Yongtai Energy introduces core technologies and sets up energy storage equipment company to accelera

On the evening of December 26, Yongtai Energy announced that the holding subsidiary of the company, Detai Energy Storage, signed the related energy storage technology transfer contract in cooperation with Changsha University of Science and Technology. Changsha Science and Technology transferred five patents and five patent application rights of vanadium flow battery related energy storage technology to Detai Energy storage, with a total transfer fee of 27 million yuan.

The signing of the energy storage technology transfer contract is conducive to the company's rapid development of vanadium flow batteries and system integration core independent intellectual property rights, subsequent research and development and product iteration capabilities through the cooperation between Detai Energy Storage and Changsha Technology, which has the advantages of energy storage technology research and development and advanced achievements, and the formation of core technological competitiveness with its own advantages. Accelerate the development of the company's whole industrial chain in the field of vanadium flow battery energy storage.

At the same time, the company also announced that Detai Energy Storage and Professor Jia Chuankun from Changsha University of Science and Technology plan to jointly invest and establish Zhangjiagang Detai Energy Storage Equipment Co., LTD., which is mainly engaged in the industrialization and commercialization of vanadium REDOX flow battery technology. The proposed registered capital is 50 million yuan, including: Detai Energy Storage invested 44 million yuan in the form of currency, kind, land use right and intellectual property rights, holding 88%; Professor Jia Chuankun invested 6 million yuan (12 percent) with all his patent rights. Detai Energy Storage Equipment Co., Ltd. has set up an energy storage Research Institute, and hired Professor Jia Chuankun to be the president of the institute, responsible for building a technology research and development team and updating and iteration of product technology.

The investment and establishment of the equipment company is an important step by Yongtai Energy in the layout of energy storage field, through the introduction of core technology, further implementation of the company to the energy storage industry transformation and development plan, with the implementation of the project, the company has become a vanadium flow battery energy storage field of the whole industry chain leading enterprises pace gradually accelerated.

According to the announcement, the joint venture to establish Detai Energy Storage Equipment Company will give full play to the company's advantages in energy industry resources, the development of the whole industry chain of energy storage, business collaboration, and Professor Jia Chuankun's rich industry-university-research experience in flow battery, advanced flow battery technology and other advantages, so as to realize the development of technology enabling industry and the effective integration of "technology + industry". We will spare no effort to develop and form the supporting technologies and related products of the whole vanadium flow battery industry chain with independent intellectual property rights in China, form the product R&D and technology iteration capabilities with our own advantages, accelerate the company to become a leading enterprise of the whole vanadium flow battery energy storage industry chain, further enhance the company's core competitiveness and improve the company's long-term profitability. To achieve green, low-carbon and high-quality development of the company.

With the orderly progress of the major decision making deployment of "double carbon", energy conservation, emission reduction and energy structure adjustment will be further increased, energy storage industry has a broad prospect. Yongtai Energy seized the opportunity, dug deep into the second growth curve, and actively laid out the field of energy storage. This year, the company and Hyde Stock jointly funded the establishment of Detai Energy storage Company, which mainly invests in electrochemical energy storage projects. Promote the development of the whole industry chain in the field of vanadium flow battery energy storage, such as energy storage material resource integration, purification and smelting, new energy storage materials, electrolyte processing, reactor, equipment R&D and manufacturing, and project integration, and provide a full set of energy storage solutions for new energy and traditional power systems.

In addition, at the beginning of 2022, the first step of the company's development plan was to "make substantial breakthrough in the energy storage industry within one year". Now, with the establishment of Detai Energy Storage and the implementation of related energy storage projects, this goal has been effectively implemented. In the future, the company will deeply tap the potential of the existing traditional coal power industry, ensure the stable growth and continuous improvement of the existing main industry, and at the same time, Continue to unswervingly transition to the energy storage industry development.

In August this year, Detai Energy Storage Company acquired 65% shares of Huihong Mining. Through the acquisition of Huihong Mining, it has obtained 24.9 million tons of high-quality vanadium ore resources and 241,500 tons of vanadium pentoxide resources. The annual capacity of vanadium pentoxide will be 3,000 tons, which is the extension of the company to high-quality resources in the upstream of vanadium liquid flow energy storage industry.

The establishment of the energy storage equipment company and the establishment of the Energy storage technology Research Institute with an internationally leading energy storage technology research team as the core are conducive to the rapid industrialization of the most advanced patented technology, which provides a strong guarantee for the rapid formation of commercial energy storage products in the short term, and will achieve good economic benefits. At the same time, Professor Jia Chuankun is hired as the director of energy storage Research Institute under energy storage equipment company, which will greatly improve the company's scientific research ability in energy storage equipment research and development, battery production and integration, and make Yongtai Energy complete the layout of core technologies of energy storage industry chain.

With the subsequent implementation of various projects, Yongtai Energy will complete the whole industrial chain layout in the field of vanadium flow battery energy storage. According to the announcement, the first phase production capacity of Detai Energy storage Equipment company after its establishment will reach 300MW, which has a certain scale advantage, and will accelerate the layout and development of the whole vanadium flow battery industry chain of the company, but also will further improve the company's profitability, increase the company's competitive advantage, and constantly improve the company's growth space.

In the future, Yongtai Energy will still unswervably march to the field of energy storage, on the basis of having completed the first step of "striving for a substantial breakthrough in energy storage business within 1 year", accelerate toward the goal of "forming a scale within 3 years and entering the first phalanx of energy storage industry in 5-8 years".

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