Dubai-based Enercap Holdings and Abu Dhabi’s Apex Investments PSC have formed a joint venture to create the largest supercap energy storage manufacturing capacity in the world. The project will build a 16 GWh per year manufacturing capacity to meet the increasing demand for advanced energy storage solutions. This innovative supercap technology surpasses current lithium-ion capabilities, offering longer life, stability, and better performance.
Manufacturing Facilities
The joint venture, Enercap Energy Holding Limited, will establish a fully automated 10 GWh per year manufacturing facility in Abu Dhabi. Additionally, Enercap will acquire and upgrade an existing facility in Dubai Industrial City to a 6 GWh per year capacity. With global demand for energy storage units exceeding 30 GWh, this expansion is critical. Apex will hold 65% of the joint venture, while Enercap SPV Limited will take 35%.
Technology and Market Significance
Enercap’s supercap energy storage technology is non-degrading, operates over a 25-year life cycle, and can withstand a wide range of temperatures, making it a valuable investment in the energy storage market. The technology is crucial for scalable renewable energy solutions, particularly as the market moves away from fossil fuels.
Leadership Comments
Mark Blackwell, CEO of Apex, emphasized the importance of stable and long-life performance for energy storage systems, calling the supercap technology a key driver in the transition to renewable energy. Waseem Ashraf Qureshi, CEO of Enercap Holdings and the inventor of the technology, expressed excitement about the joint venture’s role in accelerating global growth and expanding supercap-based energy storage applications.
Conclusion
The partnership between Enercap and Apex is set to revolutionize the energy storage industry, offering long-lasting, fast-charging, safe, and recyclable solutions that will be integral to global decarbonization efforts.
Source: businesswire.com
