Energy Plug Technologies Corp. announced that it is finalizing a joint venture agreement with Malahat Nation to fast-track and localize battery pack assembly and the battery supply chain in Canada. The initiative is poised to create 100 in-demand Canadian and Indigenous manufacturing jobs within the clean energy sector, with the construction of a 100,000 sq ft.

10-gigawatt hour (GWh) facility. The Malahat facility, powered by British Columbia's cleanenergy supply, is expected to produce 100 MW of battery packs in its first year and by the fifth year, the facility aims to scale up manufacturing to a 1,000 MW of battery output, with the total targeted output reaching an impressive 10 GWh by year ten. This growth trajectory positions the facility to become the larger facility in Canada for the manufacturing and assembly of Battery Energy Storage Systems (BESS), thereby reinforcing Canada's pivotal role in the global battery supply chain.

In this joint venture, Malahat Nation will construct the 100,000 sq ft. facility with Energy Plug providing the technology, leadership, sales and strategic partnerships. Malahat Nation will hold a majority ownership stake of 51%, while Energy Plug will maintain a 49% ownership interest.

Both entities will collaboratively oversee and manage the joint venture, with an initial focus on the assembly of lithium-iron-phosphate (LFP) battery technologies. The LFP battery packs produced through this collaboration are expected to offer distinct advantages over other battery chemistries, including cost-effectiveness, extended lifespan, and enhanced safety features stemming from proprietary technologies. With governments, corporations, and consumers increasingly embracing the shift toward a green energy transition and a more stable grid, Energy Plug anticipates a rising demand for battery storage technology.

Additional details about technology and investment partners involved in the joint venture will be revealed in the coming months.