CELLCUBE ENERGY STORAGE SYSTEMS INC announced Pangea Energy Pty Ltd. have signed a Letter of Intent on May 13, 2019 to build a 50MW /200MWh Energy Storage System on grid scale level in Port Augusta, South Australia. The aim is not to only to offer multiple grid services such as voltage compensation, reactive power and frequency regulation services but offering renewable baseload to the Australian market which goes hand-in-hand with a planned 50MW solar project at the same site. Due to issues with network stability, Australia has realigned its focus on the development of grid scale energy storage projects to complement its growing renewable energy mix. Following a series of large scale projects based on lithium technology the authorities in Australia have re-enforced project developers and IPP's to consider long duration storage as base technology to allow for a more sustainable and green baseload alternative in the gigawatt-hour range. The Pangea Storage Project was initiated in 2016 and after securing requisite regulatory approvals, is on the later stages of pre-development. Developed over 79 hectares in Port Augusta, South Australia, Pangea will invest around USD 200 million dollars into the project, stimulating the local economy, creating direct and indirect jobs, and supporting the aspirations of Port Augusta to be a renewable energy hub. Pangea Energy will build, own and operate the site and procure from CellCube products and services which may include an electrolyte service as a co-funding mechanism. The companies are currently conducting the due diligence and reviewing the offtake conditions for starting constructions in late 2019 with plans to be operational in 2020.