ViZn Energy Systems Announces Strategic Alliance with WeView Energy to Enter China
Jan 09, 2019, 08:00 ET
COLUMBIA FALLS, Mont., Jan. 9, 2018 /PRNewswire/ -- ViZn Energy Systems, Inc. ("ViZn") announced today that the company entered into a strategic alliance with WeView Energy that includes a minority equity investment, a China licensing agreement, and a mutual commitment to exclusively pursue the China utility scale storage market with ViZn technology.
WeView Energy Systems is a four-way joint venture between Hasen Electric, Shanghai Lingxin (controlled by Jingyi Electrical), Intelion and Jiangxi Lelai. WeView is a strategic partner with PowerChina's wholly owned subsidiary Jiangxi Electric Power Construction Corporation (PowerChina JEPCC). PowerChina is a state-owned enterprise with 2017 revenues exceeding $53 billion. Together, the local partners bring together engineering, manufacturing, service and construction capabilities for the growing China market.
"We have been looking for game-changing technology like ViZn's for a long time. Every year, PowerChina builds gigawatts of renewable energy projects, all of which require a reliable, 20-year, energy storage solution," said WeView President, Ms. Ge Yuhua. "PowerChina JEPCC's design institute has been working with the ViZn and WeView teams to prepare for the China sited demonstration projects in China."
The partners behind WeView bring deep reach into their national market. Hasen Electric and Jingyi Electrical are each leading manufacturers of utility scale power conversion equipment and switchgear. Intelion specializes in development of state-of-the-art green technologies and renewable projects globally. PowerChina JEPCC is an integral part of PowerChina, the Fortune 200 company, which has executed over 1100 major infrastructure projects in 110 countries and is ranked #6 by ENR in terms of global international contractors.
"The ViZn product is uniquely suited to support the integration of the thousands of gigawatts of new wind and solar power to be installed globally over the coming decades," said ViZn CEO John Lowell. "ViZn went looking for a strong set of partners to access one of the largest potential markets in the world for grid scale storage. This agreement comes at an ideal time as we have made great technical strides with our product in 2018."
ViZn Energy's flow batteries experience zero capacity fade over 20 years and are warranted for up to two cycles per day, giving them significantly more usable output than competitive batteries. The zinc-iron chemistry uses globally abundant materials and is non-flammable, non-toxic, and 100% recyclable at the end of its life.
About ViZn Energy Systems, Inc.
ViZn Energy Systems, Inc. is an energy storage leader that is deploying a highly versatile zinc-redox flow battery solution for utility, commercial and industrial, and microgrid applications worldwide. Founded in 2009, the company has commercialized an energy storage solution that can perform a broad array of power and energy services for 20 years while providing superior return on investment (ROI). The ViZn solution is safe, reliable, cost effective, and scalable to meet the needs of today's ever-changing energy landscape. For more information, visit: www.ViZnEnergy.com
About WeView Energy Storage Technology Co.,
WeView Energy Storage Technology is company incorporated under the laws of the People's Republic of China in Jiangsu Province. The company is focused on the turn-key deployment of stationary energy storage solutions for industrial and utility scale applications. WeView offers complete system engineering, procurement, construction and long term service for grid scale storage. WeView is currently preparing for setting up a GW-scale manufacturing base in China for ViZn's energy storage technology.
SOURCE ViZn Energy Systems, Inc.