This deal highlights the paramount value of Nanotech's safe, long cycle life, graphene battery to the energy storage market. Partnership with Smile Energy will allow the immediate expansion of Nanotech's energy storage business to a region which has committed to developing the world's preeminent solar infrastructure. Together, Nanotech and Smile will play a key role in supporting Greece and the surrounding region to take the next steps to ensure stability of infrastructure and continuity of energy supply.
Dr. Jack Kavanaugh, CEO and chairman of Nanotech Energy, Inc., said: "We are delighted to secure these agreements with one of Europe's most forward-thinking renewable energy suppliers. As the world transitions to a new energy mix, battery storage will be critical to maximizing green energy opportunities. We look forward to working closely with Smile Energy together for many years to come."
Ioannis Apostolos Bobolas, General Manager of Smile Energy, said: "Using Nanotech Energy's safe graphene battery technology will give us a distinct competitive advantage when it comes to energy storage. The climate of southern Europe is ideal for solar energy, but it also presents challenges. That Nanotech Energy's battery technology is safe, longer lasting than traditional batteries, and works in temperatures up to 60°C all makes for a compelling proposition."
Smile Energy aims to operate the first commercial, stationary BESS for several Greek islands. It currently has 300MW of solar developments in Greece, Bulgaria and Romania, alongside 700MWh of energy storage in development across the same region. It will now use Nanotech Energy's non-flammable, safe battery technology to consider developing BESS for private homes, commercial real estate, and the marine sector and expand to the Balkans and the Middle-East.
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