CCT Energy Storage has signed a reciprocal manufacturing agreement with MIBA Group in Europe to develop and manufacture renewable energy solutions for the Australian and European markets.

The company behind the world’s first working thermal battery, CCT Energy Storage will assemble and deliver MIBA Group’s new Phoenix Solar Tracker to the Asia Pacific region.

In turn, MIBA Group will exclusively manufacture and distribute CCT’s Thermal Energy Device (TED) to Denmark, Sweden and the Netherlands. Further countries are currently being negotiated.

CCT Energy Storage Chief Executive Serge Bondarenko said both products had the ability to change the global solar and energy storage landscapes.

“We’re extremely proud to be working with a renewable energy market partner like MIBA Group to provide solutions locally and overseas,” Mr Bondarenko said.

“TED will be a game changer in the renewables space with the ability to significantly reduce power costs while providing versatile and long-lasting energy with little to no environmental effect.

“Like TED, MIBA Group’s product will provide an alternative to conventional solar cells and also be economically and environmentally advantageous.”

TED, which is set to launch locally in March, has multiple applications from powering remote communities and commercial businesses to telecommunications networks and transport systems.

Manufactured in Lonsdale, it will become an affordable and environmentally friendly alternative energy source.

Mr Bondarenko said the partnership would promote manufacturing excellence between the two countries and stimulate further world-class innovation in the energy space.

“MIBA Group is already an innovator within the energy and renewable sector within Europe and the US and has similar aspirations to increase affordability within the industry,” Mr Bondarenko said.

“Our ultimate goal is to transform lives by providing affordable power to those who need it most and this partnership will help us achieve that.”

Manufacturing of both products is expected to begin in Q2 2019.