Home-grown energy storage technology secures US$20 million funding from global infrastructure firm

Home-grown energy storage technology secures US$20 million funding from global infrastructure firm

/ Renewables / Monday, 28 March 2022 11:26

In line with the push for cleaner energy solutions, Burkhan International Development Corporation (“BIDC”), a global infrastructure development company based in Washington, DC has announced a US$20 million investment in Enercap Holdings Pte. Limited (“Enercap”), the holding company behind the invention, development, manufacturing and commercialization of Supercap Energy Storage.

BIDC’s investment in Enercap demonstrates the growing need for Supercap Energy Storage as an alternative to chemical batteries to enable sustainable energy transition in delivering infrastructure as a service (IaaS). The signing of the deal between the two entities took place at the Ritz Carlton in Dubai.

Highlighting the motivation to fund Enercap’s breakthrough innovation, Shahal Khan, CEO of BIDC said, “Conventional batteries do not deliver the reliability or longevity to attract the investments required to bring about meaningful improvement in infrastructure and transition to electrification. Supercap energy storage, developed by Enercap’s subsidiaries in Dubai, provides the leap in storage technology that is necessary to accelerate the adoption of renewables, electric transportation and decarbonization when it is needed the most. We are excited to support Waseem Qureshi and his team in their vision to enable decarbonization, electrification and the shift to supercap based energy storage from chemical storage.”

Khan said that the Supercap Energy Storage was a proven product, which was now accelerating into a product that could be manufactured in a mass scale at very low cost and added that the degradation level of this battery was so low that it could be used as utility in poorest of countries who do not have access to national grid.

Meanwhile, Waseem Ashraf Qureshi, CEO of Enercap and the inventor of the technology, said, “We have been able to scale the production and give markets access to Supercap Energy Storage in 54 countries. I'm really very happy and thankful to Bhutan and for allied with these inventions with this investment. We are sure that we'll be able to roll out this technology to every corner of the globe and they will definitely give us access to the listing for the NASDAQ. It will enable us to participate in BIDC’s mission of developing the largest IaaS smart solutions in the UAE and implementing them to consolidate efforts in bringing to life long term positive impact and change which will aid in the evolution of our society. From rechargeable AA cells to mobile phone storage to EV charging stations to utility grade storage, we have spent the past five years building the most advanced energy storage solutions in the world.

Energy storage is a critical element of the energy transition with electrification and decarbonization requiring performance which is increasingly beyond the scope of chemical batteries. Supercap Energy Storage, developed by Enercap’s subsidiaries in Dubai meets the demanding requirements—non-chemical Supercap based, with long life, no capacity degradation, environmentally sustainable and recyclable, and with abundant availability of raw materials. Its non-degrading attribute allows Supercap Energy Storage to deliver consistent and predictable capacity over its 25-year life cycle.

Enercap orchestrates the commercial growth and roll-out of technologies through subsidiaries in the UAE and USA including Kilowattlabs, Infusion Power Industries LLC, Infusion Solar Energy Systems LLC, WRL Technologies INC and PERCO Energy Rental.

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