The multi-year agreement with EVE Energy will facilitate the deployment of Powin’s Energy Storage Solutions across the world
The signing ceremony between Powin and EVE took place during Intersolar Europe 2023 in Munich, Germany on June 14, 2023 (Credit: Business Wire)
Powin, a leading global provider of energy storage platforms, has recently forged a significant 10GWh supply agreement with EVE Energy (EVE), a Tier 1 battery cell supplier. This strategic collaboration aims to cater to the growing demands of the global energy storage market. The agreement specifically enables Powin to secure a portion of the required capacity for its flagship project, the 1,850MWh Waratah Super Battery. By entering into this agreement, Powin demonstrates its proactive approach to addressing supply challenges while ensuring the delivery of safe, reliable, and high-performing battery energy storage systems.
This announcement marks a significant milestone in the enduring partnership between Powin and EVE, which originated in 2021 with the announcement of a two-year supply contract at a gigawatt-hour (GWh) scale. Since then, EVE has made substantial investments in expanding its energy storage capacity. Notably, they have recently unveiled plans for the establishment of six new battery plants, boasting an impressive total capacity of 120GWh. These investments represent a remarkable financial commitment of over $3bn.
EVE will continue to serve as the supplier of lithium iron phosphate (LFP) battery cells integrated into Powin’s innovative Centipede Platform. These battery cells are further optimised by Powin’s proprietary StackOS software, which offers exceptional levels of visibility and control.
Powin Global Procurement vice-president Jason Eschenbrenner said: “Our expanded partnership with EVE Energy is an exciting step forward for Powin. Over the past year, our collaboration has yielded remarkable results, and we are proud to extend our alliance to new heights. Through this offtake agreement, we aim to unlock even greater potential in sustainable energy storage solutions, empowering businesses and communities with reliable and clean energy options.”
EVE Energy VP and EVE Energy Storage president Steven Chen said: “Expanding our partnership with Powin represents a natural progression in our joint mission to advance the clean energy revolution.
“The success we have achieved together over the past year is a testament to the strength of our collaboration. By combining Powin’s deep industry expertise with our state-of-the-art LFP battery technology, we are poised to deliver sustainable energy storage solutions at an unprecedented scale. Together, we can accelerate the global transition to clean energy and make a lasting impact on our planet.”
Powin’s robust and fully integrated business model has positioned the company to effectively navigate the complex supply chain challenges that have been a persistent issue in the industry. Being one of the prominent energy storage providers in North America, Powin has strategically cultivated relationships with nearly half a dozen qualified and approved battery cell vendors. This diversified network of suppliers grants Powin a significant advantage by reducing its vulnerability to supply chain bottlenecks.