YEO Technology expects its subsidiary Reap Battery to begin the mass production of battery energy storage systems in the second half of next year. The facility under construction is in Tuzla in Istanbul.
A new long-term financing package is keeping the Reap Battery gigafactory investment on track. YEO Technology didn’t disclose its lender or lenders, but it said its subsidiary would reach 1 GWh in annual capacity within the first year of its operation.
The beginning of mass production in Tuzla in Istanbul is expected in the second half of 2024, according to the update. The renewables and energy technology developer noted that it plans to boost the capacity to 5 GW per year.
YEO Technology to lean on machine learning in digitalization
Construction at the site of its existing research and development center was launched in September. The company, headquartered in the nearby Kartal district, also in the largest city in Turkey, pointed out that so far it invested only its own funds in the project.
YEO, which focuses on 3D, meaning digitalization, decentralization and decarbonization, will launch state-of-the-art solutions for storing energy generated from renewable energy sources in Turkey, Chief Executive Officer Tolunay Yıldız said. He added that the company would accelerate digitalization using machine learning and artificial intelligence, aiming to improve energy efficiency and sustainability.
Reap Battery to provide LFP systems
Reap Battery will make battery energy storage systems (BESS) for grids, renewable electricity plants, industrial and commercial facilities and households, the statement reads. The firm is focusing on Europe, the Middle East, Central Asia and Africa.
It said it would provide research and development, design and engineering of custom units, supply, production and operation and maintenance services.
The BESS technology developer is working on LFP (lithium iron phosphate or lithium ferro-phosphate) batteries, its presentations show. Reap Battery said its vision is to become the number one energy storage system manufacturer in Turkey and one of the top five in Europe.
Of note, Siro, a subsidiary of Turkish electric car maker TOGG and Chinese battery manufacturer Farasis, laid the foundation stone in April for its electric car battery factory in Gemlik near Bursa. It is the first in the country.
The energy storage market including production facilities is starting to emerge in the rest of the region tracked by Balkan Green Energy News as well. A Belgian company has just launched a EUR 1.1 billion project for a battery plant, recycling facility and an R&D center in neighboring Bulgaria. It should be noted, too, that North Macedonia is getting ready to adopt a package of laws regulating the sector.