May 15th, 2019

Innolith, a leading Swiss energy technology company, has begun expansion into new markets with the appointment of senior executives in China and the United States. The company’s expansion in these countries will be led by Stephen Wiley as US Vice President and Carrie Lin as Innolith’s new Chief Representative for China.   Wiley and Lin will help build a customer service organisation as well as the formation of partnerships with systems integration companies and regional licensees. 

Both the United States and China offer business opportunities for Innolith in the near and long-term future. The United States is currently the largest market for battery technology, with demand set to be worth $17.7 billion next year (Freedonia). China, meanwhile, represents the fastest growing market for batteries, with the market set to register a CAGR growth of 50.8% between now and 2022 (Smart Energy). 

Market growth in both countries is forecast to be driven by demand for batteries in the electric vehicle, renewable energy storage and grid regulation sectors. Innolith’s batteries will address these sectors and use an inorganic electrolyte that ensures a safer battery that is fundamentally non-flammable in contrast to the current standard of organic lithium-ion The fist Innolith batteries are also highly durable with over 50,000 charge/discharge cycle and so delivers the low cost-per-cycle which makes them ideally suited for grid stabilisation applications.

“The need for a durable, safe and updated battery system has never been greater,” said Innolith CEO Sergey Buchin.  “Both the United States and China are positioned to be global leaders in the adoption of battery technology and Innolith is establishing its presence in these markets to bring our new battery technologies to customers there.”

A senior executive has been appointed in both countries to lead expansion; Stephen Wiley, former Senior Director for Origination at battery company Younicos, will leads expansion in the United States as Innolith’s new Vice President for US Business Development. Carrie Lin, former National Executive for General Electric’s Grid Solution, will lead expansion in China, becoming Innolith’s new Chief Representative for China.