Waaree Technologies Ltd. (WTL), an energy storage division of the leading renewable energy and technology player Waaree Group, announced that it has signed a non-binding Memorandum of Understanding (MoU) with Israeli company, 3DBattery, to develop and produce advanced energy storage solutions, based on 3DBattery's lithium-ion and upcoming sodium-ion technology. The Parties will evaluate the collaboration further before entering into definitive agreement.

3DBattery provides advanced Lithium ion battery cells with state-of-the-art chemistry, delivering improved energy storage performance. The company offers a range of cell chemistries for a variety of applications, including Electric Vehicles, Micro Mobility, Stationary and Renewable Energy.

Through the collaboration, Waaree Technologies will gain the capability to indigenously manufacture high-performance, rechargeable energy storage solutions, thus significantly strengthening the company's position in the Indian, and global, new & energy domain.

Commenting on the partnership, Kirit Doshi, Chairman & Managing Director, of the Company, "We are excited to welcome 3DBattery on board as a partner. Their immense R&D capabilities, coupled with Waaree's capabilities in manufacturing new energy solutions, will certainly pave the way for a paradigm shift in energy storage. Leveraging 3DBattery's path-breaking lithium-ion and sodium-ion battery technology will enable us to build capacities for 5GWh of battery cell production.

"Given the growing awareness of the need to diversify supply chains and reduce dependency on a single source, our ability to produce the first fully Indian-manufactured next-generation battery system assumes a special significance. Through this partnership, Waaree will be equipped with the capability to serve every segment of the energy storage market, and to become a driving force in the global clean energy transition."