HHI entered into an agreement with Ogwind. The company is engaged in the storage of energy by compressed air, in an agreement to establish a storage system in AirBattery technology at a rate of 40 megawatts per hour. The storage system will be set up at a power station substation and Ogwind will also provide operation and maintenance services for a period of 20 years. At the same time, it was agreed that the parties would consider setting up additional projects in AirBattery technology for HHI, this deal brings Augund’s backlog to more than 200 megawatts per hour.
According to Dr. Or Yogev, founder and CEO of the company: ‘This is a very important agreement for Ogwind with broad implications in many ways.
The IEC examined Ogwind’s storage solution and selected it for installation at the company’s substation in the south of the country.
This decision constitutes recognition of AirBattery as a first-class storage system. The choice of us as a preferred solution for storing energy by a professional and prestigious body such as the Electric Company, which operates in a developed country like Israel, is a full expression of trust in the company and its product, and in our estimation this will have consequences internationally.
The approval of the transaction brings Augwind’s backlog of energy storage to over 200 megawatts per hour, with the company conducting processes with entrepreneurs and potential customers in Israel and around the world in connection with other projects. The agreement announced today will contribute to international recognition and business development.
“I am confident that we currently have a winning combination of leading technology in the field of energy storage, with an experienced management team in managing global activities that combine unique technology and initiating projects. Nature will harness them for a cleaner and greener future. ‘