NW, the French leader in electricity storage, and HyperStrong, the Chinese leader in energy storage system integration, have signed a partnership to jointly develop and operate JBox® and IECharge® products and solutions, along with associated services, in Asia.

The joint venture, based in Singapore and named NW Storm HyperStrong Asia, aims to deploy and operate distributed electricity storage units (JBox®) and high-power charging stations (IECharge®). The company will operate across the entire Asian continent, excluding South Korea and Japan.

This strategic partnership leverages the complementary expertise of both companies. NW is a leading player in electricity storage with 1 GWh in operation across France, Finland, and Texas. It is also active in the electric mobility sector with 140 high-power charging stations in France and has a significant presence in the electricity markets.

HyperStrong, a leader in China for the integration of battery energy storage systems, possesses strong industrial know-how, with a cumulative installed capacity of over 20 GWh, and extensive expertise in battery energy storage system integration. Its established presence in Asia and its deployment agility makes it the ideal partner for NW’s expansion into this new region.

Since September 2023, the two companies have been cooperating to expand NW’s products internationally. This new partnership is fully aligned with the strategic goals of both signatories.

“We are excited to take this next step with our partner HyperStrong, which will allow us to combine technological innovation with industrial development to create competitive flexibility services in Asia, supporting the energy transition for all,” said Jean-Christophe Kerdelhué, Founder and CEO of NW, who added, “We are proud to export French expertise to Asia.”

This partnership comes at a time of strong growth in renewable energy and an increasing demand for electricity storage solutions in the Asian market. In May 2024, China set a new target of at least 40 GW of battery storage by the end of 2025 according to Reuters.

Dr. Jianhui Zhang, Founder and CEO of HyperStrong, said: “Partnering with NW is an important step forward in our commitment in global clean energy transition. The new joint venture is the continuation of the successful partnership between two parties, with particular emphasis to expedite the deployment of cutting-edge, resilient energy storage technologies in Asian market.”

NW announced today that it has secured € 430 million in non-recourse bank financing from international banks Santander CIB and Rabobank. This amount will enable the Group to operate more than 2 GWh of storage capacity in France and Finland by the end of 2025.

Complementing the equity financing of €300 million to be raised in 2022, this financing by two leading institutions confirms the solidity of NW’s business model in France and, for the first time, internationally.

The first French unicorn in the energy transition, NW is the French leader in electricity storage, with over 600 MW of installed capacity and more than 130 ultra-fast charging stations (IECharge®). The Group will use the new funding to finance the development, production, operation and upgrading of new JBox® distributed electricity storage units in France and Finland. Developed by NW since 2018, the JBox®, is a solution based on lithium-ion battery technology, offering stability and flexibility services to the electricity grid, in order to accelerate the electrification of uses for all. This offer also accelerates electric mobility for all: when a JBox® is combined with an IECharge® (another solution proposed by NW and entirely financed by equity capital), NW is able to provide its end-users with the cheapest charging price in Europe at 25ct/kWh, i.e. around €5 per 100 km.

With the growth of intermittent renewable energies, the storage industry has great potential for development.

“Today, NW is entering a new phase of growth, demonstrating the solidity of its business model. The projects financed will strengthen our position as the French leader in electricity storage and position us as a key player in the Finnish market. We are very proud to have won the confidence of Rabobank and Santander, international banks with a particularly strong reputation in the energy transition, and this is a fundamental step towards our ambition of operating more than 5 GWh of storage by 2028”, explains Jean-Christophe Kerdelhué, Founder and CEO of NW.

“We are very proud to support the NW Group in this flagship project: with its rapid international growth and at the forefront of innovation, NW is already positioning itself as one of the key leaders in the energy transition of tomorrow’s Europe ,’ emphasises Marco Cesarini, Senior Banker Santander CIB.

“As a leading bank in the energy transition, we are fully committed to supporting not only their expansion, but also the wider development of sustainable infrastructure. Our partnership is based on a shared vision of powering our future with clean, reliable energy, and we are delighted to contribute to their continued success in this vital sector”, said Benoît Felix, Global Head of Structured Finance at Santander CIB.

“Rabobank’s commitment to ‘building a better world together’ is largely realised through the financing of key players in the transition, particularly energy, of which NW has already become a spearhead. Today, NW is a leader in electricity storage, an essential link in the growing trend towards electrification, and is deploying a proactive international strategy that Rabobank is proud to support with its sector expertise and financing structuring capabilities”, emphasizes Thibaut Arles, Managing Director of Rabobank.

On Wednesday, the list of the 120 most promising French companies, selected by the French government and the French Tech Mission, was announced. NW Group, France’s first energy transition unicorn, maintains its position in the Next40 program. This program selects the 40 most successful startups in the French ecosystem and highlights their status as spearheads of the national economy.

The French Tech Next40/120 Class of 2024 confirms NW’s position as a world-class technology leader. Selected on the basis of their economic performance, the 2024 laureates play a crucial role in the ecological transition, reindustrialization, health, food, mobility and energy.

We are proud to be included in the French Tech Next40 ranking for the second time, a distinction that confirms our commitment to the ecological transition. This recognition is also due to all the NW teams and our partners who work every day to develop our two innovative solutions, the JBox® and the IECharge®. NW is the only player that masters all the skills required to carry out its projects: developing, operating, financing and valuing. A dedicated digital infrastructure designed by our Engineers supports our growth. ”

As the first French unicorn of the energy transition, NW plays a crucial role in the ecological transition. Thanks to its unique combination of storage (JBox®) and high-power electric charging stations (IECharge®), a patented world-class innovation, NW is now the French leader in distributed energy storage with its JBox® units. With its IECharge® stations, NW is also the fifth French operator of electric charging stations above 150kW.

Today, NW operates and manages more than 500 MW of storage (JBox®) and more than 120 electric charging stations (IECharge®). These infrastructures aim to promote an energy transition accessible to all by supporting the development of renewable energies. They also provide affordable high-power charging for electric vehicles, with the most competitive rate in Europe at €0.30/kWh.

NW continues to grow in France and internationally, in Finland, Texas, Sweden and Italy. The Group has signed several major partnerships for the installation of its solutions, including with the Groupement Les Mousquetaires and Mobilians.

With the ambition to take concrete actions for the energy transition, Nidec, a world leader in stationary energy storage systems, and NW, the first French unicorn in the energy transition, are joining forces to deploy 2.5GWh of storage capacity in France by 2028. These future developments are part of the collaboration between Nidec and NW that began in 2018.

Two solid areas of expertise in the storage sector. Nidec is a specialist in the supply of customized electrical systems that improve energy efficiency, backed by over fifty years of experience. With more than 500 MW installed, NW is the French leader in energy storage.

Working together for the development of renewable energies… Today, Nidec is joining forces with NW to deploy 2.5 GWh of storage capacity in France over the next four years. With the growth of renewable energy, which is by nature intermittent, the power grid needs more flexibility. Energy storage meets this need.

… by offering French solutions. A large number of JBox® distributed energy storage units will be installed throughout France. Developed by NW since 2018, the JBox® is a solution based on lithium-ion battery technology. It takes the form of a plug-and-play container assembled at Nidec’s Saint-Etienne plant. These energy storage units provide frequency ancillary services to the power grid. The first deployments are planned for June so that these units can participate in the automatic frequency restoration reserve market, which will open at that time.

“We are very pleased to continue our collaboration with Nidec, our long-standing partner. These new projects are an important step in the development of our storage units in France. With its commitment to energy efficiency, Nidec shares NW’s vision of providing innovative technological solutions that make the energy transition accessible to all”.”

With a shared commitment to developing electric mobility and taking concrete action for the energy transition, Volvo Car France and NW, the first French unicorn in the energy transition and a pioneer in electric charging, have joined forces to install high-power electric charging stations in Volvo’s network dealerships.

Two converging ambitions. For Volvo, sustainable development is a strategic priority. The company has set itself the goal of selling only electric vehicles on the French market by 2026. NW, which is present in rural and suburban areas, intends to deploy its high-power electric charging stations to support this objective.

Ensuring the electrification of the regions. Available throughout the country, especially in rural and suburban areas, the IECharge® high-power charging stations are developed by NW. They are the result of a unique alliance between electric charging and distributed energy storage. At each of Volvo’s 126 distribution points, a study will be carried out on the deployment of IECharge® charging stations, at the request of Volvo’s dealers. At each site, the grid connection and compliance with local urban planning regulations will be analyzed.

The lowest charging rate on the market
Each IECharge® charging station is connected to a JBox® storage unit, which guarantees charging performance, even when several vehicles are charging at the same time. Thanks to this worldwide patented alliance, NW is able to offer the lowest high-power charging rate on the European market at €0.30/kWh.

“The objective of the agreement signed between Volvo Car France and NW is to contribute to the national roll-out of ultra-fast charging solutions for customers (Volvo and others) by offering Volvo dealers an exclusive partnership to benefit from the installation of IECharge® high-power charging stations. The NW Group stands out in the field of electric charging for its determination to develop its solutions in areas where there is lest infrastructure for fast charging,” says Yves Pasquier-Desvignes, President of Volvo Car France.

“With this partnership, we continue our mission to make electric mobility accessible to everyone, everywhere. To date, 110 IECharge® stations are in operation. Through its commitment to sustainable development, Volvo Car France shares NW’s culture of providing high-quality, innovative solutions that promote the energy transition,” said Jean-Christophe Kerdelhué, Executive Chairman and Founder of NW.