TCC Completes Italy-based NHOA Acquisition and Enters Global Energy Storage and Charging Infrastructure Market with Stellantis

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• USA - English

TAIPEI, July 21, 2021 /PRNewswire/ -- Taiwan Cement Corp. (TCC Group) announced its subsidiary, Taiwan Cement Europe Holdings BV (TCEH), has finalized the acquisition of 60.48% share of Italy-based energy storage company ENGIE EPS SA on July 20, 2021 at a price of EUR17.10 per share and a total investment of EUR132 million. The new company name, New HOrizons Ahead (NHOA), has also came into effect. According to Bloomberg New Energy Finance (BNEF), after the acquisition of NHOA, NHOA TCC will be in fourth place in the global energy storage power output, and become a major supplier of high-end electric vehicle (EV) charging infrastructure. TCC Chairman Nelson Chang values the acquisition and has led a team of top management to Italy for the official closing of the transaction and to convene the first board meeting. Through this acquisition, TCC Group will be the only group in Taiwan to have in-house R&D, manufacturing and managing capabilities of green energy, battery cell, energy storage, and EV fast charge infrastructure. Furthermore, NHOA has a joint venture with the world's fourth largest automaker, Stellantis (i.e. Free2Move eSolutions) and has been actively expanding the deployment of Southern Europe's largest EV fast charging infrastructure that includes bi-directional vehicle-to-grid (V2G) technology. Through such energy storage technology, Free2Move eSolutions has been building the largest virtual power plant in Southern Europe.

According to BNEF data, the global energy storage market value will grow from US$180 million in 2020 to US$160 billion in 2030. Also, the global charging infrastructure market value will grow from US$490 million in 2020 to US$212 billion in 2030. "To enter the global market, we have to work with global talents. Our energy business cannot focus on Taiwan only, we have to become globally competitive," said TCC Chairman Nelson Chang. Europe has been the world's pioneer in developing green energy and energy storage and TCC Group's new partner, NHΩA, has advanced and innovative R&D and in-house technologies. NHOA is an Italy-based France-listed energy storage company with world-leading battery energy storage system (BESS) technologies and advanced EV fast charging infrastructure and smart grid technologies. NHOA has a comprehensive production line and owns 130 patents relating to hydrogen with projects across Europe, America, Oceania and Africa. Around the world, NHOA has completed 300MWh of energy storage installations with 600MWh under construction. In addition, NHOA has competitive strengths in combining its artificial intelligence (AI) energy management system and real-time cloud monitoring platform.

After the acquisition of NHOA, TCC Group will become the only provider in Taiwan with capabilities to construct, install and operate long-lasting large-size energy storage systems and can provide the best energy solution for Taiwan's "Big Electricity Users". NHOA TCC, a subsidiary of TCC Group, has been conducting equipment and operating site planning based on demands from large-size technology and traditional industry companies in Taiwan. This means TCC Group can play a key role in stabilizing electricity sources for Taiwan's "Big Electricity Users" by providing solutions in storing energy during non-peak hours or storing extra electricity generated from green energy as back-up power.

The new company name of TCC Group's new partner, NHOA (New HOrizons Ahead), takes its inspiration from Noah, the creator of Noah's Ark and the founder of a renewed humanity. The underline in the new logo represents a new horizon. The "O" in NHOA also represents the Greek letter O (omega) and inspires the shape of a rising sun, moreover, omega is also the symbol of ohm, the SI derived unit of electrical resistance. Facing the new green energy horizon, NHOA symbolizes a brand new start and mission, together with TCC, to bring clean energy and sustainable solutions for the world's transportation. TCC Chairman Nelson Chang welcomes the new partner and declares "Together we will make a difference to the world and Earth!"

NOAH.TCC official website: http://nhoatw.energy/en/

Taiwan Cement Corp.: https://www.taiwancement.com/en/index.html

SOURCE Taiwan Cement Corp.

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