Xiamen, China – September 27, 2024 – POWEROAD has signed a strategic cooperation agreement with Huayi Energy, marking a significant step toward deepening collaboration in the energy storage and renewable energy sectors. This partnership will focus on joint efforts in product and technology research and development, energy storage system integration for the domestic market, and comprehensive investment, construction, and operation services for commercial and industrial (C&I) energy storage projects.
The agreement was officially signed on September 27, 2024, in Xiamen, with Li Mingtao, President of Huayi Energy, and Hao Weifeng, President of POWEROAD, representing their respective companies. This collaboration aims to establish a full-scale strategic partnership based on resource sharing, mutual support, and win-win development. Together, POWEROAD and Huayi Energy will explore new business opportunities in the expanding C&I energy storage market.
POWEROAD, with its strong foundation in technology, products, services, and market experience, will leverage Huayi Energy’s expertise in project resources, marketing, and financing to strengthen their combined position in the energy storage and renewable energy sectors. The partnership is expected to create synergy, allowing both companies to complement each other’s strengths and foster mutual growth.
Huayi Energy, established in 2021, is focused on the C&I energy storage market, aiming to become a comprehensive green energy service provider. Its core business includes delivering integrated energy storage projects, investment development, and virtual power plant operations. Huayi Energy has already partnered with major industry players such as SUNGROW and Towngas Energy to form a platform company dedicated to developing the energy market and innovating in energy storage applications.
Through this strategic partnership, POWEROAD will provide customized energy storage solutions tailored to Huayi Energy’s needs, with plans to collaborate on at least 100MWh of C&I energy storage projects. POWEROAD will also meet the equipment and technical support demands for Huayi Energy and its ecosystem. In addition, the two companies plan to establish a C&I Energy Storage Industry Investment Fund, aimed at financing and developing domestic energy storage projects on the user side.
The signing of this strategic agreement marks a significant expansion of POWEROAD’s domestic energy storage market presence. Together, POWEROAD and Huayi Energy will accelerate the implementation of key demonstration projects, driving innovation in energy storage and contributing to China’s carbon-free goals. This partnership promises to inject new momentum into the nation’s green energy revolution.
About POWEROAD
POWEROAD Renewable Energy Technology Ltd, established in 2001, is a high-tech corporation specializing in the R&D and production of lithium-ion battery energy storage systems. The energy storage systems production from POWEROAD are modular, with high safety, high integration, and high energy density, and can be matched with a variety of world-class inverters. The company relies on the industry-leading three-level architecture battery management system and energy visualization cloud platform to use the energy storage system for solar self-consumption, peak shaving, load shifting, micro/off-grid, demand-side response, unassisted renewable new energy grid connection, home energy storage, and other applications scenes. As of 2023, the company has delivered multiple solutions in key overseas markets, including Southeast Asia, Oceania, Europe, Africa, and South America.
