Waaree Technologies, the energy storage arm of Mumbai's Waaree Group, has entered a non-binding Memorandum of Understanding (MoU) with Israel's 3DBattery. Their collaboration seeks to develop and manufacture cutting-edge energy storage solutions utilizing 3DBattery's lithium-ion and forthcoming sodium-ion technology. 3DBattery specializes in advanced lithium-ion battery cells, catering to various applications like electric vehicles, micro-mobility, stationary, and renewable energy. Waaree Technologies aims to emerge as India's foremost 'Cell to System' technology firm, providing dependable, cost-effective, and top-notch energy storage solutions.

The collaboration between the partners intends to utilize Waaree's manufacturing strengths alongside 3DBattery's robust research and development capacities within the renewable energy storage sector. This partnership will empower Waaree Technologies to domestically produce high-performing, rechargeable energy storage solutions, thereby significantly enhancing the company's standing within India's and the global new energy sector.

Kirit Doshi, Chairman & MD of Waaree Technologies, expressed enthusiasm about 3DBattery joining as a partner. He highlighted the considerable research and development capabilities of 3DBattery and emphasized that, in conjunction with Waaree's expertise in manufacturing new energy solutions, it promises to revolutionize energy storage. By harnessing 3DBattery's groundbreaking lithium-ion and sodium-ion battery technology, Waaree aims to establish capacities for producing 5GWh of battery cells. Recognizing the increasing awareness regarding the necessity to diversify supply chains and reduce reliance on a single source, the ability to create India's first fully domestically manufactured next-generation battery system holds significant importance.