#Japan #Tokyo #Battery Project #Espoar #Sigenergy Japan

Espoar and Sigenergy Japan Collaborate on 80MWh Battery Project

On November 13, 2023, Espoar Co., Ltd., headquartered in Shibuya, Tokyo, announced the signing of a comprehensive basic agreement with Sigenergy Japan Co., Ltd. This partnership focuses on launching an 80MWh battery project with the goal of expanding their battery-related business and creating new market opportunities.

Background of the Agreement

Espoar has prioritized the expansion of renewable energy and battery-related operations as part of its key strategy. The company aims to establish a cooperative framework with Sigenergy Japan, which specializes in energy storage systems, solar inverters, and EV chargers. The collaboration will center around utility-scale battery projects within Japan.

Contents of the Agreement

Sigenergy Japan is recognized as a leading supplier of stackable distributed energy solutions and has attained global acclaim for its first practical V2X integration solutions. To solidify the partnership, both companies have outlined the following objectives:

• - By December 31, 2026, they will collaborate to achieve a target of installing and selling at least 80MWh of battery products, equivalent to approximately 10 battery power plants.
• - Sigenergy Japan will support Espoar in locating investors and facilitating sales for at least 80MWh of battery power plant projects worth approximately 6.5 billion yen.
• - Both parties will work together to build a sales and service network for Sigenergy’s energy storage systems, solar inverters, and EV chargers domestically and internationally.
• - They will collaborate on 10 ongoing projects, including those under development by Espoar.

Overview of the Partnering Company

• - Company Name: Sigenergy Japan Co., Ltd.
• - Location: 7th Floor, 1-9-8 Irifune, Chuo, Tokyo
• - Representative: Zhang Jinlin
• - Established: September 19, 2024

Anticipated Impact of the Partnership

1. Strengthened Competitiveness and Expanded Product Line

Through the integration of advanced power electronics and AI control technologies from Sigenergy, Espoar will enhance its offering of high-efficiency and reliable battery products.

2. Accelerated Market Penetration Through Joint Sales Goals

Both companies share a clear aim of supplying over 80MWh of batteries to the market by the end of 2026. This synergy will leverage Espoar’s project development capabilities and sales channels, while Sigenergy can provide product supply and technical strengths.

3. Improved Project Viability Through Investor Introduction Support

With the investor introductions and sales assistance provided by Sigenergy, the pace of project realization for Espoar’s domestic battery power plant initiatives will increase. Expected benefits include enhanced selling power for planned and ongoing projects, expanded investor networks, quicker monetization, and scaling of project sizes, further solidifying Espoar's battery business portfolio.

4. Contribution to Stable Renewable Energy Supply and Decarbonization

Energy storage is critical for the effective utilization of renewable resources like solar and wind. This partnership aims to contribute to:

• - Peak energy shifting
• - System stabilization
• - Promotion of carbon neutrality
• - Development of localized energy infrastructure

Through these efforts, the collaboration will bring about a more sustainable energy society. Espoar continues its mission as a company that designs energy, balancing environmental and economic values.

Future Developments of the Partnership

Through this agreement, Espoar intends to play a prominent role in several battery power plant projects across the country. The company is committed to contributing to stable clean energy supply and decentralized energy infrastructure. Espoar will continue to innovate at the intersection of renewable energy, battery technology, and digital advancements, creating new value for both communities and industries.