Graphene technology developer NANOTECH ENERGY said recently that it will provide more than 1GWH or more battery energy storage systems to the Greek market through energy distributor Smile Energy, which continues until 2028.
NANotech Energy, headquartered in Los Angeles, announced on October 20 that the 1GWH or above battery energy storage system signed with Smile Energy Company was announced on October 20.
Smile Energy has taken over the distribution business of NANOTECH ENERGY's technology and products in the Greek market. Its goal is to open a commercial operation battery energy storage system on several islands in Greece. Smile Energy is also responsible for distributing Nanotech Energy products in Balkans, North Africa and the Middle East.
The company has developed a 700MWH energy storage system in these regions and will use battery energy storage technology developed by NANOTECH ENERGY in the fields of home battery storage system, commercial energy storage, industrial and marine applications.
Nanotech Energy uses a lithium ion battery supported by graphene technology, which claims that the technology improves the electrochemical performance of battery anode and cathode.
The company stated that it raised $ 64 million in Series D financing in August 2021 to increase its valuation from $ 95 million to $ 550 million. Investors include Multiverse Investment Fund and Fubon Financial Group.
In April this year, Greece doubled its 2030 energy storage deployment goals to 3GW. Last month, Greece obtained the EU (EU) aid approval of the 900MW energy storage system grid planning.
