Romeo Power, an energy storage technology company founded by top engineers and designers from SpaceX, Tesla, Samsung and Amazon, has introduced THUNDER PACK – C, claimed to be the first lithium-ion (Li-ion) battery pack designed to be adapted for any electric forklift make or model. The THUNDER PACK – C is safer, non-toxic and said to be far more energy efficient with significantly longer cycle life than lead acid batteries that still dominate the global forklift market, now forecasted to reach $55.9 billion in 2021.
Romeo Power THUNDER PACKs are warranty-backed to last 4,000 cycles (approximately 12 years), deliver quick recharge, require no maintenance, and produce zero emissions and zero odours. In contrast, traditional lead-acid forklift battery packs have much shorter cycle life, long recharge and cool-down periods, need constant maintenance, run out of energy in as few as six hours, and emit hydrogen sulphide gas and sulfuric acid that smells bad, is messy, and hurts the environment.
“In our experience, forklift buyers want three things: more safety, longer drive time, and less downtime,” said Michael Patterson, Romeo Power founder and CEO.
All Romeo Power battery packs are engineered to exceed the most stringent government safety requirements and include an advanced battery management system based on control-oriented, physio-chemical models. Combined with the company’s innovations in thermal engineering, manufacturing processes and the materials chosen to connect components, Romeo Power battery packs have smaller space requirements than other battery packs on the market and are said to offer enhanced state-of-charge (SOC) and state-of-health (SOH) monitoring.
Batteries are big business
The global forklift market, valued at $35.3 billion in 2014, is projected to expand at a compound annual growth rate of 6.9 percent and now forecast to reach $55.9 billion by the end of 2021, according to a February report by Persistence Market Research (PMR).
In 2014, 55 per cent of global forklift sales were electric models. In 2015, 60 per cent were electric. In North America, electric forklifts now represent nearly 64 per cent of sales.