Nilar and Enequi announce strategic partnership and battery order of SEK 10 million
Nilar and Enequi have entered into a strategic partnership for the development of customized solutions for energy storage in the European market. Enequi has also signed an initial order of 800 batteries from Nilar, with associated battery management system (BMS), for 100 units of Enequi’s energy storage system, QuiPower Storage, with delivery starting within the third quarter of 2022.
The market for stationary solutions of energy storage is growing rapidly and demand in the European market is high. To meet customers’ needs for safe, reliable, and sustainable solutions for stationary energy storage, Nilar and Enequi have entered into a strategic partnership. Enequi is a Swedish developer and supplier of intelligent solutions for energy storage, energy control, and industrial automation. Enequi delivers the system solution QuiPower, which provides property owners access to clean and environmentally friendly energy through intelligent energy storage and control; batteries are combined with software for control and hardware for energy optimization.
- We look forward to working closely with Enequi to develop customized and cost-efficient solutions based on Nilar's batteries and BMS. Enequi has both the technical knowledge and capability required to create integrated solutions where our batteries and Enequis' control work together optimally, says Erik Oldmark, CEO of Nilar.
Enequi is experiencing a strong increase in demand for energy storage. In the past year, Europe has been hit by volatile and elevated electricity prices, and Russia's invasion of Ukraine has increased the focus on energy issues.
- Our customers are looking for safe and reliable energy storage solutions that can provide them with sustainable and stable energy supply. Through our partnership with Nilar, we strengthen our offering and create the conditions to accelerate our growth in Europe, says Håkan Svärd, CEO of Enequi.
Nilar and Enequi have also agreed on an initial order of 800 batteries equipped with BMS and Nilar's reoxygenating technology, intended for 100 units of Enequi’s QuiPower Storage for delivery starting during the third quarter of 2022. In total, this includes batteries with a capacity of 1,15 MWh and an order value of SEK 10 million. For Nilar, it will be the starting point for a ramp up of production to reach a capacity of 20 MWh in 2023, with a long-term goal of achieving a production capacity of 150-200 MWh in 2025.
Nilar's strategy is to focus on developing and producing competitive batteries, BMS platform, and reoxygenating technology. Customization and system construction takes place in collaboration with select partners. The customer applications are in the segments for residential, commercial and industrial facilities, and utility-scale energy storage, with solutions for peak shaving, backup, frequency regulation, time shifting, Uninterruptible Power Supply, islanding and off-grid.
- The partnership with Enequi is an important step in achieving our goal of signing strategic agreements in 2022 and 2023 with key integrators for jointly developed solutions aimed at our leading customer segments. We thus follow the roadmap set out in our revised business strategy, which was established at the beginning of 2022. Based on our unique product benefits, we continue to develop our batteries and our offering. We have high ambitions and, together with select partners, we strive to become a leader in optimized solutions for customers who are looking for high-performance, cost-effective, safe, and sustainable energy storage, says Erik Oldmark.
For further information, please contact:
Erik Oldmark, CEO
+46 70 432 4444
Matilda Ekman Vråmo
+46 72-213 01 28
Nilar is a Swedish-based developer and manufacturer of batteries for stationary energy storage systems. Energy storage systems can be used to bridge imbalances between energy production and demand in order to, for example, improve the utilization of intermittent electricity production from renewable energy sources, such as solar energy and wind power, as well as to strengthen the increasingly strained power grids. Nilar's battery technology is based on nickel-metal hydride (NiMH) electrochemistry with a water-based electrolyte, which results in a strong environmental and safety profile with high performance. The Company is headquartered in Täby and the energy-efficient production facility is, since 2012, located in Gävle, where the Company's research and development also takes place.
The Nilar share is listed at Nasdaq First North Premier Growth Market, ticker NILAR. FNCA Sweden is Certified Adviser +46 8 528 00 399. For more information go to www.nilar.com.
This information is information that Nilar International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-05-16 14:00 CEST.