ZARAGOZA, Spain, Aug. 9, 2023 -- Shanghai Electric Energy Storage Technology Co., Ltd. ("Shanghai Electric Energy Storage" or "the Company") announced the completion of the factory acceptance test for its vanadium redox flow battery (VRFB) equipment, which is now en route to Zaragoza, Spain, for a commercial energy storage project, marking the first time that Shanghai Electric delivers its flow battery products to a European partner in bulk.

Under the agreement with local partner in Spain, which is the sixth sub-contract that Shanghai Electric signed with the Spain-based energy storage solution provider, Shanghai Electric Energy Storage will supply bespoke VRFB products for the local renewable projects. The cooperation of the pair showcases the market adaptability of Shanghai Electric's flow battery solutions as well as its ability to deliver products tail-made to help European countries accelerate toward energy transition.

Meanwhile, Shanghai Electric and local partners are also in discussion on the design of multiple system projects, which encompass the supply of standard containerized systems and products. The two companies are also planning to cooperate on the construction of MW-scale projects.

Energy storage technology is one of the foundations for the renewable energy revolution, playing a key role in facilitating the world's achievement of low-carbon targets. Shanghai Electric, with its long-term track record in new energy technology development, is a pioneer that pushes the boundary of battery solutions, spearheading innovation for VRFB products to boost the reliability, sustainability, and affordability of renewable power sources.

In 2023, Shanghai Electric made a significant breakthrough in the field of battery storage technology with the launch of the 500kW/3000kWh energy storage system, a new solution that represents a major milestone in the development of vanadium redox flow battery (VRFB) technology. By upgrading the form factor, functionality, and performance of VRFBs, Shanghai Electric has opened up new possibilities for renewable energy storage, empowering China and beyond to reduce dependence on fossil fuels and contributing to a cleaner, more sustainable future.

The system employs a 65 kW high-power, high-performance stack, which is the largest single stack developed by China's homegrown energy company. The 500 kW battery features 4s2p configurations, making it the largest single module among long-duration flow batteries in China. The system's DC-side efficiency exceeds 85%, with the overall energy efficiency reaching 90%, trimming the cost of electricity per kWh down to RMB 0.2 (USD 0.028).

With its electrolyte consisting of water and inorganic salts, the system is capable of operating at normal temperature and pressure without the risk of flammable or explosive hazards, offering 20,000 charge and discharge cycles with no capacity attenuation in its lifespan.

It is designed as a high-power, long-duration energy storage system for wind energy and solar PV projects, with its expandable structure helping save 50% of land usage. The module is easily transportable, quick to install and deploy, and suitable for locations with a temperature range of -30 to 60 degrees Celsius and harsh environmental conditions.

Equipped with state-of-the-art battery management technology powered by digital twin visualization and operation technology, the system's operational status is accurately monitored and optimized by intelligent algorithms that maximize battery protection, achieving smart O&M and ensuring the long-term reliability of the product.

Shanghai Electric's ground-breaking innovation in VRFB has allowed the group to clinch the China Energy Storage Industry Technology Innovation Brand Award and the China Energy Storage Battery Brand Award in 2023. The dual recognition highlights the group's technological leadership in energy storage and its ability to develop cutting-edge VRFB products that address the future needs of the new energy sector.

2023 has also seen Shanghai Electric and China Vanadium Energy Storage Technology jointly commence the construction of a 100 MW/600 MWh VRFB energy storage station in Baicheng, Jilin Province. Shanghai Electric Energy Storage is set to provide green, economical, and efficient VRFB products and integrated solutions, helping to decarbonize the local economy while bolstering the development of Jinlin's new energy industry.

As Shanghai Electric Energy Storage continues to innovate on battery technology and expand its global market presence, the Company remains focused on providing its customers with reliable and sustainable energy solutions. In line with this commitment, the Company will ramp up investment in R&D to further advance the development of energy storage technologies, improve the safety and environmental sustainability of its products and services, and seek innovation to empower the world to reduce its carbon footprint and promote a greener future for all.

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