Battero Tech and AI-BESS Technology signed a cooperative framework agreement on May 25. AI-BESS is a provider of renewable energy solutions and specializes in new kinds of battery energy storage systems and emission-free power generation systems. The company has a wide range of offerings that cover portable equipment, industrial settings, commercial venues, homes, and utility. It also develops customized solutions for clients from different regions of the world.
As per the agreement, AI-BESS has made a commitment to procure at least 500MWh of 280Ah LFP battery cells and related products from Battero starting from March 2023. The transaction would be carried out once Battero’s products have been qualified by AI-BESS. Furthermore, AI-BESS has the option to further raise its procurement quantity, and Battero is responsible for ensuring a stable supply of 280Ah cells. In sum, AI-BESS will be adopting Battero’s cells for its energy storage systems deployed across homes, businesses, factories, and power grids.
Battero stated that the cooperation framework agreement will extent the scope of the strategic collaborations between the two parties. It will also facilitate the transformation of China’s energy sector and expedite the efforts to build a net-zero future.
It is worth highlighting that apart from the aforementioned agreement, Battero also entered into a strategic cooperation agreement with Zheshang Development on February 3. The two parties will work together in multiple fields, including financing the development of supply chains, procurements of raw materials, provisioning of batter cells, system integration, development of energy storage applications, and hardware manufacturing. Furthermore, Zheshang Development also agreed to procure 3GWh of battery cells from Battero during 2023.
Established in December 2020 and headquartered in the Economic and Technological Development Zone of Jiashan County in China’s Zhejiang Province, Battero develops, manufactures and sells Li-ion batteries for advanced applications such as NEV power batteries and energy storage batteries. It is indirectly controlled by Tsingshan Holding Group, which is China’s leading nickel supplier.
In terms of offerings, Battero focuses on batteries featuring an LFP cathode. Furthermore, its product portfolio encompasses cells, modules, and packs. Its LFP cells are mostly prismatic cells with an aluminum casing. In terms of nominal capacity specifications, Battero provides 50Ah, 70Ah, 100Ah, 115Ah, 230Ah, 280Ah, 302Ah, 322Ah, and more.
Regarding capacity expansion activities, Battero signed the agreement for the development of the phase 2 of its new energy project in Jiashan County on January 28. The total investment in the phase 2 comes to RMB 2.56 billion. The project site will accommodate production facilities and a research center. The investment in the research center comes to RMB 640 million. Battero said that the research center will be used to do R&D works related to the supply chain. As for the newly added production capacity, the phase 2 comprises 16GWh per year for cells and modules. The investment in the phase 2 comes to RMB 1.92 billion.
Later on March 3, the agreement for the phase 3 was inked. The total investment in the phase 3 comes to RMB 11 billion, of which around RMB 8 billion goes toward fixed assets. The phase 3 will add 45GWh per year of production capacity for cells and modules. In terms of output value, the phase 3 is projected to contribute more than RMB 40 billion per year. According to the official development schedule, the phase 3 will enter the construction phase by the end of May.
This article is a translation of a Chinese article posted by TrendForce. It contains information that is either sourced from other news outlets or accessible in the public domain. Some Chinese names are transcribed into English using Hanyu Pinyin.