The Group acquired 30% equity interests in Powin Energy in August 2014, a company specifically engaging in energy storage battery management technology, in a consideration of US$25.0 million (approximately RMB153.8 million).
Powin Energy is a company incorporated in the State of Oregon, the United States of America. It specializes in research and application of energy storage technology for scalable grid-level and commercial energy storage systems, electric vehicle charging stations and transportation.
Powin Energy owns several patented and patent-pending advanced technologies in areas such as energy storage, load shifting and fast charging.
The energy storage technology of Powin Energy is an advanced Lithium-ion battery energy storage technology. The charging and dis-charging ratios are over 80%. This energy storage technology is expected to be applied in energy storage and management of large scale data centres, large scale power plants, and micro-grids, etc. In future, this energy storage technology will generate high economic value and profit growth to the Group.
Load Shifting Technology
The load shifting technology of Powin Energy is an application which utilises advanced energy storage technology and advanced power management system, and specializes in tuning power generators to achieve the purposes of load shifting, stabilizing power supply and minimizing the risk of overloading to the grid. In future, it is expected that this load shifting technology will be of extensive use and will have large market and high commercial value.
Fast Charging Devices
Powin Energy provides high speed, high efficiency and cost effective fast charging devices, with high speed charging of less than 10 minutes and does not require the installation of 3-phase power supplies. It is expected that this fast charging technology can be extensively used in households, car parks, and for the charging of electric vehicles, etc.