IT service provider TES has invested in GenPlus, a Southeast Asia provider of energy storage systems (ESS) and power systems.
GenPlus offers solutions that use retired electric vehicle batteries for various commercial and residential energy needs in the secondary market. ESS uses a network of optimally connected second-life battery cells to store electricity, and they are a viable power alternative for green energy plants, remote mining power, and base transmit stations, as well as other applications.
The commitment to GenPlus complements TES’s recent $25 million investment in new lithium battery recycling facilities in Singapore and Grenoble, France.
“Looking ahead, by 2030, there will be over 6 million battery packs retiring from electric vehicles each year,” said Gary Steele, CEO of TES. “The global ESS processing infrastructure does not have enough capacity today to provide those batteries with the second life that true closed-loop solutions demand.
