China Tianying Inc(000035) gravity energy storage and complete equipment manufacturing project is being accelerated recently. The reporter learned that recently, the special service class for major industrial projects in Jiangsu Rudong coastal economic development zone came to the construction site of China Tianying Inc(000035) gravity energy storage and complete equipment manufacturing project, held on-site meetings, coordinated and solved relevant problems, and cleared away obstacles to the completion and operation of the project in the next three quarters.
“This project aims to improve the power generation and use quality of renewable energy through energy storage technology, build a new business form of renewable energy development, work together with Rudong to build a zero carbon industry center in the Yangtze River Delta and seize the commanding height of global zero carbon industry competition.” Yan Shengjun, chairman of China Tianying Inc(000035) board of directors, said at the project commencement ceremony on March 20 that Rudong green energy industry took the lead in the rise of the country and China Tianying Inc(000035) will take long-term sustainable investment in Rudong as an important strategy to promote enterprise development, fully pool high-quality resources and create a new growth pole of new energy sector in Rudong.
It is understood that the gravity energy storage and complete equipment manufacturing project invested and built in Rudong, Jiangsu Province is authorized by the world’s advanced gravity energy storage technology developer energy vault, Inc. (hereinafter referred to as “EV”) to use the licensed technology exclusively. EV’s innovative scheme uses excess power from photovoltaic, wind power or other power generation facilities to lift large mobile modules and use gravity release to generate power when needed most. At the same time, the mobile module is mainly made of locally purchased soil, sand, coal ash, glass fiber in retired fan blades and other available waste materials, which will play a synergistic role with the current China Tianying Inc(000035) waste treatment and reuse business.
The construction scale of the gravity energy storage project is 100mwh and the power generation is 25MW. It is not only suitable for peak shaving and frequency modulation of power, but also for the storage and utilization of new energy power. The construction scale of gravity energy storage complete equipment manufacturing project is more than 20 sets of annual production capacity, with taxable sales exceeding 3 billion yuan and tax per mu exceeding 200000 yuan. With the completion and operation of the project in the future, it is undoubtedly expected to become a new engine to promote the rapid growth of China Tianying Inc(000035) performance.
It is noteworthy that with the investment of China Tianying Inc(000035) great strides in layout, its strategic blueprint of marching into the new energy industry based on traditional environmental protection and taking energy storage as the starting point is also accelerating. In addition to the gravity energy storage and complete equipment manufacturing projects invested and constructed this time, according to the new energy industry investment agreement signed between the company and Rudong County People’s government, the two sides will also conduct in-depth strategic cooperation agreements on new energy businesses such as beach photovoltaic power generation, offshore wind power, hydrogen energy and zero carbon data center in the future.
