Powin Signs 10GWh Agreement with EVE Energy

Multi-year Supply Agreement will Support the Deployment of Powin's Energy Storage Solutions Globally

Global energy storage platform provider Powin LLC (Powin) has established a 10GWh supply agreement with EVE Energy Co., Ltd. (EVE), a Tier 1 battery cell supplier, to serve the global energy storage market. The agreement will support a portion of capacity for Powin's flagship project, the 1,850MWh Waratah Super Battery, and showcases Powin's commitment to proactively overcoming supply challenges while delivering safe, reliable, and high performing battery energy storage systems.

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The signing ceremony between Powin and EVE took place during Intersolar Europe 2023 in Munich, Germany on June 14, 2023 (Photo: Business Wire)

This announcement is a continuation of a long-term partnership dating back to 2021 when Powin first announced its 2-year supply contract with EVE at a GWh scale. Since then, EVE has continued to invest in expanding capacity of energy storage and has recently announced six new battery plants, totaling 120GWh of capacity, and representing more than $3 BUSD in investment. EVE will supply the LFP battery cells that are integrated into Powin's Centipede™ Platform, and fully optimized by its proprietary StackOS™ software that provides unparalleled levels of visibility and control for enhanced safety and performance.

"Our expanded partnership with EVE Energy is an exciting step forward for Powin," said Jason Eschenbrenner, Vice President of Global Procurement at Powin. "Over the past year, our collaboration has yielded remarkable results, and we are proud to extend our alliance to new heights. Through this offtake agreement, we aim to unlock even greater potential in sustainable energy storage solutions, empowering businesses and communities with reliable and clean energy options."

"Expanding our partnership with Powin represents a natural progression in our joint mission to advance the clean energy revolution," said Steven Chen, president of EVE Energy Storage Co., Ltd. and VP of EVE Energy. "The success we have achieved together over the past year is a testament to the strength of our collaboration. By combining Powin's deep industry expertise with our state-of-the-art LFP battery technology, we are poised to deliver sustainable energy storage solutions at an unprecedented scale. Together, we can accelerate the global transition to clean energy and make a lasting impact on our planet."

Powin's fully integrated business model has enabled the company to navigate challenging supply chain issues that have plagued the industry. As one of the largest energy storage providers in North America, with nearly half a dozen qualified and approved battery cell vendors, Powin is less susceptible to supply chain bottlenecks and can work faster to meet the rapidly growing demand for batteries.

About Powin, LLC (Powin):

At Powin, we are advancing the next frontier of energy and changing the way we power our daily lives by ensuring access to clean, resilient, and affordable power. As a global energy platform provider, we offer fully integrated battery storage solutions, software, and services to optimize grid performance and enable the transition to cleaner energy sources. To learn more, please visit www.powin.com.

About EVE Energy Co., Ltd. (EVE):

Established in 2001 and listed in Shenzhen Stock Exchange in 2009, EVE is a private high-tech enterprise focusing on the innovation and development of lithium batteries. Adhering to a high-quality development strategy, EVE continues to focus on high-end lithium battery technology and products, owns core technologies of primary lithium batteries, small Li-ion batteries, and power batteries. EVE is committed to providing green and high-energy, safe and reliable power solutions for the IoT and Energy Internet.

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