ESS Inc. signs strategic partnership agreement with InoBat to deploy flow batteries in European market
PORTLAND, OREGON – May 6, 2019 – ESS Inc., a leading manufacturer of safe, low-cost and long-duration energy storage systems, has signed a strategic partnership agreement with InoBat, a regional European accelerator spun out of IPM Group, to develop energy storage applications and opportunities in Europe. The partnership envisages cooperation in bringing ESS Inc.’s iron-flow battery technology to Central and Eastern Europe, as well as establishment of an R&D and potential future production facility in the CEE region.
“InoBat’s parent organization, IPM Group, has been an invaluable supporter of ESS over the last several years, and we are honored to be their first energy storage partner for this new venture,” said Mr. Craig Evans, Founder and CEO of ESS Inc. “We look forward to collaborating with InoBat to advance the stationary energy storage market in Europe, as well as grow the global footprint of our Energy Warehouseä flow battery solution.”
InoBat’s long-term objective is to serve the European market with new energy solutions by building strategic partnerships and joint ventures that partner the world’s leading technologies with industrial groups in the Central and Eastern European region. Marian Bocek, Co-Founder and Executive Chairman of InoBat, said, “The signing of a strategic partnership agreement with ESS marks a significant milestone not only for InoBat, but for Slovakia and Europe as well. Transfer of ESS Inc.’s unique electrolyte and water-based technology to the Danube Valley region will help us significantly with building InoBat’s complex value chain and with strengthening the local innovation ecosystem.”
InoBat is a regional accelerator established in 2018 with the long-term objective of serving the European market with new energy solutions. Leveraging Central and Eastern Europe (CEE)’s strong automotive, petrochemical, and energy sectors, Inobat will house R&D and testing platforms as well as future production lines for technologies born out of European ventures, or international entities looking to expand their global reach, right from the heart of the European continent. InoBat aims to build joint ventures linking the world’s leading technologies with market access via partnerships with the leading industrial groups in the CEE region. Inobat will work in three industry verticals – electro-mobility, energy storage, and hydrogen. For more information, visit www.inobat.eu.
About ESS Inc.
Established in 2011, ESS Inc. develops and manufactures the low-cost, long-duration Energy Warehouse (EW) flow battery for commercial and utility-scale energy storage applications requiring 4+ hours of flexible energy capacity and 20+ years of operating life with no capacity fade. The EW utilizes earth-abundant iron, salt, and water for the electrolyte, and delivers an environmentally safe, long-life energy storage solution for the world’s renewable energy infrastructure with the lowest levelized cost of storage per kWh. For more information, visit www.essinc.com.
Trevi Communications for ESS Inc.