STOCK CODE: 839424

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Pioneer in China’s energy storage industry

Anhui Dajiang New Energy Co., Ltd. is a new energy enterprise with a total investment of more than 200 million yuan in Fengtai County, Huainan City, Anhui Province, which mainly produces large-scale lithium-ion battery energy storage systems (see the following photos of the park).

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Shenzhen Volt Energy Co., Ltd.

Anhui Dajiang New Energy Co., Ltd. Its predecessor is Shenzhen Volte Energy Co., Ltd., the new three board stock code: 839424, was established in 1996, the company since its inception based on electrochemical energy storage technology research and application. For many years, it has been one of the Chinese companies with the largest export of energy storage systems to Europe, the United States, Japan and South Korea. So far, the company has built more than 50 energy storage power stations of more than 50 MW worldwide, including 10 energy storage power stations of more than 100 MW, and all energy storage power stations are in normal operation. The company has nearly 100 domestic and foreign technology patents, which cover from battery combination Pack, battery safety management, power station operation and maintenance, power dispatch control and optimization, power station site selection and environmental climate monitoring.

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First, the current business coverage of the company

At present, the company's business coverage is relatively wide, mainly including power generation side, grid side, user side to data center power system (see figure below) Since 2019, due to the significant increase in solar and wind power generation, the proportion of supporting energy storage business has also increased accordingly, and currently electric energy storage accounts for more than half of the company's total business.

Second, the current company's R & D investment

Since 2019, the annual investment in research and development is not less than 6% of the company's revenue, and the investment in major technical research projects and future technology reserves is not included in the research and development budget. The company's autonomous battery BMS and cell balancing technology and safety monitoring continue to make great progress. By the end of 2021, the company has invested more than 100 million yuan in innovation and research and development. See the figure below, our technical advantages are reflected in the following six aspects:

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Third, the company's current position in the domestic energy storage market

According to the survey, by the end of 2021, the cumulative installed capacity of energy storage projects in operation worldwide will be 500GW, an increase of 12% year-on-year; The cumulative installed capacity of energy storage projects in China is 32.3GW, accounting for 18% of the world. It is estimated that by the end of 2022, the cumulative installed capacity of China's energy storage market will reach 145.2GW, and on this basis, the energy storage market will expand by 3 times by 2024. In 2019, China's electrochemical energy storage technology has made important progress, with a cumulative installed capacity of 1592.7MW (Figure 1), accounting for 4.9% of the total energy storage scale in the country, an increase of 1.5% year-on-year. From the perspective of geographical distribution, it is mainly concentrated in new energy enrichment areas and load center areas; From the perspective of application distribution, the user-side energy storage capacity installation accounted for the largest proportion, accounting for 51%, followed by power supply side auxiliary services (accounting for 24%), and grid side (accounting for 22%) )。 Due to the large distance span between China's energy center and power load center, the power system has always followed the development direction of large power grids and large units, and operated in accordance with the centralized transmission and distribution mode. With the rapid development of renewable energy and the acceleration of the construction of UHV power grids, the society's requirements for power quality continue to increase, and the application prospects of energy storage technology are very broad. In the application scenarios of power supply side, power grid side, user side and microgrid, the functions of energy storage and its role on the power system are different.

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Fourth, the company is currently a global energy storage partner

Dajiang New Energy co., Ltd. has participated in the construction or general contracting of energy storage power plants around the world through cooperation with the world's top energy storage integrators (see figure below), and is expected to export energy storage systems of 200 million yuan in 2022.

The picture shows the company's 100MW/200MWH solar energy storage power station in Arizona, USA, providing power protection for 5,000 residents

Fifth, concluding remarks

Large-scale energy storage is a national strategy and is highly valued by various ministries and commissions of the state. Policies on energy storage at the national level have been frequently issued, and more than 20 policies have been promulgated by the five ministries and commissions in the past three years, and the total number of supporting policies issued by governments at all levels has reached 50 In the remaining items, the strategic position of energy storage has been raised to an unprecedented height. EEnergy storage technology is improving day by day, in the power supply side, power grid side, load side have played an important role, a large number of demonstration projects to practice its feasibility and effectiveness, especially the promotion of the new business model of shared energy storage, for new energy power plants to provide the storage and release of curtailment of photovoltaic energy, can effectively alleviate the power consumption difficulties during the peak hours of clean energy, while making full use of the existing resources of the grid. Many countries have taken energy storage technology as an important means to support smart grids and new energy power generation, and have carried out a large number of energy storage demonstration projects, effectively promoting the development of the energy storage industry. UUnder the guidance of the national clean energy strategy, with the decline of energy storage costs, continuous innovation of technology, and gradual enrichment of business models, the energy storage industry will develop rapidly. Considering the development prospects of the energy storage industry, there are the following suggestions for the key directions of energy storage technology: 1) The breakthrough of new material technology is the key to the progress of energy storage technology. With the continuous innovation and development of material technology, energy storage technology is expected to make important breakthroughs in improving energy density, prolonging service life and reducing costs. 2) Energy storage technology will still present a pattern of a hundred flowers, according to the needs of different industries, different fields, choose the appropriate energy storage technology application, with low cost, long life, high safety, easy to recycle as the main goal. 3) The top-level design of energy storage projects is particularly critical, and it is necessary to systematically study key issues such as battery selection, capacity planning and configuration, system integration, and operation regulation to ensure the efficient operation of energy storage power stations. 4) With the wide application of energy storage technology, attention should be paid to the construction of various types of energy storage technology standard systems, and effective specifications should guide the rational application of energy storage technology. 5) From the national level, all implementation levels should actively explore the formulation of electricity market trading mechanisms and energy storage technology development incentive policies suitable for China, and promote the development of new energy storage technologies。

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Post time: Jul-05-2022