CellCube Flow batteries receive bankable insurance from Munich Re

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Strong points :

  • CellCube can now offer its Vanadium Redox Flow (VRFB) batteries including bankable insurance to ensure product accuracy and performance.
  • Under its “CellCube” brand, the Austrian company Enerox GmbH develops, manufactures and distributes vanadium redox batteries.

A contractual partnership with Munich Re (Muenchener Rueckversicherungs-Gesellschaft AG) gives Enerox GmbH (CellCube) the ability to offer their Vanadium Redox Flux (VRFB) batteries, including bankable insurance to ensure product and product accuracy. performance, CellCube announced in a recent release. .

Under its “CellCube” brand, the Austrian company Enerox GmbH develops, manufactures and distributes vanadium redox batteries.

The company’s customers can choose this added bonus of Munich Re’s 10-year long-term performance guarantee, and have the option of re-certification to extend coverage for another decade, CellCube added. This is to ensure a continuous level of operation, to insure against malfunctions and to cover repair or replacement cost overruns, manufacturing problems as well as potential manufacturer insolvency.

The diffusion of decarbonization technology is increasing, as competition and pressure on costs and commercial reality create a real need for adequate insurance and bankability in this area. “When it comes to deploying long-lasting, green energy storage, guarantees and guarantees for high initial investments and planned profits become increasingly important to our customers, especially when business cases include business risks, “says Alexander Schoenfeldt, CEO of Enerox,” Munich Re’s coverage ensures the performance of our systems at all times throughout their lifecycle, designed for and well in excess of 20 years.

In South Africa, Enerox will provide a 1MW / 4MWh CellCube solution to a solar mini-grid and storage project funded by a project at the Bushveld Vametco extraction and processing facility in Brits, South Africa. “Munich Re’s insurance product helped us move this project forward in terms of bankability with project shareholders, lenders and the project’s EPC / O&M partner,” says Mikhail Nikomarov, CEO of Bushveld Energy, and continues : “It creates significant comfort around the long-term performance of VRFB technology in general, and of the CellCube product in particular. As a result, this reduced both the risk and the cost of financing this project. “


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