Akaysha inks battery storage deal with Japan’s Itochu Corp

BlackRock and Akaysha Energy executives at the acquisition signing
BlackRock and Akaysha Energy executives

Australia’s BlackRock-backed Akaysha Energy has entered into a strategic agreement with Japanese trading firm Itochu Corporation to collaborate on utility-scale battery storage.

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Itochu has installed more than 600MWh of storage batteries in Japan and abroad in its residential and industrial Energy Storage Business Sector, and is also developing utility-scale energy storage solutions across multiple sites in Japan.

In addition, Itochu is expanding its value chain, which includes the supply of battery materials, the manufacture and sale of storage batteries, and their reuse and recycling, and will continue to promote business expansion.

Akaysha is developing one of the world’s largest energy storage plants, the Waratah Super Battery (850MW rated output and 1,680MWh rated capacity) in Australia, and is expanding its business further globally.

“Through this alliance, Itochu and Akaysha will aim to develop high-performance and efficient systems and strengthen their competitiveness,” Itochu said in a statement.

“Itochu and Akaysha will also promote the joint development of energy storage plants in Japan and build on their knowledge to develop cooperation in overseas business, including Australia.

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“Through this collaboration, we will combine our innovative solutions to contribute to the further introduction and stable supply of renewable energy and play a role in the realization of a sustainable society.”

 

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