BatteryLoop partners with Mercedes-Benz Energy

BatteryLoop, a subsidiary to the Swedish recycling company Stena Metal Group, has signed a frame agreement with Mercedes-Benz Energy for the purchase of batteries, DC systems and engineering. The agreement could enable BatteryLoop to roll out energy storage systems of up to 40 MWh over the next 18 months. According to Batteryloop the agreement is worth 500M SEK ($53M).

Mercedes-Benz Energy is a division within Daimler which is specialized in reuse and redeployment of used batteries in energy storage solutions. The company has deployed a a large number of energy storage systems in the MWh scale. Batteries are sourced from Daimler's battery production, R&D vehicles and from in-warranty replacements. The company has developed a strong portfolio of ESS solutions and is already working with other car makers such as BAIC in China.

BatteryLoop also develops energy storage systems by sourcing both end-of-life and surplus batteries from EV manufacturers. The company is working with both Volvo Cars and the Volvo group.

The first ESS based on the partnership, a 2MWh/3MW ESS will be shipped by Batteryloop already during 2022. Batteryloop expect a life time of at least 10 years. After use in the ESS the batteries will be recycled by Batteryloop's affiliate Stena Recycling which currently is setting up a recycling facility in Halmstad, Sweden.