ROSATOM Acquires 49% Stake in Korean Enertech International
RENERA LLC, ROSATOM’s integrator company for the energy storage business, has finalized the deal to acquire 49% share of Enertech International Inc, a
RENERA LLC, ROSATOM’s integrator company for the energy storage business, has finalized the deal to acquire 49% share of Enertech International Inc, a South Korean manufacturer of electrodes, lithium-ion storage cells and energy storage systems. The signed agreement also includes building a facility for manufacturing of lithium-ion cells and energy storage systems in Russia, with at least 2 GWh production capacity by 2030. The start of the first stage of production is scheduled for 2025. Llithium-ion batteries made in Russia will be applied in electric vehicles (buses and cars), special equipment and in power grids.
The alliance with the Korean partner is a part of ROSATOM’s strategic development of non-nuclear businesses. Energy storage is an end-to-end technology in ROSATOM’s portfolio of new businesses, which makes it possible to create high-tech products which are in demand in the new technological paradigm.
Lithium-ion batteries are considered to be one of the most advanced and popular energy storage technologies. Due to the combination of affordable prices and high performance, such batteries have become the key component for development of environmentally friendly passenger transport – electric vehicles. Establishment of a world-class battery production enterprise in Russia would also become a landmark event for the national automotive industry. Reducing dependence on imports, associated commercial risks and, as the result, lower cost of the final products could become an incentive for production growth and widespread introduction of Russian-made electric transport.