• The two will jointly develop next-generation battery technology and storage products for the utility and commercial and industrial markets.
• The cooperation covers battery cells, battery systems, energy management software and AI optimization algorithms.

Chinese battery maker Farasis Energy (SSE: 688567) has signed a strategic cooperation agreement with German energy technology company WLF Energy, aiming to expand its overseas energy storage footprint.

The two sides will jointly develop a technology and product roadmap, with the goal of co-developing next-generation battery technology and energy storage products, according to a statement from Farasis on Wednesday.

The products will target the utility, commercial and industrial, as well as distributed energy storage markets.

Farasis president Dong Ligang and WLF Energy founder and CEO Sebastian Wolf signed the agreement on behalf of the two companies.

The cooperation covers the deployment of battery cells, battery systems, energy management software and large-scale storage solutions.

The two sides plan to deeply integrate Farasis' battery technology with WLF Energy's AI-powered energy management system.

The move aims to optimize battery performance, cost, safety and lifecycle economics, according to Farasis.

The two will also explore application scenarios including virtual power plants, smart energy infrastructure and grid stability.

The two companies plan to draw up a long-term technology roadmap for the next decade, which includes evaluating multiple battery chemistries, advanced battery management technologies and AI-driven optimization algorithms.

The two sides will work together to expand into markets including Europe, Asia, North America, the Middle East and Africa, according to Farasis.

Farasis is one of the major makers of pouch power batteries. The company has expertise in battery chemistries, technology development and large-scale production.

WLF Energy, meanwhile, is committed to building an integrated clean energy platform that combines battery technology, energy management systems, AI and project development capabilities.

The cooperation marks an important step in Farasis' globalization strategy. It is also an attempt by a Chinese company to integrate into overseas markets through a combination of technology output and local collaboration.

Farasis is one of the smaller players in China's power battery manufacturing sector. The company ranked 10th in China's ternary lithium battery market in May with a 0.04% share, according to data from the China Automotive Battery Innovation Alliance (CABIA).