The Group acquired 28% equity interests in Shanghai Everpower Power Technology Co., Ltd. (Everpower), a company engaging in hydrogen energy storage and hydrogen power generation with core hydrogen power technology, in a consideration of RMB48.5 million.
Due to its uniqueness, hydrogen power can replace storage battery and diesel generator in many fields and is widely used in such sectors as communication and power. The energy storage technology is complementary to solar power generation to resolve the interval generation problem of solar power and thus enhance its utilization rate.
Everpower was established in 24 June 2009 and was registered in Shanghai Zhangjiang High-tech Park with registered capital of RMB 80 million. The accumulated total investment has reached RMB 200 million.
The ultimate goal of Everpower is to become a global power technology leading company through development of highly efficient, environmentally friendly and energy saving technologies, commercialization of mature hydrogen energy power products and providing superior services.
Everpower had participated in different famous international projects, including the development of built-in/ portable and underwater hydrogen energy, and the trial operations and commercial operations of hydrogen energy based coach teams in ten cities from Chicago, California to Europe.
The first hydrogen energy for communication use developed by Everpower successfully passed the national product identification, which was the first case in China.