CellCube Energy Storage Systems Inc. has announced that Pangea Energy Pty Ltd. and CellCube's 100% subsidiary Enerox GmbH in Wiener Neudorf, Austria, have signed a Letter of Intent on May 13, 2019 to build a 50MW / 200MWh Energy Storage System on grid scale level in Port Augusta, South Australia.
The Pangea Storage Project was initiated in 2016 and after securing requisite regulatory approvals, is on the later stages of pre-development. Developed over 79 hectares in Port Augusta, South Australia, Pangea will invest around US$200 million dollars into the project.
Pangea Energy will build, own and operate the site and procure from CellCube products and services which may include an electrolyte service as a co-funding mechanism.
The companies are currently conducting the due diligence and reviewing the offtake conditions for starting constructions in late 2019 with plans to be operational in 2020.
