Owned by Nicon Industries A/S ownership group, Green Energy Renewable Solutions will deploy EnerVenue energy storage technology across maritime, large construction, and other heavy industry projects
FREMONT, Calif. - September 22, 2022 - EnerVenue, the first company to bring metal-hydrogen batteries capable of 30,000 cycles to the clean energy revolution, today announced a Master Supply Agreement with Green Energy Renewable Solutions. Under the terms of the deal, Green Energy will procure and deploy 250 MWh of EnerVenue's storage solution over the next three years. Houston-based Green Energy is a recently launched company owned by Henrik Jensen and Jens Juul, both of whom own and operate Nicon Industries A/S, a leading manufacturer of steel and aluminum constructions in the wind, offshore and maritime industry. Green Energy will leverage EnerVenue battery vessels to support Nicon's innovative renewable energy and storage projects.
The Master Supply Agreement will deliver 50MWh in 2023, 100MWh in 2024, and 100MWh in 2025. Green Energy will package EnerVenue battery vessels into customized building blocks for projects across Nicon's onshore and offshore project portfolio. Through Green Energy, Nicon has the ambitious goal of building 1 GW of storage projects within the three years of the initial EnerVenue agreement.
"EnerVenue's energy storage technology will be a critical asset to Green Energy Renewable Solutions and, by association, to Nicon Industries A/S," said Henrik Jensen, CEO, Nicon Industries A/S. "EnerVenue's technology features exceptional longevity and durability with minimal maintenance required, and its fire-safe properties are especially critical in our expected applications. EnerVenue's transformational technology will help Green Energy Renewable Solutions provide superior value to our global customer base."
Initial projects are expected to be onshore but to support Nicon's long-term goals, Green Energy's energy storage solutions must meet particularly strict DNV certification and CE certification mandates for systems deployed in the offshore and maritime market. EnerVenue's unique metal-hydrogen technology gives Green Energy exceptionally long battery life with low maintenance requirements and zero fire propagation risk—an especially crucial safety and compliance factor in offshore locations such as oil rigs.
"By 2024, Nicon's forklifts will be converted from fossil fuel to electric power and will be charged with Green Energy battery containers," said Jens Juul COO Green Energy / Nicon Industries A/S. "Additionally, the power needed for our sea fastenings jobs on wind installation vessels will be supplied from our own battery containers charged overnight with renewable energy coming from the wind farms."
"Green Energy's maritime and offshore renewable energy applications offer use cases where the safety, flexibility, and maintenance-free durability of our battery vessels deliver compelling business opportunities and competitive differentiators," said Randy Selesky, CRO, EnerVenue. "This industry has a particularly outsized and urgent opportunity to benefit from clean energy modernization, and we're proud to now work with Green Energy to bring our technology into these applications for the first time."
Many of Green Energy's planned renewable energy projects are associated with a push by European Union countries to ramp up offshore wind power, decarbonize the maritime industry, move away from volatile gas imports, and more quickly and completely achieve climate goals.
The Master Supply Agreement adds to EnerVenue's recent supply deals, including agreements with Pine Gate Renewables and Sonnell Power Solutions.
EnerVenue builds simple, safe, and cost-efficient energy storage solutions for the clean energy revolution. Based on technology proven over decades under the most extreme conditions, EnerVenue batteries are refined and scaled for large renewable energy integration applications. The company is headquartered in Fremont, California.