CATL, Octopus Energy and Ampace sign MoU to explore home energy storage in Europe

• The 3 parties will prioritize markets including the UK, France, and Spain to explore energy storage solutions for European households.
• The partnership will cover rooftop solar, smart charging, and virtual power plants, extending the European business cooperation between CATL and Octopus Energy.

CATL (HKEX: 3750) has signed a strategic memorandum of understanding (MoU) with Octopus Energy and Ampace, targeting Europe's smart home energy storage market.

The 3 parties recently signed the agreement and will prioritize markets including the UK, France, and Spain to explore energy storage solutions for European households, CATL said in a statement on Wednesday.

The tie-up extends the scope of cooperation between CATL and Octopus Energy from commercial heavy-duty trucks to household energy. The 2 companies previously announced a partnership in June this year, planning to build a heavy-duty truck battery-swapping network in Europe.

Under the latest MoU, CATL will provide technological and supply chain support, while Ampace will be responsible for the research, development, and manufacturing of battery cells, battery management systems (BMS), and energy storage systems.

Octopus Energy will provide European user channels and introduce smart dynamic tariff algorithms as well as virtual power plant (VPP) access services, integrating energy storage hardware with home energy management.

The 3 parties will also explore synergies across areas including rooftop solar, smart charging, vehicle-to-grid (V2G), and VPPs, enabling household energy storage assets to participate in grid dispatching.

The cooperation aims to reduce household electricity costs while improving the flexibility and resilience of European power grids, CATL said. The company and Octopus Energy will also explore launching co-branded home energy solutions.

Ampace, a joint venture between ATL and CATL whose business spans energy storage systems as well as batteries for micro-vehicles and smart products, will provide cell and system manufacturing capabilities for the partnership.

The signing extends the European cooperation between CATL and Octopus Energy this year. On June 22, the 2 companies announced plans to establish a 50-50 joint venture to introduce Qiji Energy's battery-swapping technology into the European heavy-duty truck market.

According to the plan disclosed by the 2 sides at the time, the first batch of demonstration battery-swapping stations is expected to be put into operation in the UK in 2027, prioritizing coverage of main highway trunk lines and core logistics ports.