Expanding into the U.S. Market, EVE Sets its Sights on the Global Stage

LAS VEGAS, Sept. 15, 2023 /PRNewswire/ -- From September 11th to September 14th, one of the largest and most influential international exhibitions in North America and one of the most successful in the industry, RE+2023, the USA International Solar Exhibition (hereafter referred to as "RE+2023"), was held in Las Vegas, USA, on the prestigious Las Vegas Boulevard. Leading global energy storage battery supplier EVE showcased its unique technological prowess and latest achievements in the energy storage field at the event by unveiling the "Mr. Giant" 5MWh standard energy storage system, powered by the super-sized "Mr. Big" LF560K cells, demonstrating its exceptional capabilities.

The RE+2023 exhibition is a solar energy industry platform with nationwide influence in the United States, and it has become a frontier for companies from around the world to explore the North American market. Consequently, numerous international enterprises made the long journey to participate in this event.

Under the United Nations' "Net Zero Emissions" initiative, countries worldwide are accelerating the transition and upgrading of their energy systems from fossil fuels to clean energy sources, primarily wind and solar, to build a new type of power system. To mitigate the power fluctuations that occur after large-scale wind and solar installations are integrated into the grid, large-scale energy storage is urgently needed. Since 2023, the continuous decrease in material prices has opened up opportunities for profitability in the energy storage sector. Additionally, the implementation of the IRA Act in the United States has provided long-term and sustained momentum for the development of the energy storage industry in North America.

As early as the Intersolar Europe in June in Germany, EVE had already introduced the LF560K energy storage cell, which boasts the largest capacity in the industry. At this current exhibition, EVE has not only pursued "big" but also unveiled the "Mr. Giant" 5MWh standard energy storage system, featuring the next-generation "Mr. Big" LF560K cells. "Mr. Giant" employs the Mr. Big super-sized cell stacking solution, effectively balancing safety and cost-effectiveness, making energy storage systems (ESS) more convenient, safer, and economically efficient, thereby redefining the ESS concept.

CEO of EVE Energy Storage, Steven Chen stated: "We have upgraded 'Mr. Big' - LF560K, bringing a larger capacity and higher-energy energy storage cell to the industry. At the same time, we have developed the 'Mr. Giant' 5MWh standard energy storage system, which is more convenient, safer, and more economical. Our aim is to explore an intelligent energy storage integrated system that combines safety and cost-effectiveness effectively addressing the trends of the terawatt-hour (TWh) era and resolving the complexities in managing large-scale power plants, issues related to thermal control, and economic concerns."

It is understood that EVE's newly released "Mr. Giant" 5MWh standard energy storage system utilizes the super-sized stacked intelligent cell, "Mr. Big," ensuring high performance, system reliability, and safety. It simplifies operation and maintenance, making it more convenient to use. Additionally, it incorporates Non-Thermal Propagation (NTP) technology from the automotive industry, effectively isolating heat diffusion inside and outside the battery pack, enhancing system stability and safety. Furthermore, by adopting an extremely compact and efficient design, advanced manufacturing techniques, and optimizing cluster-level dimensions, it can increase single-box energy by 45.6% and single-cell volume energy by 12.1%. This results in a double-digit reduction in both cell and system costs, effectively meeting the high economic demands of the energy storage market.

EVE has signed a strategic agreement with Wärtsilä and TAE separately, aiming to drive global energy market decarbonization. This collaboration follows EVE's deep partnerships with international clients such as Powin, ABS, and GOODWE in the global energy storage market, demonstrating international customer support. This signifies EVE's energy storage battery products have gained recognition from numerous international partners and will become part of more robust global supply chains. In the future, the influence of EVE's energy storage battery products will continue to grow, contributing to the global "zero-carbon action."

Currently, the global energy storage industry is in a highly prosperous phase. According to the InfoLink database, the global energy storage cell shipment volume reached 91.6 GWh in the first half of 2023. During this exhibition, EVE had the special privilege of inviting one of the world's largest information technology suppliers, IHS, to deliver a keynote speech on "Outlook of the North American Power Energy Storage Market." The presentation aimed to engage colleagues and the on-site audience in a discussion about the future of the North American market and to seize industry opportunities.

According to publicly available data from InfoLink, in the first six months of 2023, EVE Lithium Energy ranked third globally in terms of energy storage cell shipments. As a leading global energy storage battery supplier, EVE has consistently pursued an international development strategy and possesses the capabilities for global manufacturing, delivery, and service. Currently, EVE has 13 production bases, 7 sales companies, and offices both domestically and internationally, allowing it to effectively meet the demands of international development. Recently, EVE has announced the establishment of manufacturing facilities in Malaysia and Hungary, expanding its global footprint. The groundbreaking ceremony for the Malaysian factory took place on August 11th, signaling that its completion is imminent. This marks the beginning of EVE's deep globalization efforts.

SOURCE EVE Energy Storage Co., Ltd.