advanced solutions based on Edge and Cloud computing with the application of AI and Machine Learning. The Company's unique use of electrical measurements combined with advanced data modeling and processing,enables it to provide effective solutions improving the performance of maintenance by deploying machinery condition prediction tools and the operational and energy efficiency. A new application of the Elmodis technology is the diagnostics and prediction of Li-Ion battery and cell conditions. This technology is especially important for ensuring the safety and high efficiency of industrial energy storage and special vehicle batteries with high performance requirements.