Taiwan Cement Corporation’s buyout of NHOA is a “reconfirmation of strategic financial support” from the majority shareholder, Energy-Storage.news has heard.   

EV and energy storage technology firm NHOA has commissioned a 120MWh BESS in Taiwan for parent company Taiwan Cement Group (TCC).

New HOrizons Ahead (NHOA) has completed work on a large-scale battery energy storage system (BESS) in Taiwan, designed specifically for a new ancillary service opportunity.

NHOA has put into operation a 107MWh BESS as part of an industrial microgrid project at a cement plant in Gaungdong province, China.

NHOA is on track to achieve a targeted 10x growth in its business, but will require funds from its parent company to complete the task.

Energy storage and electric mobility solutions provider NHOA increased revenues from energy storage tenfold year-on-year from 2021 to 2022.

E-mobility and energy storage solutions firm New HOrizons Ahead (NHOA) grew its energy storage revenues 2,752% in the third quarter of the year.

KULR Technology Group, a developer of battery safety and thermal management technologies, is buying 75MWh of batteries from a subsidiary of Taiwan Cement Corporation (TCC).

TCC has ordered additional 22MWh of battery storage from NHOA, the energy storage and electric mobility company it acquired from ENGIE.

Taiwan’s renewable energy goals will only be made possible with the deployment of energy storage, TCC chairman says.