$28.9 Million Energy Storage Order For Leclanché

Leclanché has secured a $28.9 million order for a 53 MWh battery system to be installed in Ontario. It is part of an even bigger project, which is worth $45 million. This second part will provide ancillary services to the Independent Electricity System Operator for the Canadian provinces.

Swiss Export Risk Insurance (SERV) will provide access to a $6 million revolving credit insurance facility for Leclanché.

“The Company is building upon investments already made and scaling up its operation to deliver between 150MWh to 200MWh of industrial grade energy storage systems in 2017, thus firmly putting ourselves on the path to delivering sustainable profitable growth,” said Leclanché CEO Anil Srivastava.

In 2012, Leclanché installed a production facility with the capacity to produce one million battery cells. The company was founded in 1909, and began making energy storage modules for renewables in 2011. In 1987, it produced lead-acid batteries. Today, it focuses on lithium batteries.

Image Credit: David Wilson (Creative Commons 2.0)