03 April, 2024, Ras Al Khaimah: Statevolt, a global leader in green industrialisation, has unveiled its intention to build a new state-of-the-art, technology-agnostic battery cell Gigafactory in Ras Al Khaimah, UAE. With an investment of $3.2 billion (USD), the new venture, named Statevolt Emirates, represents a major step forward in driving technological advancements in the Energy Storage Sector (ESS).

Collaborating with a range of industry and community collaborators, Statevolt Emirates will employ its modular design strategy, enabling quicker market entry and offering the flexibility to diversify production according to technological readiness. The Gigafactory is engineered to establish a new benchmark in battery technology, boasting enhanced safety features and an extended lifespan, providing adaptable battery solutions suitable for various climates and environments. Initially, the factory will focus on manufacturing semi-solid state battery cells, with plans to transition to solid state battery cells as the project reaches its full production capacity.

This ambitious project, located on a 60-hectare site in the Al Hamra Industrial Zone within RAKEZ (Ras Al Khaimah Economic Zone), is expected to create around 2,500 direct employment opportunities, driving substantial economic growth in Ras Al Khaimah and the neighbouring areas. Furthermore, it aligns with the UAE's strategic goal to emerge as a premier centre for green technology and energy transition, bolstering the nation's leadership in sustainable industrial advancement.

The Gigafactory is strategically designed to cater to the rising global demand for energy storage solutions, which are vital for grid stabilisation, facilitating the integration of renewable energy, and enhancing energy efficiency. The facility is strategically targeting key export markets including Africa, India, the UAE, and the wider Middle East region. With a projected annual production capacity of up to 40GWh once fully operational, Statevolt is well-equipped to meet the escalating demand for sustainable energy management. These markets are becoming increasingly important due to their ambitious renewable energy objectives and the critical role of energy storage in realising these targets.

In a press release published by RAKEZ, Lars Carlstrom, Founder-CEO of Statevolt said, "At Statevolt, our commitment to the global energy transition is founded on our focus on sustainability, efficiency, and innovation. Our $3.2 billion investment in the Ras Al Khaimah Gigafactory, using next-generation technology, highlights this commitment, aiming to meet the growing demand for energy storage solutions across Africa, India, the UAE, and the Middle East. We greatly value the support from the Ras Al Khaimah Economic Zone authorities and are confident that our partnership will bring success and significant opportunities for the community. We are happy to be able to be a player in one of the world’s most prospering economies who are now taking the lead in new industrialization."

Additionally, RAKEZ Group CEO, Ramy Jallad stated, “We are thrilled to have welcomed Statevolt to our growing community of pioneering enterprises dedicated to sustainable innovation. The outstanding facilities provided by the emirate of Ras Al Khaimah are in perfect harmony with Statevolt’s ambitious production objectives and RAKEZ is committed to supporting the company’s journey every step of the way, ensuring all the requirements are fulfilled for the successful gigafactory project. This synergy enhances our collective pursuit of sustainability, aligning with the emirate’s Energy Efficiency and Renewables Strategy 2040. Statevolt’s presence marks a significant milestone in our journey towards a greener future and reinforces our commitment to attracting leading-edge companies that share our vision for creating a sustainable ecosystem.”

RAKEZ has partnered closely with Statevolt on the preliminary setup processes in the Emirate and is dedicated to facilitating logistics and supplying ample energy to ensure the Gigafactory operates at maximum capacity. Furthermore, Statevolt has secured a commercial land agreement with RAKEZ, signalling the first significant step in the progression of this new venture.

Following the land agreement, Statevolt will be applying for building permits, and expects to have the first production line fully operative by the end of 2026.

As the demand for renewable energy storage solutions continues to grow, this ambitious initiative underscores Ras Al Khaimah's position as a leading hub for technological innovation and investment in the region. The establishment of the Statevolt battery gigafactory is expected to have a transformative impact, reinforcing the Emirate's commitment to fostering economic growth, promoting sustainability and shaping the future of the global battery industry.