Rimac Technology, the EV components unit of Rimac Group, has announced the launch of a new subsidiary called Rimac Energy that will produce next-generation stationary Energy Storage Systems (ESS).
The entry into the stationary energy storage systems market – currently dominated by Tesla with its Megapacks – marks a major milestone for the Croatian company as it expands beyond manufacturing electric hypercars and EV technology.
In a press release, the firm founded by Mate Rimac says the stationary solutions are “essential in realizing the full potential of renewable power generation and driving the decarbonization of our energy networks.”
The company has built the Rimac Energy team over the last 18 months as a specialized unit within Rimac Technology. The new subsidiary now has 60 dedicated employees, all of whom are currently working on Rimac’s first generation of stationary ESS and pilot applications with select customers.
Rimac Energy did not get into too much detail regarding the specifications of its ESS products, but said it is applying the same engineering philosophy and design know-how as for its EV powertrain components.
The Rimac Group subsidiary said it has created a novel battery architecture that reduces efficiency losses by up to 50 percent whilst decreasing the system footprint by up to 40 percent compared to current state-of-the-art solutions.
In addition, Rimac‘s ESS products benefit from technological benefits such as improved cycle life, built-in redundancy for increased availability, as well as competitive material and installation cost.
“At Rimac we have always been driven by innovation and a passion for pushing the limits of what is possible in the automotive industry. However, we recognize the importance of stationary storage solutions to power our planet sustainably. Given our track record in innovative battery technology, we believe we will play a vital role in building Europe’s future energy ecosystems, elevating it on the global stage.”
Rimac Energy’s Director, Wasim Sarwar
The company will initially provide solutions for large commercial, industrial, and utility-scale applications, with battery-buffered solutions for fast and mega-watt charging already underway. It currently has several customer projects in discussion, including a pilot with a leading renewable energy company to provide battery storage solutions for its solar and wind power plants.
The pilot systems are expected to be manufactured by the end of this year and installed in 2024. Mass production is projected to start in 2025 at the Rimac Campus in Croatia, scaling to more than 10 GWh of annual production.
All Rimac Energy products are fully designed, developed, and produced in Europe. The firm will provide insights into the technology later this year.
Mate Rimac, CEO and founder of Rimac Group