- Statevolt unveils plan for a $3.2 billion Gigafactory in Ras Al Khaimah, UAE, to boost the global energy transition with advanced battery technology.
- Projected to create up to 2,500 direct jobs, the 60 hectares facility in Ras Al Khaimah Economic Zone (RAKEZ) aligns with the UAE’s vision for sustainable industrial development.
- Production will initially be focused on semi solid state battery cells before moving towards next-generation solid state to meet growing demands for energy storage solutions.
Ras Al Khaimah, UAE, April 3, 2024: Statevolt, a global leader in green industrialization, is today announcing its plans to construct a new state-of-the-art, technology-agnostic battery cell Gigafactory in Ras Al Khaimah, UAE. With a capital expenditure of $3.2 billion (USD), Statevolt Emirates, as the UAE venture will be known, will mark a significant milestone in advancing technological innovation in the energy storage sector (ESS).
Working alongside various industry and community partners, 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 Gigafactory is designed to set a new standard in battery technology with its superior safety and extended lifecycle, delivering battery solutions that are adaptable to a wide range of climates and conditions. 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.
Under the leadership of entrepreneur Lars Carlstrom, who is deeply committed to green industrialization and the creation of skilled jobs, Statevolt Emirates is set to lead the charge towards low-carbon energy solutions. The Gigafactory embodies Carlstrom’s vision of leveraging technological innovation for global energy transformation and local economic enhancement.
This ambitious project, with a site spanning 60 hectares in Al Hamra Industrial Zone in RAKEZ, 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.
The Gigafactory, positioned to meet the surging global demand for energy storage solutions (ESS), crucial for stabilizing the grid, enhancing renewable energy integration, and improving energy efficiency, is 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, Statevolt is well-positioned to address the growing need for sustainable energy management. These markets are increasingly pivotal, given their ambitious renewable energy targets and the essential role of energy storage in achieving these goals.
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.”
RAKEZ has closely collaborated with Statevolt on the initial setup activities in the Emirate and are committed to supporting logistics requirements and providing sufficient energy for the Gigafactory to operate at full capacity. Additionally, Statevolt has reached a commercial land agreement in RAKEZ, marking the first milestone in the development of this new project.
“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,” expressed RAKEZ Group CEO Ramy Jallad.
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.
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Notes to Editors:
About Statevolt Emirates:
Statevolt Emirates is a technology-agnostic, solid-state battery cell production gigafactory based in Ras Al Khaimah, UAE. Dedicated to advancing technological innovation through a modular design approach, we produce next-generation battery cells to enhance energy storage systems (ESS) in the UAE, India, Africa and the wider MENA region.
With a dedication to sustainability and advancing green technology, Statevolt Emirates will be setting a new standard in battery technology, delivering battery solutions with superior safety and extended lifecycle.
As the need for more sustainable energy management keeps growing, we aim to continuously enhance technological innovation and put sustainability first, contributing to the future of low-carbon energy solutions and playing an integral role in global energy transformation.
About RAKEZ:
RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 21,000 companies coming from over 100+ countries and operating in more than 50 industries.
RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has specialised zones that are tailored to specific needs of investors: Al Nakheel and Al Hamra Business Zones for commercial and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists; and an Academic Zone for educational providers.
A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.
For more information, please contact statevolt@manaraglobal.com.
For further updates about Statevolt Emirates, please follow us on LinkedIn: https://www.linkedin.com/company/statevolt-emirates/
