The joint venture between Enercap Holdings and Apex Investments PSC aims to address the increasing demand for energy storage driven by the growth of renewable energy, grid balancing, electric vehicle production, and power management for industries. The partnership plans to build a state-of-the-art manufacturing facility in Abu Dhabi with a capacity of 16GWh per year, making it the largest supercap energy storage plant globally. This technology surpasses lithium-ion capabilities, offering long-term benefits such as high performance, sustainability, and recyclability.
Enercap Energy Holding Limited, the joint venture, will establish an automated 10 GWh per year facility in Abu Dhabi’s Mussafah Industrial Zone and upgrade an existing manufacturing plant in Dubai to a 6 GWh per year capacity. With current global demand exceeding 30GWH, the collaboration between Apex Energy Holdings and Enercap SPV Limited will see shares split at 65% and 35%, respectively. Energy storage is a critical component of the energy transition, with supercap technology offering long-lasting, reliable, and bankable solutions crucial for the advancement of renewable energy storage and electrification.
Mark Blackwell, CEO of Apex, highlighted the importance of stable and predictable energy storage to promote renewable energy deployment and decarbonization. The superior performance of supercap energy storage compared to traditional lithium-ion batteries, such as higher energy and power density, longer cycle life, and wide temperature operation range, makes it an ideal solution for renewable energy adoption and carbon reduction efforts. The partnership aims to accelerate the transition to supercap-based energy storage and support global efforts towards sustainability and electrification.
Enercap’s CEO, Waseem Ashraf Qureshi, expressed excitement about the joint venture with Apex, emphasizing the potential for global growth and expanding product offerings across various energy storage applications. The technology’s durability, safety, recyclability, and cost-effectiveness position supercap energy storage as an efficient and effective solution for consumer markets, electric vehicles, and utilities. The UAE’s focus on innovation, renewable energy, and infrastructure development provides a solid platform for the continuous advancement of groundbreaking technologies.
The unmatched performance of supercap energy storage, with features such as high cycle life, energy density, power density, and efficiency, distinguishes it from conventional lithium-ion batteries and positions it as a disruptive solution for global decarbonization efforts. As the energy storage market continues to evolve, the joint venture between Enercap Holdings and Apex Investments is poised to revolutionize the industry and facilitate the adoption of sustainable energy solutions worldwide. In a world increasingly focused on renewable energy and sustainability, the partnership between these two companies represents a significant step towards addressing the pressing energy challenges of the future.
