EnerVenue Announces Master Supply Agreement with AVID Group for Australian Expansion

Aug 27, 2024•over 1 year ago

Contract Type

partnership

United StatesEnergySustainabilityConsumer Goods

Description

EnerVenue has announced a Master Supply Agreement with AVID Group, an energy solutions provider serving Australia and West Africa, which marks EnerVenue's first partnership of this kind with an Australian energy provider and extends their growing reach in the country. The agreement involves the installation of EnerVenue's fourth-generation Energy Storage Vessels (ESV-4) at AVID’s Perth-based manufacturing site, and making EnerVenue storage solutions available to customers for use in their own commercial, mining, industrial, and microgrid applications.

Company Information

Company

EnerVenue

Location

United States

About

While lithium-ion works fine for consumer electronics and even electric vehicles, battery startup EnerVenue says it developed a breakthrough technology to revolutionize stationary energy storage. One of the key differences between the batteries in space and the one’s EnerVenue is developing on Earth is the materials. EnerVenue is currently in “late-stage” discussions on the site and partner for a United States factory to produce up to one gigawatt-hour of batteries annually, with the goal of eventually scaling even beyond that.

Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months