ETICA Technology and Shell Form Strategic Partnership to Advance Safer and Scalable BESS Immersion Cooling Technology

ETICA Battery Inc. ("ETICA") announced today (December 10) that it has formally established a strategic partnership with Shell U.K. Limited ("Shell") to jointly develop and promote advanced immersion cooling technologies for next-generation battery energy storage systems (BESS). The two parties officially signed a Memorandum of Understanding (MoU) during the Shell Partnerships Powering Progress event, held from December 5 to 7, 2025, in Abu Dhabi in conjunction with the Formula 1 Abu Dhabi Grand Prix.

This collaboration combines ETICA's innovative capabilities in non-flammable & immersion-cooled energy storage technologies with Shell's strong R&D expertise in high-performance dielectric cooling fluids. Together, the partners aim to deliver safer, more reliable energy storage solutions, supporting the global energy transition and the large-scale deployment of advanced BESS technologies worldwide.

As global demand for electricity across power grids and critical infrastructure continues to rise rapidly, safe and resilient BESS have become a cornerstone of national infrastructure worldwide. Immersion cooling technology, which fully submerges battery cells in specialized dielectric fluids, is emerging as one of the most transformative solutions for addressing lithium-ion battery thermal management challenges and fire risks.

By utilizing Shell's high–flash-point, safety-focused insulating fluids, ETICA's immersion-cooled systems deliver more stable temperature control, optimized battery management with reduced degradation, and a significant enhancement in overall system safety. Under the partnership, ETICA will continue to adopt Shell's MIVOLT ester-based dielectric fluids as the primary cooling medium across its commercial, industrial, utility-scale, and mission-critical energy storage platforms.

Shell will provide specialized technical support and work closely with ETICA to engage with regulatory authorities, standards-setting bodies, and industry stakeholders to advance the development and standardization of immersion cooling technologies. In addition, both parties will launch industry education and advocacy initiatives to help customers, regulators, and global strategic partners gain a deeper understanding of the safety, scalability, and strong economic value of immersion-cooled BESS, thereby accelerating market adoption worldwide.

Gavin Wang, Chairman of ETICA Battery, stated: "Our partnership with Shell marks a significant step forward in advancing next-generation standards for energy storage safety and performance. By leveraging Shell's high–flash-point, biodegradable ester-based insulating fluids, we are able to help customers operate their systems with greater confidence in high-risk environments. This collaboration represents an important milestone in bringing immersion-based thermal management closer to becoming a global mainstream standard."

Jaime Hidalgo, CEO of EticaAG, added: "Shell's global leadership in lubricants and thermal management fluids enables us to more rapidly deploy safe, non-flammable energy storage technologies in key markets. This partnership not only meets the stringent safety expectations of regulators, but also aligns with the needs of large energy users for operational efficiency and reliability, reinforcing EticaAG's commitment to delivering high-performance and sustainable energy storage solutions worldwide."

The partnership further strengthens ETICA's technology deployment across key mission-critical applications, including grid dispatch, commercial and industrial energy storage, data centers, telecommunications infrastructure, and energy management for EV charging and supplement energy networks.

Jason Wong, Executive Vice President of Global Lubricants Division, Shell, commented: "Our collaboration with ETICA demonstrates how shared expertise can accelerate technological breakthroughs. By leveraging Shell's innovation capabilities, global footprint, and trusted brand, we are jointly advancing a safer and more resilient future for energy storage. Building on Shell's proven success in data center and electric vehicle thermal management, we look forward to working with ETICA to unlock the significant potential of immersion cooling in the BESS industry, helping to create lower-emission and more sustainable energy systems."

About ETICA Battery, Inc.

ETICA Battery, Inc. specializes in the development of advanced battery energy storage systems (BESS) and energy security technologies. Originating in the portable battery segment, the company has since expanded to deliver high-safety energy storage solutions across telecommunications, healthcare, industrial applications, and public infrastructure.

Centered on its proprietary LiquidShield™ immersion cooling technology, ETICA designs energy storage systems that deliver high efficiency with zero combustion risk, and has obtained multiple international certifications, including UL, ISO, and TÜV. Guided by the principles of safety, efficiency, and sustainability, ETICA is committed to advancing the global energy transition and building a more stable, cleaner, and safer energy future.