SHANGHAI, Feb. 23, 2021 /PRNewswire/ -- Shanghai Electric Guoxuan New Energy Technology Co., Ltd ("Shanghai Electric Guoxuan" 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 two parties will leverage their respective advantages and resources to explore new energy storage system projects on an international level, paving the way for Shanghai Electric Guoxuan's entry into the global high-end energy storage market.
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, Shanghai Electric Guoxuan, 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.
Shanghai Electric Guoxuan 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, Shanghai Electric Guoxuan began laying the foundation 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%.
Other key domestic projects include:
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