The agreement will see China-ZK promoting and commercialising Alevo’s technology products and services in China, including the company’s GridBank energy storage systems and its data analytics services for energy efficiency optimisaiton.
China-ZK will assist Alevo in liaising with the central and local authorities as well as state and private enterprises and will also provide assistance with funding for the establishment of manufacturing facilities in China for both GridBank production and the Nickel foam substrate that is central to Alevo’s inorganic energy storage technology.
“Today China is the largest consumer of electricity in the world and as the Chinese economy continues to grow, so too will its demand for electricity” said Dr. Deng Xu, Chairman of China ZK. “China has chosen the Alevo GridBank technology to improve not only the efficiency of power generation and distribution, but the effectiveness as well. Specifically, we will be able to significantly reduce production costs, improve the efficiency of existing capacity, and thus be able to provide better service to our end-users and reducing pollution.
Jostein Eikeland, Chairman and CEO Alevo added that energy storage and data analytics have the capacity to transform the world’s energy markets by eliminating waste and reducing pollution.
The agreement will also see an initial pilot of the Alevo Energy storage technology with Guangdong Provincial Key Laboratory of Distributed Energy System in Guangdong Province of China, commencing by the end of 2014.
Alevo specialises in the provision of energy storage systems designed to deliver grid-scale electricity on demand. Its innovative battery technology and GridBanks enable new source-agnostic architecture for electrical grids that reduce waste, greenhouse gases and other emissions, create efficiencies and lower costs for the world’s energy producers. The company was founded in 2009 and is headquartered in Martigny, Switzerland.
China-ZK International Energy Investment Co Ltd was originally founded in 1983 but had been restructured and reformed by 2010 through the introduction of private capital with the state holding 49 percent of the shares and private companies jointly holding 51 percent. The company is headquartered in Beijing, China.
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