Statevolt to Launch a $3.2 Billion State-of-the-Art Battery Gigafactory in Ras Al Khaimah - Middle East News 247
July 25, 2024

Statevolt to Launch a $3.2 Billion State-of-the-Art Battery Gigafactory in Ras Al Khaimah

Statevolt, a global leader in green industrialization, is today announcing its plans to construct a new state-of-the-art, technology-agnostic battery cell Gigafactory in Ras Al Khaimah, UAE. With a capital expenditure of $3.2 billion (USD), Statevolt Emirates, as the UAE venture will be known, will mark a significant milestone in advancing technological innovation in the energy storage sector (ESS).

Working alongside various industry and community partners, Statevolt Emirates will implement its modular design approach, allowing for a faster route to market as well as a solution to diversify production based on technology readiness. The Gigafactory is designed to set a new standard in battery technology with its superior safety and extended lifecycle, delivering battery solutions that are adaptable to a wide range of climates and conditions. The factory will start by producing semi-solid state battery cells, with the aim to move to solid state battery cells once the project reaches full capacity.

Under the leadership of entrepreneur Lars Carlstrom, who is deeply committed to green industrialization and the creation of skilled jobs, Statevolt Emirates is set to lead the charge towards low-carbon energy solutions. The Gigafactory embodies Carlstrom’s vision of leveraging technological innovation for global energy transformation and local economic enhancement.

This ambitious project, with a site spanning 60 hectares in Al Ghail Industrial Park in RAKEZ, is anticipated to generate up to 2,500 direct  job opportunities, fostering significant economic development in Ras Al Khaimah and the surrounding region. Moreover, it aligns with the UAE’s strategic vision to become a leading hub for green technology and energy transition, reinforcing the country’s position as a leader in sustainable industrial development.

The Gigafactory, positioned to meet the surging global demand for energy storage solutions (ESS), crucial for stabilizing the grid, enhancing renewable energy integration, and improving energy efficiency, is strategically focused on key export markets such as Africa, India, the UAE, and the broader Middle East region. With an expected annual production capacity of up to 40GWh upon full operation, Statevolt is well-positioned to address the growing need for sustainable energy management. These markets are increasingly pivotal, given their ambitious renewable energy targets and the essential role of energy storage in achieving these goals.

Lars Carlstrom, founder-CEO of Statevolt, said, “At Statevolt, our commitment to the global energy transition is founded on our focus on sustainability, efficiency, and innovation. Our $3.2 billion investment in the Ras Al Khaimah Gigafactory, using next-generation technology, highlights this commitment, aiming to meet the growing demand for energy storage solutions across Africa, India, the UAE, and the Middle East. We greatly value the support from the Ras Al Khaimah Economic Zone authorities and are confident that our partnership will bring success and significant opportunities for the community. We are happy to be able to be a player in one of the world’s most prospering economies who are now taking the lead in new industrialization.”

RAKEZ has closely collaborated with Statevolt on the initial setup activities in the Emirate and are committed to supporting logistics requirements and providing sufficient energy for the Gigafactory to operate at full capacity. Additionally, Statevolt has reached a commercial land agreement in RAKEZ, marking the first milestone in the development of this new project.

“We are thrilled to have welcomed Statevolt to our growing community of pioneering enterprises dedicated to sustainable innovation. The outstanding facilities provided by the emirate of Ras Al Khaimah are in perfect harmony with Statevolt’s ambitious production objectives and RAKEZ is committed to supporting the company’s journey every step of the way, ensuring all the requirements are fulfilled for the successful gigafactory project. This synergy enhances our collective pursuit of sustainability, aligning with the emirate’s Energy Efficiency and Renewables Strategy 2040. Statevolt’s presence marks a significant milestone in our journey towards a greener future and reinforces our commitment to attracting leading-edge companies that share our vision for creating a sustainable ecosystem,” expressed RAKEZ Group CEO Ramy Jallad.

Following the land agreement, Statevolt will be applying for building permits, and expects to have the first production line fully operative by the end of 2026.

Last Updated on 4 months by Middle East News 247

    Middle East News 247

    Middle East News 247

    Middle East News 247 delivers the latest news and essential infotainment for, and from the Middle East region, with a key focus on the GCC countries.
    Follow Me:

    Related Posts