Siro Energy

What Siro Energy does

Siro Energy (legal entity: Siro Silk Road Temiz Enerji Depolama Teknolojileri San. ve Tic. A.Ş.) is a Turkey-based battery technology company founded on 27 September 2021 as a joint venture between Togg, a Turkish mobility brand backed by Anadolu Group, BMC, Turkcell, Zorlu Holding, and TOBB, and Farasis Energy, a California-founded lithium-ion pouch cell developer with R&D centres in China, Germany, and the USA and 21 GWs/y of cell manufacturing capacity in China. Siro develops, manufactures, and supplies high-nickel NMC lithium-ion battery cells, modules, and packs for automotive and non-automotive applications, applying technology licensed from Farasis (pouch cell platform) combined with Togg's automotive manufacturing expertise. Core technology includes proprietary thermal management, an in-house battery management system (BMS), customised structural pack design, and pending patents on manufacturing methodologies.

The company operates three sites: the Battery Development Center (headquarters) in Gebze, Kocaeli; the Battery Technology Center at the Togg Technology Campus in Gemlik, Bursa; and the 20 GWs Battery Development and Production Campus in Gemlik, also Bursa, currently under construction (groundbreaking 24 April 2023). Serial production of modules and packs began in January 2023 and accelerated in March 2023 with the launch of the Togg T10X program. Battery cell development started in 2023, with cell production targeted for 2026. Current headcount stands at approximately 339 employees against a target of 369.

Siro serves five product verticals: E-Mobility (electric cars, buses, trucks, railway, aviation), Micro-Mobility (electric motorcycles, bicycles, scooters), Marine (electric cruise ships, ferries, yachts), Industrial (forklifts, excavators, mining, agricultural machinery), and Stationary Energy Storage Solutions (grid regulation, renewables storage). Its commercial model is B2B enterprise sales via direct OEM supply, with the flagship named customer being Togg for EV battery modules and packs. The company's regional mandate covers Turkey and approximately 120 surrounding countries, positioning it as the JV's distribution anchor for energy storage in MENA, the Middle East, and adjacent markets.

Name

Siro Energy

Legal name

Siro Silk Road Temiz Enerji Depolama Teknolojileri San. ve Tic. A.Ş.

Website

https://siro.energy

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Siro Energy is a Turkish battery technology joint venture between Togg and Farasis Energy that develops and manufactures high-nickel NMC lithium-ion battery cells, modules, and packs for automotive (primarily Togg), micro-mobility, marine, industrial, and stationary energy storage customers across Turkey and 120 regional markets.

Ownership category

akta.pro rank

Product category

Battery Manufacturing and Energy Storage

NAICS

Battery Manufacturing (335910), Electrical Equipment Manufacturing (3353)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electrical Industrial Apparatus (3620)

akta.pro primary industry

Battery Pack Manufacturing & Module Assembly (EUAFABAI)

akta.pro secondary industries

Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB), Battery Management Systems (BMS) & Pack Electronics Manufacturing (EUAFABAJ), Battery Dismantling, Discharge & Pre-processing (Safe Handling, Shredding, Black Mass Production) (EUAFACAB), Battery Packs & Energy Storage for Micromobility Manufacturing (IMACAOAE)

Keywords

• Lithium-ion battery cells
• Battery module manufacturing
• Energy storage systems
• E-mobility battery solutions
• Stationary energy storage

Headquarters

HQ city

Kocaeli

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Infrastructure, Operations, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Battery Modules and Packs: Development and serial production of battery modules and packs for automotive and non-automotive applications, began serial production in 2023.
2. Battery Cells (Planned): Development and production of battery cells planned to begin in 2026, expanding product portfolio vertically.
3. Energy Storage Solutions: Stationary energy storage solutions for electrical grid regulation, energy efficiency improvement, and renewable energy storage.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Siro Energy develops and manufactures high-nickel NMC lithium-ion battery cells, modules, and packs for automotive and non-automotive applications. The company's products are applied across e-mobility (electric cars, buses, trucks, railway, aviation), micro-mobility (e-bikes, motorcycles, scooters), marine (electric cruise ships, ferries, yachts), industrial equipment (forklifts, excavators, mining and agricultural machinery), and stationary energy storage (grid frequency regulation, renewable integration, residential). Serial production of modules and packs began in 2023, with battery cell production planned to start in 2026, targeting a 20 GWs/y capacity over time.

Product overview

Siro Energy is a battery technology company offering a unified portfolio of energy storage solutions. The core offerings include high-nickel NMC lithium-ion battery cells (with cell production starting in 2026), and battery modules and packs (serial production began in 2023). These hardware products are applied across multiple vertical product lines: E-Mobility solutions for electric vehicles (cars, buses, trucks, railway, aviation), Micro-Mobility for light electric vehicles, Marine solutions for electric ships, Industrial applications for construction equipment, and Stationary Energy Storage Solutions (ESS) for grid and renewable energy applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Battery Cells High-nickel NMC lithium-ion pouch cells with high energy density, short charging times, long cycle life under challenging conditions, and lifecycle sustainability, suitable for applications from automotive to residential use.
• Battery Modules and Packs Compact and modular battery packs with customized structural design, proprietary Battery Management System, thermal management system for cell-level heat homogeneity, and patented manufacturing methodologies, delivered in volumes from small-scale to serial production.
• E-Mobility Battery Solutions High-performance and sustainable lithium-ion battery solutions tailored for electric cars, buses, trucks, railway, and aviation applications, delivering safe operation, high energy performance, and long cycle life.
• Micro-Mobility Battery Solutions Standard and modular battery solutions for electric motorcycles, bicycles, and small scooters supporting cleaner and greener transportation with compact form factors.
• Marine Battery Solutions Safe, reliable, green, and eco-friendly battery solutions for electric cruise ships, passenger ships, ferries, and yachts supporting maritime electrification.
• Industrial Application Battery Solutions High-power and reliable battery solutions for low-carbon construction equipment including electric forklifts, excavators, lifting machines, mining vehicles, agricultural machines, and aerial work machines.
• Stationary Energy Storage Solutions (ESS) Long-life stationary energy storage solutions for regulating electrical grid loads and frequency, increasing energy efficiency, and storing energy generated from renewable sources across grid, charging station, and residential applications.

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• ToggcoreStrategic or Co-development Partner · 27 September 2021Togg, a Turkish mobility brand with intellectual property rights owned by Turkey, partnered with Farasis Energy to establish Siro on September 27, 2021. Togg provides automotive manufacturing expertise and serves as the primary customer for Siro's battery modules and packs. Siro is an integral part of Togg's mobility ecosystem, with serial production of modules/packs beginning at Togg's Technology Campus.
• Farasis EnergycoreStrategic or Co-development Partner · 27 September 2021Farasis Energy, a California-based company founded in 2002 specializing in high-performance Li-ion pouch cell technology, partnered with Togg to establish Siro. Farasis provides core battery cell technology expertise and has R&D centers in China, Germany, and USA with 21 GWs/y production capacity in China. Siro leverages Farasis's pouch cell expertise for its battery development.

Scale indicators6 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Farasis Energy: Farasis is Siro's co-parent JV partner and a direct technology/operating peer: a California-founded Li-ion pouch cell developer with 21 GWs/y of production in China serving automotive and energy storage applications — the same product/customer intersection Siro targets.

Broad incumbents

• CATL (Contemporary Amperex Technology): World's largest battery cell and pack manufacturer; supplies cells and packs to global automotive OEMs and energy storage customers, directly overlapping with Siro's automotive and stationary ESS focus at vastly greater scale.
• Samsung SDI: Established Li-ion cell and pack supplier for global automotive OEMs and ESS markets; competes with Siro for premium EV battery programs and grid-scale storage.
• BYD: Vertically integrated EV and battery manufacturer producing cells, modules, and packs across automotive and stationary storage; represents the integrated cell-to-pack benchmark Siro is moving toward.
• SK On: Major automotive battery cell and pack manufacturer with global OEM contracts; competes with Siro in EV battery sourcing and in building out Western/non-China supply.
• LG Energy Solution: Major global battery cell and pack supplier with deep automotive OEM relationships and stationary storage offerings; competes with Siro for EV pack programs and grid storage contracts.

Emerging players

• Northvolt: European battery cell and pack developer targeting automotive and ESS customers with a non-China supply story; closely comparable to Siro's positioning as a regional alternative to Asian incumbents.
• Gotion High-Tech: Chinese Li-ion cell and pack manufacturer expanding into European and global automotive and storage markets; competes with Siro on cost-competitive cell-and-pack offerings.
• EVE Energy: Chinese battery manufacturer producing cells, modules, and packs for EVs and stationary storage; comparable in scope (multi-vertical, pack + cell) to Siro's product roadmap.

Regional players

• ASPİLSAN Enerji: Turkish battery manufacturer with both portable and automotive/industrial Li-ion ambitions; the most direct regional peer within Turkey, competing for the same domestic EV and defense/industrial customers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/siroenergy
• Xx.com/energy_siro

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Siro Energy