Hyperstrong lists on Shanghai Stock Exchange with US$1.56 billion market cap

HyperStrong was founded in 2011 and provides battery energy storage systems (BESS) with integrated hardware and AI-driven software for utility-scale and commercial and industrial (C&I) market segments.

Ranked as China’s top supplier by volume over three consecutive years from 2020-2022, HyperStrong was also ranked in the top five globally for 2023 on system integrator leaderboards by both Wood Mackenzie and S&P Global. That is thanks to its deployments in China, the world’s largest BESS market with well over 70GW online as reported here last week.

The company said funds raised from the IPO will be allocated to energy storage system production, R&D initiatives, digital laboratories and global marketing and operations and maintenance (O&M) network expansion.

To date it has delivered around 20GWh – 25GWh of systems worldwide, including about 10GWh of deployments in China in 2023.

Its flagship product is HyperBlock III, a liquid-cooled lithium iron phosphate (LFP) cell chemistry 20-foot containerised BESS solution with 5MWh storage capacity available in both AC and DC configurations, while other products include electric vehicle (EV) charging solutions with integrated battery storage and grid-forming power conversion systems (PCS). 

In comments on Monday, co-founder and CEO Dr. Jianhui Zhang said that HyperStrong “has witnessed and contributed to the rapid evolution of China’s energy storage industry,” and that the STAR Market listing “represents a significant milestone and a new opportunity for us.”

Indeed, HyperStrong has recently focused attention on growing its market share in overseas markets including North America, where it launched local offices in California last Spring after groundwork to form various partnerships. The integrator also has offices in Germany and Australia as well as Singapore to manage its business outside China.    

CEO Zhang told Energy-Storage.news last September at the RE+ industry event in California that HyperStrong’s US entry had been delayed by the COVID19 pandemic’s impacts.

The integrator has since then also opened offices and service centres in Houston, Texas. The CEO said that it would mitigate its relatively late entry into the market by differentiating against competitors through prioritising local service networks and faster delivery times.

Zhang said also that HyperStrong tailors its solutions to meet the specific needs of each regional market.

“Not necessarily only the US market, but [also in] the UK market, the Middle East market: different areas have different needs, and also the because of the difference between the grid infrastructures,” Zhang said.

“in each area, we basically customise our design, not to only deliver the standard product, but to work with our customers, see how we can meet their needs. Also our strategy also involves a very flexible approach to product integration; we work closely with local partners to customise our energy storage solutions.”

“For example, we work with local software suppliers and energy management system (EMS) suppliers. We work with some local or global power electronics suppliers. Although we have our own technology, we can accommodate some local partners.”

Zhang also said at that time that the company was working on collaborations with developers or other technology providers that would lead to “particular specific projects in the range of multiple gigawatt-hours that we are going to launch,” some during 2025 and others over the next three years.