Domestic startup YEO Technology is preparing to collaborate with Reap Battery in the field of energy storage solutions.
YEO Technology aims to grow with Reap Battery as its partner in the field of energy storage solutions. With the facility to produce an energy storage system of 5 GWh per year in Tuzla, Istanbul, Reap Battery will carry Turkiye to the top league in the field of energy technologies.
YEO Technology’s targets for energy storage systems and Reap Battery’s investment plans were introduced at a meeting attended by YEO Technology CEO Tolunay Yildiz and Reap Battery CEO Alper Baykut.
YEO Technology CEO Tolunay Yildiz emphasized that they are working to support the clean and digital energy transformation and to ensure that the Net Zero Climate targets are achieved. Stating that they are leading projects for clean energy in Turkiye, Yildiz said, “We will use the experience of YEO in energy production, transmission and distribution in over 30 countries in 3 continents in battery technology. Reap Battery will ensure the energy transformation of power grids, renewable power plants, industrial, commercial facilities and households with advanced energy storage solutions.”
Production starts in 2023
Speaking at the meeting, Alper Baykut stated that the demand for energy storage in the world is increasing day by day and said:
“The installed capacity of energy storage systems, which reached 10GWh by the end of 2020, is expected to increase to 194GWh in 2030. The energy storage system market size, which is expected to grow by 35% every year, is expected to reach approximately $45 billion in 2030. As YEO, we aim to get a share in this area with the Reap Battery brand and production facility. In the second half of 2023, as Reap Battery, we plan to produce the first products and start the certification processes.”
Annual production capacity of 5GWh will be reached in 3 years
At the production base to be built in Tuzla, Istanbul, it is aimed to start the production of the first products by the end of 2023. The annual production capacity of 5GWh energy storage system will be reached gradually in 3 years. In 2026, a 5-10GWh capacity battery cell production facility is planned for the most suitable cell type to be used in energy storage systems (ESS). As the final stage of the investment, it is aimed to commission the lithium reuse and recycling facility in 2028.
It will also be used for electric vehicle stations
The subject of energy storage charging stations, which is being worked on at the YEO R&D Center, is expected to find a place in the market with the increase in the use of electric vehicles. YEO has also started product development studies suitable for energy storage systems that mobile charging stations will need.
The use of renewable energy systems will also become widespread in businesses and residences. These systems will be much smaller and smarter than grid-scale energy storage systems when used in the storage of renewable energy and energy trade between subscribers.
Reap Battery will provide a single point of research and development, design and engineering, supply and production, operation and maintenance services in energy storage systems. With its advanced electronic and mechanical design techniques, experienced battery design team, it will offer reliable energy storage systems according to customer needs.
Opening to Europe and the Middle East
YEO Technology aims to carry Reap Battery’s solutions abroad with more than 18 years of application experience. Energy storage solutions will also be delivered to Europe, the Middle East, Central Asia and Africa. Delivering energy and industrial solutions to every corner of the world with more than 225 projects carried out in over 30 countries on 3 continents, YEO will also become a global brand in energy storage systems.
Source: Egirisim / Translated by Irem Yildiz