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Jun 28, 2022 16:51 CESTJapan’s PowerX plans 5-GWh battery assembly factory
PowerX's battery assembly plant, Power Base. Image by PowerX, Inc.
June 23 (Renewables Now) - Japanese firm PowerX Inc on Wednesday unveiled plans for its first GW-scale battery assembly plant to be located in Tamano City, Okayama Prefecture.
The factory, called Power Base, will have an annual production capacity of 5 GWh. It is expected to start pilot production in 2023 and delivery of electric vehicle (EV) fast chargers and other battery energy storage systems in the spring of 2024. The facility will produce energy storage systems such as grid-scale stationary batteries, EV fast chargers, marine batteries and home batteries.
The campus-like site at a canal close to Uno Port will include battery assembly lines, as well as research and development (R&D) centres, offices and conference rooms.
Construction will be funded with part of recently raised capital. In May, the company secured JPY 4.15 billion (USD 30.5m/EUR 29m) in the first half of a Series A funding round, led by Spiral Capital and Nippon Gas.
(JPY 1 = USD 0.007/EUR 0.007)
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