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Strong Collaboration | Wuchan Huanneng and Yuneng Magic Cube Sign Agreement for Groundbreaking Energy Storage Project
Published:2023-08-11
On the morning of August 11, Zhejiang Wuchan Environmental Energy Co., Ltd. and Suzhou Yunneng Magic Cube Energy Technology Co., Ltd. signed a cooperation agreement with the Management Committee of the Xuchang City Demonstration Zone regarding the implementation and construction of their joint venture project: the "Complete Set of Energy Storage Equipment Manufacturing Project." Attendees at the signing ceremony included Zhang Qingyi, Executive Deputy Mayor of Xuchang City, and Sun Yi, Secretary of the Party Working Committee of the Xuchang City Demonstration Zone, among other leaders.
The joint venture plans to invest in and build an intelligent PACK production line for energy storage batteries, as well as a complete set of equipment production lines, in Xuchang. In the first phase, the project will involve constructing one intelligent PACK production line, one distributed energy storage cabinet production line, and one centralized energy storage cabinet production line, with a planned construction area of 10,000 square meters and a targeted production capacity of 2 GWh. Over the next 3 to 5 years, the joint venture aims to grow into a cutting-edge energy technology enterprise valued at over 10 billion yuan in the fields of energy storage and smart grids.
Wuchan Huanneng is the specialized company under Wuchan Zhongda Group (a Fortune Global 500 company) in the energy sector, primarily focusing on comprehensive coal utilization, environmental protection technology R&D, and new-energy products. As a large-scale, state-owned listed company integrating "energy trading + energy industry," Wuchan Huanneng boasts well-developed domestic and international marketing networks and a robust team in the energy trading arena, while also actively advancing strategic deployments in the burgeoning new-energy field.
The Yuneng Magic Cube team boasts a strong background in the power systems industry, with advanced technological R&D capabilities, product innovation prowess, expertise in standard-setting, and extensive system integration experience in the energy storage and smart grid sectors. To date, Yuneng Magic Cube has filed 28 patent and software copyright applications, contributed to the drafting of 3 group standards, and developed 5 cutting-edge products—namely the Distributed Power Storage Cabinet (DPS), Energy Storage Converter (PCS), Distributed Energy Storage Monitoring & Energy Management Platform (EMS), High-Speed Control System for Energy Storage Plants (HCS), and Energy Storage Plant Fault Recording System (EDR)—all of which have successfully completed certification processes. As a result, the company now holds a leading position among early-stage enterprises in China’s domestic industry.
Leveraging strategic development and taking the establishment of the joint venture as an opportunity, Yunneng Magic Cube and Wuchan Huanneng will fully capitalize on their complementary strengths in resources, platforms, technology, and markets. By tapping into Xuchang City's robust industrial cluster advantages in energy storage and smart grid sectors, the two companies will further expand their business presence in the integrated energy storage equipment field, fostering mutual growth and win-win collaboration!
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