Gildemeister was one of the world's first and largest researchers, developers, manufacturers and distributors of vanadium flow batteries with over 100 flow batteries installed at sites around the world but went bankrupt in November 2017.
Sina has set up an Austrian subsidiary called Enerox GmbH in Vienna, and the Austrian receiver has transferred all the operational functions to the new company on April 1, 2018. This includes employee contracts, rental agreements, and all related contractual obligations. The company owns 19 patent families on flow battery technology, including 40 granted patents and key IP on plug-and-play flow battery technologies.
Stina expects the deal to close on or about April 11, 2018, when Enerox will be able to resume full production and sales of CellCube vanadium flow batteries.
"Enerox CellCube is one of a few proven technologies on all scales and sizes of vanadium flow battery storage requirements. Gildemeister had over 100 installations worldwide. We are on the threshold of an immense opportunity as the world embraces green energy and develops the efficient means to store it. We want Stina and Enerox to be the green energy solution," said Brian Stecyk, President and CEO of Stina.
CellCube batteries are non-flammable and non-explosive and can store megawatts or even gigawatts of energy with plug-and-play capacity that can be increased just by adding another unit. The batteries have over 20,000 cycles, last a minimum of 20 years and some that have been operating for over 10 years have never required servicing.
The vanadium flow batteries are currently operating in a broad range of climates including in Siberia, Africa, South East Asia, Europe, North America, and Australia. They can operate in all conditions—from extreme cold to dry deserts and extreme tropical environments.
"Since Stina began this process several months ago, we have received a tremendous number of queries about vanadium flow batteries, particularly in North America. The interest is continuing to grow as the world learns more about the benefits of vanadium flow batteries. The installations include applications such