ROSATOM subsidiary acquires 49% stake in Korean battery maker Enertech; planning gigafactory in Russia
RENERA LLC, ROSATOM’s integrator company for the energy storage business (subsidiary of TVEL Fuel Company of Rosatom) is acquiring a 49% share of Enertech International, a South Korean manufacturer of electrodes, lithium-ion 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. Lithium-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 technology paradigm.
ROSATOM is Russia’s state atomic energy corporation; it is the largest producer of electricity in Russia, ensuring more than 20% of the country’s energy needs.