Vanadium Redox-Flow Battery
SCHMID was established in 1864 in Germany as a technology leader in several fields currently focusing on the Renewable energy sector.
NUSANED was established as a subsidiary company for SABIC to support investors in available opportunities and to drive investments and create local demand.
RIWAQ has successfully completed a partnership with SCHMID and NUSANED as a Technical and strategic partners respectively to develop a Vanadium Redox-Flow Battery Manufacturing facility in KSA.
The JV company will manufacture 3 configurations of VRFB energy storage systems –Telecom Storage, Container Storage and Large-scale Storage, to be sold under the brand name EVERFLOW with a commercial production capacity of up to 1GW/4GWh p.a.
- The JV has the potential to position Saudi Arabia as a global manufacturing hub and R&D leader in an emerging technology in the rapidly growing energy storage market.
- Potential to be the most completive battery by 2030.
- KSA based technology ownership, via full transfer of SCHMID RFB IPs to the KSA based JV.
- Enabling KSA based development of next generation technologies i.e. polymer electrolyte based batteries.
- Localized technology and capability development.
- Complements KSA’s renewables value chain. Provides immediate storage solutions to >40 GW of planned solar capacity in KSA in the next 10 years.
- Enhance efficiency of energy production in KSA.
The project had advanced with the completion of all the necessary governmental and financial requirements.
The project is currently under execution.