MOSCOW, 6 February. /TASS/. According to the Rostec’s press release, state corporation’s Ruselectronics Holding and Titan Power Solution have entered a partnership agreement to design and manufacture ultracapacitors and li-ion batteries for Russia’s fuel and energy sector and the road transport sector, which also provides for joint investment in hi-tech business ventures. According to a staement from Rostec, both parties are also thinking about creating a joint venture.

“The partnership aims to develop state-of-the-art energy storage solutions for the road transport sector and Russia’s fuel and energy sector. The project’s main objective is to design and bring state-of-the-art ultracapacitors and li-ion batteries to the market”, states Rostec’s press release.

The document signed by Vyacheslav Mikheev, CEO of Vega Group (affiliated with Ruselectronics), and Vladimir Vorozheikin, CEO of Titan Power Solution also provides for production localization and development testing at the group’s facilities, joint investments in business ventures in the power engineering, communications and telecommunications, transport, and other hi-tech manufacturing sectors.

Rostec expects that the bulk of their products will be ordered by a diverse range of transport manufacturers and fuel and energy sector companies. “In the context of a dynamic uptrend in demand for alternative energy sources, developing energy storage solutions will play a critical role. Ultracapacitors and li-ion batteries have an extensive range of applications: electric cars, solar and wind power plants, back-up power supply systems. Within the framework of our partnership with Titan Power Solution, we are planning to manufacture a wide range of ultracapacitors and solutions based on them, including unique technical solutions for individual clients”, reads the press release with reference to Oleg Evtushenko, Chief Operating Officer of Rostec.

“Cooperating with such a strong strategic industrial partner as Rostec, which has significant research and development resources, as well as engineering and manufacturing resources, makes it possible for Titan Power Solution to accelerate the process of bringing its advanced developments to market, boost output, and enables us to offer our clients innovative energy-efficient solutions based on innovative storage units”, said Vladimir Vorozheikin, CEO of Titan Power Solution.

Titan Power Solution is a Skolkovo resident specializing in the design, development, manufacture, and real-world application of solutions and systems based on ultracapacitors across a diverse range of economic sectors, including the automotive, energy, and telecommunications industries.