Mitsui establishes a joint project company with Groupe Renault, Demeter and The Mobility House to provide power supply optimization capabilities in Germany using EV batteries

Aug. 30, 2019

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga), in partnership with Renault S.A.S ("Renault"), Fonds de Modernisation Ecologique des Transports (an infrastructure fund managed by France-based Demeter), and The Mobility House AG ("TMH"), established Tokai 2 GmbH ("Tokai2") in August 2019, a joint project company which will provide power supply optimization capabilities in Germany using an energy stationary storage system with energy sourced from Renault electric vehicle (EV) batteries.

Tokai 2 will develop a stationary storage system which will have a total power output of 20 MW upon completion. The storage system will use Renault EV batteries deployed in containers that will be installed in different locations. It will provide frequency containment reserve service to the German power grid using the intelligent commercialization technology developed by The Mobility House. In the future, it will also aim at providing energy management services utilizing batteries storage capacity to industrial customers and power providers.

Mitsui share the vision of an intensifying trend towards electric and shared mobility. The company, which has continuously promoted the reinforcement of the foundations for this trend as well as the expansion and development of related businesses, began investing in TMH back in 2017. Through this new project, Mitsui will make full use of the comprehensive experience it has developed through its automotive, electric power infrastructure, and energy businesses. Mitsui will work towards the commercialization of innovative European business models that enable to create new value and opportunities out of the rise of renewable energy and EV growth, with the aim of developing them further in other regions such as the U.S and Japan.

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