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Hithium and MANAT form joint venture company, Hithium MANAT, for BESS production facility in Saudi Arabia

Oct 16, 2024•over 1 year ago

Contract Type

partnership

RiyadhManufacturingEnergyRenewable Energy

Description

Hithium and Engineer Nabilah AlTunisi company, MANAT, have announced the formation of a joint venture company, Hithium MANAT, to establish Battery Energy Storage System (BESS) manufacturing facilities in Saudi Arabia. The collaboration aims to better serve the Saudi Arabia market and develop advanced energy storage technology tailored for desert applications.

Company Information

Company

Hithium Energy Storage Technology Ltd

Location

Riyadh, Riyadh Region, Saudi Arabia

About

Hithium is a leading manufacturer of top-quality stationary energy storage products for utility-scale as well as commercial and industrial applications. With more than 40GWh BESS projects shipment to date, Hithium has taken the top 5 global market shares and was ranked as a Tier 1 BESS supplier. The company boasts four distinct R&D centers and multiple intelligent production facilities, focusing on innovative safety and lifecycle improvements for its lithium-ion batteries. Hithium leverages its specialization in BESS to deliver unique advances in energy storage to partners and customers.

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Strategic partnership established

Partnership agreements typically involve technology integration and joint go-to-market strategies

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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months