On Feb. 2, 2023, Pomega Energy Storage Technologies, a subsidiary of Kontrolmatik Technologies, will host a groundbreaking ceremony for its first U.S. lithium-ion battery manufacturing plant in South Carolina.
As construction of its lithium-ion battery factory in Ankara nears completion, Kontrolmatik Technologies announced in December its plan to build a 500,000-square-foot facility in Colleton County that is expected to begin production in mid-2024, create about 575 new jobs and have an initial production capacity of 3 gigawatt-hours (GWh). The company plans to later increase capacity to 6 GWh and has secured land to expand operations. The company will invest $300 million in upfront capital expenditures in the new facility.
Pomega will manufacture lithium iron phosphate cells designed exclusively for North American grid-scale energy storage applications. In addition to manufacturing the battery cells at the South Carolina plant, Pomega will also manufacture and assemble turnkey battery energy storage systems (BESS), including modules, cabinets and final containerized energy storage solutions.
When production begins at the company's South Carolina plant, Pomega will be one of the first and only U.S. manufacturers of lithium-ion batteries dedicated exclusively to the domestic utility-scale energy storage market, as opposed to the electric vehicle market where the vast majority of new investments are currently focused. This will place Pomega at the forefront of the energy storage revolution, allowing it not only to vertically integrate its own supply chain for BESS, but also to supply other domestic BESS integrators with these crucial lithium-ion batteries. To this end, the company has already begun signing offtake agreements for its future capacity.
JLL, a leading professional services firm specializing in real estate and investment management, led the nationwide site selection process. The JLL team analyzed more than 200 sites to identify locations that could be suitable for the plant. Pomega is proud of the strong relationships it has already established with South Carolina state officials, who have offered a generous package of various employment-related tax credits and exemptions. As for the expected production tax credits (PTC) expected to be collected as per IRA, the calculation is based on an annual PTC of $35/KWh for battery cells and $45/KWh for modules. Taking into account the company's projected product mix for a total of 3 GWh of PTC for 2024-2029, phasing out at 25% per year between 2030-2032, the total estimated amount is $916 million.
During the groundbreaking ceremony on Feb. 2, Pomega will present details of the work currently underway with local partners to shape the contours of the project and reveal how the plant will engage South Carolina's entire ecosystem of expertise.
The Governor of South Carolina, the Honorable Henry McMaster, is the guest of honor at the ceremony. Governor McMaster has previously highlighted the importance of the clean energy revolution to South Carolina's growth and prosperity, and Pomega plant exemplifies such an opportunity.
Governor McMaster will be joined by Sami Aslanhan, Chairman of Kontrolmatik. Leaders from local and state government and South Carolina's energy sector will also attend the ceremony.
Speakers at the event include the Governor, Bahadir Yetki, U.S. CEO of Kontrolmatik Technologies and Pomega Energy Storage, leaders from the South Carolina Department of Commerce, local energy partners and local government officials.
About Kontrolmatik Technologies
Since 2008, Kontrolmatik Technologies has been providing end-to-end digital solutions in the areas of energy generation and transmission, energy storage and Internet of Things (IoT), developing innovative and green technologies for a sustainable and carbon-neutral planet. Kontrolmatik's core business is brand-independent energy system integration and automation. To date, more than 300 projects have been implemented in over 30 countries in collaboration with supranational financial institutions (World Bank, IFC, EBRD, etc.). Kontrolmatik is listed on the Istanbul Stock Exchange (approx. $1.5 billion market capitalization).
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