4Cs Holdings and PATH signed a grid-scale battery storage development partnership agreement on July 28, 2025. The companies will aim to jointly develop 100MW/200MWh of high and extra-high voltage facilities.
Under the agreement, 4Cs and PATH plan to jointly cover the entire development process from site acquisition and grid connection through fundraising all the way to managing engineering, procurement, and construction (EPC), and operation and maintenance (O&M). They plan to use a grid-scale BESS development support system being jointly developed by 4Cs and Circulating Resource Holdings.
In addition to developing projects together, the partners also plan to share battery storage technology, markets, and operations know-how, and explore other potential business opportunities.
PATH has already been engaged in early-stage BESS development, including identifying potential locations and applying for grid connections. The company recently obtained a real estate license to buy and sell potential sites. 4Cs Holdings has been supporting fundraising. It also acquired a pair of 2MW/8MWh projects and partnered with battery storage solutions provider HOBE ENERGY.
4Cs Holdings, originally a cosmetics company, entered solar development in mid-2024. It decided to expand into grid-scale storage in February 2025. Similarly, PATH has primarily been engaged in the beauty and wellness business, but also has limited activities in biomass. Both companies are listed on TSE Standard.
The deal joins a growing list of partnerships between companies with varying levels of experience in the energy industry seeking to capture a share of the grid-scale battery storage market. Unlike other similar tie-ups, which often focus on four-hour high-voltage projects, 4Cs and PATH’s capacity target suggests interest in also exploring shorter-duration facilities.
