Shanghai Electric, PG Technologies seal deal on battery energy storage system
Shanghai Electric Guoxuan New Energy Technology Co., Ltd (“SEG” or “the Company”) and Pacific Green Technologies, Inc. (“Pacific Green” or “PGTK”) have signed a memorandum of understanding on the strategic manufacturing of battery energy storage systems. The Framework Agreement will see SEG combining its long track-record of lithium-ion battery production with PGTK’s reputable experience and industry-knowledge to explore and deliver new energy storage system projects.
According to the deal, Business Hilights Nigeria gathered that whereas Pacific Green will oversee project implementation through its subsidiary Pacific Green Energy Storage Technology Co., Ltd.
Drawing on its experience in the procurement and development of international energy storage projects, its scope includes system design, integration, and commercial optimization. Meanwhile, SEG, a joint venture established in December 2017 between Shanghai Electric (SEHK: 02727, SSE: 601727) and Gotion High-Tech (SZSE: 002074), will leverage its expertise as a leading supplier to provide lithium battery systems.
SEG focuses on the technology sectors of energy storage batteries and energy storage system integration. Its comprehensive business coverage includes the R&D, sales, and services of lithium battery storage systems, exploring advanced lithium battery storage materials, batteries, battery management, and full industry chain integrated systems.
The Company has developed two long-life lithium iron phosphate batteries, which leverage advanced technology to optimize the material design and production processes. In addition to withstanding overcharging, short circuits, and overheating, these batteries boast industry-leading life cycles, meeting the high safety and long-life requirements of energy storage.
In December 2018, SEG started foundation works for its Nantong lithium battery industrial base, with a planned capacity of 10GWh and a total project investment of RMB3 billion. On September 29, 2020, the Nantong base’s RMB 1.5 billion, 5GHw Phase 1 was officially completed and launched, boasting world-class production lines, intelligent production, and a factory digitization rate of 85%.
