Nilar signs record offtake agreement - Indutecc orders batteries for SEK 110 million

Nilar International AB has signed a new offtake agreement with Indutecc Renewable Solutions to deliver ReOx® batteries for integrated energy storage systems. The new agreement entails an order of EUR 10 million, or approximately SEK 110 million.

On May 7, Nilar International AB signed an offtake agreement with Indutecc Renewable Solutions. Indutecc is a leading manufacturer of electrical systems and automation solutions in the Netherlands, and the agreement represents a next step in the collaboration that began earlier this year. The company has long been an established specialist in technology and consultancy in solar energy installations and energy storage systems and is part of the 100-year-old Dutch family group Schuurman Group.

For a few months now, Indutecc and Nilar have been working in a joint development project to integrate Nilar's ReOx® batteries into Indutecc's energy storage solution for the commercial real estate market segment with system sizes between 50 and 500 kWh.

- The agreement we sign with Indutecc is the largest in Nilar's history. It is not only a statement of strength for our unique batteries with a focus on safety and sustainability, but also an important step closer to our high-set goals, says Erik Oldmark, CEO of Nilar International.

The batteries will be delivered starting in March 2024. Indutecc has previously acquired a number of energy systems from Enequi in which Nilar's batteries are integrated, the goal is to sell around thirty finished solutions in 2023.

 - Nilar's unique battery technology with strong advantages in sustainability and safety fills an important and clear need in the market as well as for the green energy transition. With the new agreement, we ensure an important piece in being able to offer high quality energy storage solutions with innovative functions for our customers energy challenges, says Rino van Deventer, CEO of Schuurman Group.