InoBat and CEZ have signed a Memorandum of Understanding to explore the development of energy storage projects in the Czech Republic and Central Europe.

InoBat is developing a pan-European battery centre, headquartered in Slovakia, with the aim of establishing demonstration and production lines with applications in electro-mobility (electric vehicles, hybrid vehicles), energy storage (utility scale storage systems) and alternative fuels (hydrogen).

CEZ is a power company and the partnership with InoBat envisages cooperation in developing a variety of energy storage projects in the CEE region.

"Signing the MoU with CEZ marks a significant milestone for InoBat," said Inobat co-founder and executive chairman, Marian Bocek.

"The envisaged cooperation with an industry leader such as CEZ is a crucial step towards creating a complex value chain that will serve the European market with energy storage projects."

InoBat is a regional accelerator established in 2018 with the long-term objective of serving the European market with new energy solutions.