Chennai, Oct 10 (IANS): Russia's integrated nuclear power major Rosatom has floated a new subsidiary RENERA to develop and market lithium-ion traction batteries for electric vehicles and energy storage systems, the company said.

According to Rosatom, the newly incorporated RENERA will develop and trade module type lithium-ion traction batteries for electric vehicles, as well as energy storage systems for emergency power supply, renewable energy resources and smoothing load demand.

Rosatom said the current project portfolio includes over 120 ongoing and completed projects for supply of lithium-ion energy storage devices - contracts previously concluded by a number of TVEL Fuel Company outfits - Cathode Materials, NPO Centrotech and Novosibirsk Chemical Concentrates Plant.

Module type lithium-ion traction batteries are widely in demand in the electric vehicle market and are one of the most cost-efficient and technologically advanced solutions for intralogistics.

In stationary energy storage systems, lithium-ion batteries are used due to their unique characteristics in terms of number of cycles, voltage stability and energy efficiency, the nuclear power major said.

Rosatom supplies the nuclear power plant equipment for Nuclear Power Corporation of India Ltd (NPCIL) that building four 1,000-MW atomic power plants in Kudankulam in Tamil Nadu.