Nilar takes the next technological step - Launching ReOx 2 with better performance and longevity
With ReOx, Nilar became the first in the world to produce a battery that can be restored with new life. Now the company is taking the next step and launching the second generation ReOx battery that can provide more cycles and has better performance. The launch represents an important technological step for Nilar. Indutecc Renewable Solutions has previously placed an order of SEK 110 million for the new battery, for which production will begin in early 2024.
Nilar International AB develops and produces safe and sustainable batteries in Gävle. The need for energy storage increases as the share of renewable energy increases in electricity production and electricity prices become more volatile. Nilar's ReOx technology, which was launched last year, is unique in the world and extends the life of the battery several times over.
Now Nilar takes the next technological step and launches a new generation ReOx battery, ReOx 2. A new cooling technology means that the air flow is controlled optimally between the battery's modules, enabling cooling on the entire surface of each module. Through these technological advancements, the ReOx® battery provides more cycles, generating more energy throughput, and an increased power (C-rate). In addition, the new casing acts as a protecting layer and facilitates installation and safe placement.
- ReOx 2 shows that Nilar has the technology in place. We have a business plan that focuses on continued product development for more market segments, larger production volumes and lower costs. This is another important step towards achieving increased sales and larger volumes, says Erik Oldmark, CEO of Nilar International AB.
ReOx 2 realizes Indutecc's order of SEK 110 million
Since the launch of ReOx 1, Nilar has initiated three long-term collaborations with system integrators who make the best use of Nilar's unique technology in customized solutions. Together with Indutecc, Nilar develops energy storage solutions for commercial and industrial properties. Indutecc has previously placed an order of SEK 110 million for the new battery, with production beginning in early 2024.
- For Indutecc Renewable Solutions, part of the Schuurman Group, this is an important collaboration. Nilar has developed a unique technology with good performance, high safety and unique sustainability properties. Combined with our proficiency in BMS, EMS, and solar energy, we have crafted an answer to the contemporary energy challenges of our time. This partnership not only fortifies our dedication to sustainability goals but also underscores the core essence of Indutecc Renewable Solutions: providing unparalleled value through pioneering technologies and eco-friendly practices. Together with our esteemed partners, Nilar, Enequi and SRP, we are not just shaping the future of energy; we are redefining it, says Rino van Deventer, CEO of the Schuurman Group.
The ReOx technology has been developed in collaboration with researchers at Stockholm University and provides superior safety compared to traditional lithium batteries. Nilar's batteries are also designed with recycling and reuse as part of the construction.
For further information, please contact:
Erik Oldmark, CEO
+46 70 432 4444
erik.oldmark@nilar.com
Press contact:
Matilda Ekman Vråmo
+46 72-213 01 28
matilda.ekman.vramo@nilar.com
About Nilar:
Swedish-based Nilar International AB develops and manufactures batteries that are part of stationary energy storage systems. With better energy storage, society can support the increasingly stressed electricity grid by bridging imbalances between energy production and demand, especially important as the share of renewable energy sources increases. Nilar's battery technology is based on nickel metal hydride (NiMH) electrochemistry with a water-based electrolyte, which provides higher safety while allowing the components to be recycled and reused. Nilar has its headquarters in Täby and since 2012 all batteries have been developed and produced in the production facility in Gävle, which is powered by 100% renewable energy.
The Nilar share is listed on the Nasdaq First North Premier Growth Market under the ticker NILAR. FNCA Sweden is Certified Adviser. For more information see www.nilar.com.
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