GE Vernova and Our Next Energy have signed a term sheet to collaborate toward advancing battery energy storage solutions in the U.S. using locally manufactured batteries.
The collaboration covers the supply of Our Next Energy’s battery modules containing U.S.-manufactured lithium iron phosphate cells for GE Vernova’s Solar & Storage Solutions business projects across the country. With the integration of locally manufactured LFP batteries, GE Vernova and its customers will be able to take advantage of incentives offered by the Inflation Reduction Act and investment tax credits.
“Battery Energy Storage Systems are vital for the renewable energy transition and grid stability. GE Vernova has deployed its FlexReservoir BESS systems globally,” says GE Vernova’s Prakash Chandra. “Now, in partnership with Our Next Energy, we’re bringing American-made batteries to power local communities, bolstering manufacturing and job growth.”
“Storage is the key to stabilizing the grid. In addition, it unlocks 100% renewable energy to power factories, communities, hospitals, and data centers,” adds Mujeeb Ijaz, founder and CEO at Our Next Energy.
“As demand increases for energy storage systems, we are honored to play a role in helping GE Vernova and its customers transition the U.S. to more sustainable power sources by providing them with domestically produced batteries and cells.”