China-based lithium-ion battery manufacturer Hithium has agreed to supply 1GWh of products to US energy storage project developer Perfect Power through a memorandum of understanding (MOU).
Huawei and BYD were among the five largest battery energy storage system (BESS) integrators globally last year, with the Chinese market going through a ‘price war’ of competition, according to research from Wood Mackenzie.
Substantial growth in China’s domestic energy storage market has led to locally-based players Sungrow and Hyperstrong becoming top five system integrators globally, S&P Global Commodity Insights said.
Energy Vault has secured a US licensing deal for its gravity energy storage technology and awards covering its other technologies there and in Southeast Asia, it said in its Q2 results.
Norwegian ‘smart battery’ firm Hagal and China-based lithium-ion battery manufacturer Cospowers Technology have partnered to offer an energy storage solution.