Ras Al Khaimah will soon be home to a new state-of-the-art battery cell gigafactory, it was announced on Wednesday.
The $3.2 billion project, unveiled by US-based Statevolt, will mark a significant milestone in advancing technological innovation in the energy storage sector.
The project will cover 60 hectares in Al Ghail Industrial Park in RAKEZ. Moreover, it is anticipated to generate up to 2,500 direct job opportunities, fostering significant economic development in Ras Al Khaimah and the surrounding region.
Moreover, it aligns with the UAE’s strategic vision to become a leading hub for green technology and energy transition, reinforcing the country’s position as a leader in sustainable industrial development.
As part of the project, Statevolt Emirates will implement its modular design approach, allowing for a faster route to market as well as a solution to diversify production based on technology readiness. The factory will start by producing semi-solid state battery cells, with the aim to move to solid state battery cells once the project reaches full capacity. The first production line is expected to be fully operative by the end of 2026.
Read: Chinese startup introduces innovative nuclear battery
Focus on exports
The gigafactory will be strategically focused on key export markets such as Africa, India, the UAE, and the broader Middle East region, with an expected annual production capacity of up to 40GWh upon full operation.
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.”
“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,” said RAKEZ group CEO Ramy Jallad.
For more news on energy, click here.
