Energy Plug Technologies Corp. announced that, together with Malahat Battery Technologies Corp., it has entered into a Memorandum of Understanding ("MOU") with Enwind Power Co Ltd. ("Enwind Power"), a company specializing in the research and development of power sciences and battery based applications in Taiwan. In accordance with the MOU, the parties aim to collaborate on the research and development of microgrid application system products and utility-scale Battery Energy Storage System (BESS) products and joint research for battery-derived energy applications.

In addition, the parties seek to devise strategies for product localization and battery software systems tailored for the Canadian, North American, and Latin American markets. The provisions of the MOU are non-binding except for the sections related to public announcements and confidentiality. The parties intend to negotiate in good faith and execute a binding agreement within sixty days of the execution of the MOU.

Battery storage system capacity is expected to quintuple by 20301. The microgrid, which is a localized group of electricity sources and loads that can operate synchronously or independently from the traditional electric grid, is a fast-developing segment of the Battery Energy Storage Systems (BESS) market. Energy Plug is currently developing a 20kWh power pole-mounted battery system and a 100kWh ground pad battery system.

Through its cooperation with Enwind Power, Energy Plug intends to provide engineered solutions to utilities, commercial and industrial verticals to support the expansion of the microgrid industry in Canada.