Energy and Pylon Tech Forge Lithium Battery Joint Venture
Energy SpA, a leading Italian energy storage company, has announced an exciting strategic partnership with Pylon Technologies. A prominent Chinese lithium cell manufacturer is planning to establish a joint venture focused on battery production in Europe. The collaboration, named Pylon LiFeEU, will operate from Energy’s existing state-of-the-art facility located in northern Italy.
With a specific emphasis on manufacturing cobalt-free lithium-iron-phosphate batteries, it will efficiently store energy from renewable sources. Commencing production in late 2023, Energy will proudly become the only Italian company capable of manufacturing energy storage and battery systems in-house.
With a long-term vision in mind, Energy and Pylon Technologies plan to construct a cutting-edge gigafactory in the picturesque region of Veneto in northern Italy. This ambitious facility will initially have a production capacity of manufacturing 600 to 800 batteries per day. This impressive amount is equivalent to 3 to 4 megawatt-hours of energy storage capacity. The establishment of this gigafactory marks a significant milestone in the companies’ pursuit of localized production.
Further, it will enhance the security and stability of the supply chain for their European partners. Both Energy and Pylon Technologies firmly believe in a prosperous future for the renewable energy industry within the European Union, utilizing their global knowledge and local resources in Veneto
Italian Energy Company Partners with Chinese Manufacturer for Cobalt-Free Battery Production
The partnership between Energy and Pylon Technologies stands on a solid foundation of collaboration. Indeed, the corporations have had a fruitful decade of collaboration. Demonstrating their strong connection and commitment to societal welfare, Pylon Technologies showcased their generosity in April 2020 by donating over 14,000 masks and protective suits to local hospitals during the challenging period of the Covid-19 pandemic.
The joint venture’s establishment aligns seamlessly with Italy’s increasing focus on renewable energy initiatives. In a recent development, Repsol, a leading energy company, made a substantial commitment to its new project. The company plans to construct over 1.7 gigawatts (GW) of renewable energy production capacity in the country. Besides, Iberdrola, a prominent Spanish utility company, received approval for a $161 million loan from the European Investment Bank. The funds will help to support the completion of several significant solar projects in Italy.
Gigafactory in Northern Italy to Manufacture High-Capacity Batteries for Sustainable Energy Solutions
The Italian government has been actively promoting and incentivizing renewable energy projects. Italy is planning to implement an auction scheme in 2020 to allocate funding for such initiatives. This successful scheme effectively contracted approximately 4.8 GW of renewable energy capacity.
Furthermore, it significantly contributes to Italy’s ambitious goal of achieving 55.4% renewable electricity by 2030. The partnership between Energy and Pylon Technologies perfectly aligns with Italy’s renewable energy ambitions, emphasizing the nation’s commitment to sustainable development and a cleaner, greener future.
By combining their expertise, Energy and Pylon Technologies are poised to revolutionize the renewable energy storage landscape. Their joint venture aims to facilitate the production of advanced lithium batteries, driving innovation and accelerating the adoption of renewable energy solutions across Europe. With their shared vision, technological prowess, and commitment to sustainability, Energy and Pylon Technologies are set to play a pivotal role in shaping the future of the European renewable energy industry.
The post Energy and Pylon Tech Forge Lithium Battery Joint Venture appeared first on FinanceBrokerage.
