Reducing waste and revolutionizing the energy storage industry could happen due to a Norwegian entrepreneur’s battery technology.
A Norwegian entrepreneur was behind one of the top energy stories in Forbes last year. The Philip Morris plant in Concord, North Carolina, used to manufacture a billion cigarettes a year. But Americans are smoking less, and the tobacco giant shuttered the factory’s doors years ago and announced plans to sell the 2,100-acre, 3.5 million square foot facility. In a sure sign that the U.S. economy is changing for the better, the empty space is not being turned in an outlet mall or water park but into a giant manufacturing site for utility-scale batteries that will store wind and solar electricity. Within three years they will create 2,500 high-paying jobs.
After a decade in secrecy, Jostein Eikeland, entrepreneur and CEO of Alevo, has launched a battery that he claims will last longer and cost less than current options. Jostein is a serial entrepreneur. He was an early internet entrepreneur who went public with his startup company on the Oslo Stock Exchange during the dot coms. He could be considered one of the earliest promoters of cloud computing. Later he invested in software and IT startups, as well as magnesium die casting and other high-tech manufacturing, and now batteries.
Jostein started the Swiss-based Alevo group of companies in 2009. Through its nine subsidiaries, the group has established operations in the Americas, Europe, and Asia. Alevo is building a vertically integrated manufacturing and development organization, creating a global energy storage business to work with the world’s largest energy companies. They will also provide mobile energy storage solutions for truck and bus fleets as well as the marine and offshore markets.
We are at a transformational moment in the energy sector. As more of the industry begins to understand the value of storage, we are seeing the launch of more initiatives that will be able to tap into the unrealized potential of energy storage. Alevo continues to forge ahead into the energy storage market, setting the […]
Alevo’s plans to add additional production lines and equipment at its battery manufacturing facility in Concord will create just over 200 jobs and invest $251.5 million into the local economy.
Sergey Buchin will be joining Alevo as the Chief Operating Officer. Sergey’s experience prior to Alevo includes key leadership roles in manufacturing, investing, and consulting at companies such as Intercomp, InvesTEK, Arbat Consulting, and BSK. He has a Bachelor’s degree in law from Saint Petersburg University, and has studied at and received degrees from Russian […]