YEO Technology Takes Significant Steps in Saudi Arabia and Battery Technologies
YEO Technology Energy and Industry Inc. (YEOTK) is attracting attention with the establishment of its new company in Saudi Arabia and international partnerships in energy storage systems. The company aims to expand its operations in energy and infrastructure projects in the Middle East while taking on a pioneering role in battery technologies.
YEO Saudi Contracting LLC established in Saudi Arabia
YEO Technology has successfully completed the process of establishing a company with 95% ownership in Saudi Arabia. The newly established company, named YEO Saudi Contracting LLC, will operate in the fields of energy, industry, water, and infrastructure, alongside mega projects in the region.
The new company aims to combine YEO Technology's expertise with local resources in Saudi Arabia to implement sustainable and innovative projects. YEO Saudi Contracting LLC seeks to enhance its effectiveness by providing high value-added solutions to the regional energy technology needs, planning to contribute to the transformation of the energy sector in Saudi Arabia.
Strategic partnership in battery technologies with Great Power
Reap Battery Technologies Inc., a wholly-owned subsidiary of YEO Technology, has formed a partnership with Great Power, one of the world's leading battery manufacturers and listed in the Bloomberg New Energy Finance (BNEF) Tier-1 list. Under the partnership, Reap Battery holds a 51% stake while Great Power has a 49% share.
Reap Battery, which produces battery energy storage systems with a capacity of 5 GWh at its facilities in Tuzla-Orhanlı, will serve strategic markets such as Turkey, the Middle East, Africa, Central Asia, and Europe with the “ReapG” and “Great Power” brands. Having completed the construction of the factory, Reap Battery continues its production line work inside the facility and aims to start mass production in 2025.
YEO Technology's new goals
YEO Technology plans to establish a strong presence in energy, water, and infrastructure projects in Saudi Arabia with the newly formed YEO Saudi Contracting LLC while aiming to increase its effectiveness in the international market through the Great Power partnership in battery technologies. The steps taken by the company align with its goal of providing sustainable energy solutions on both regional and global scales.