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Enertech and Ewha Electric signed an agreement for a joint factory

Enertech International CEO Oh Deok-geun (left) and Ewha Electric Vice President Shim Bo-geun took a commemorative photo after signing a business agreement to establish a battery pack joint factory. [Source: Enertech]
<Enertech International CEO Oh Deok-geun (left) and Ewha Electric Vice President Shim Bo-geon took a commemorative photo after signing a business agreement to establish a battery pack joint factory. [Source: Enertech]>
Enertech International and Ewha Electric are producing batteries for uninterruptible power supply (UPS). In order to target the Middle East nuclear power plant market, a domestic battery maker and a power equipment maker have joined hands. It is expected to target the domestic and foreign nuclear power plant market.

Enertech and Ewha Electric announced on the 6th that they had exchanged a memorandum of understanding (MOU) for the establishment of a battery pack joint venture in the presence of Enertech CEO Oh Deok-geun and Ewha Electric Vice President Shim Jeong-jeong.

The two companies decided to build a UPS battery pack factory in Gyeonggi-do with the goal of establishing a joint venture (JV) within this year. Specific UPS production capacity and customer companies have been decided through discussion later. A UPS is a type of medium-to-large energy storage system (ESS), which is an emergency power supply device that stores power and takes it out when needed.

Enertech entered into battery manufacturing in 2001 and has been recognized by domestic and foreign companies for its solid technology and production facilities. It supplies batteries for electric vehicles to US and Russian companies. In particular, the largest shareholder is the world's largest Russian nuclear power plant company, pursuing ESS and electric vehicle battery businesses.

Ewha Electric is promoting various overseas projects as the demand for domestic UPS products is increasing. In a situation where they are looking for a stable battery supplier, they are targeting the UPS market in cooperation with Enertech.

An official from the two companies said, "With a battery joint venture between specialized domestic manufacturers, we will seek new opportunities not only in the domestic market but also in overseas markets such as Russia and the Middle East."



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