Great Power, Ariel Gree Partner To Deliver Tech Performance Insurance By CIOTechOutlook Team

Great Power, Ariel Gree Partner To Deliver Tech Performance Insurance

CIOTechOutlook Team | Tuesday, 03 October 2023, 06:13 IST

Great Power, a worldwide battery producer that has been in business since 2001, has signed a letter of intent with Ariel Green to provide technological performance insurance for its battery cells. Ariel Green will establish a coverage solution for Great Power's battery cells and systems through Lloyd's of London Syndicate 1910 under the arrangement, which will backup the company's warranty. Great Power will give technical and strategic knowledge to assist Ariel Green in developing different insurance structures for the company's lithium-ion battery solutions as part of the collaborative process.

“As a leader in the battery manufacturing industry, we’re constantly looking to innovate and introduce new programs that demonstrate our commitment to quality and increase customer confidence. We look forward to developing and implementing this comprehensive insurance coverage, backed by Ariel Green,” said Yang Xia, head of Great Power global ESS. “This offering will de-risk our products, ensuring our customers feel confident in their choice to use Great Power battery systems both from a technology and bankability standpoint.”

“Ariel Green brings deep expertise in battery technology required to cover the complexities and potential losses associated with battery warranties and performance guarantees, especially as projects grow in size,” said Jamie Daggett, Energy Storage Lead at Ariel Green. “Great Power’s battery cells have been extensively evaluated and are being thoroughly validated. We’re pleased to welcome the organization as the first lithium-ion battery cell manufacturer among our portfolio of companies and we look forward to working with the team to enable Great Power to expand the deployment of its solutions on a global scale.”

This policy, available on orders starting this year, further solidifies Great Power’s commitment to highly reliable products and services and supports the company’s global growth, customer trust, and superior service, as per Great Power.