EVE Energy Signs Strategic Cooperation Agreement with Jingmen GEM New Materials to Empower User-Side Energy Storage Development

On August 14, Hubei EVE Digital Energy Technology Co., Ltd., a wholly-owned sub-subsidiary of EVE Energy, signed a strategic cooperation agreement on 60.2MW/120.4MWh energy storage project with Jingmen GEM New Materials Co., Ltd. (GEM New Materials), a wholly-owned subsidiary of GEM Co., Ltd., in Jingmen, Hubei.

Hu Yabo, Secretary of the CPC Jingmen Municipal Committee, attended the event and witnessed the signing ceremony. Chen Jiawei, Deputy Secretary of the CPC Jingmen Municipal Committee and Mayor of Jingmen City, was present and delivered a speech. Liu Jincheng, Chairman of EVE Energy Co., Ltd., and Xu Kaihua, Chairman of GEM Co., Ltd., also gave speeches at the signing ceremony. Other attendees included Liu Kexiong, Member of the Standing Committee and Secretary General of the CPC Jingmen Municipal Committee, and Zhou Junjie, Deputy Mayor of Jingmen City. Representatives of Hubei EVE Digital Energy Technology Co., Ltd. and GEM Co., Ltd. signed the agreement on the site.

According to the agreement, this energy storage project will use lithium iron phosphate batteries produced at EVE Energy's Jingmen factory. It is planned to be officially put into operation in the second half of 2024 at GEM (Jingmen) New Energy Materials Circular Economy Low Carbon Industrial Park, covering an area of about 7,000 square meters.

EVE Energy cooperates with local enterprises in Jingmen to build a large-scale user-side energy storage station, which achieves the local production, use, and efficiency enhancement of energy storage batteries in Jingmen, creating a "one-stop" resource platform. This initiative not only generates benefits for the enterprises but also supports the green transformation and innovative development of the local industrial chain.

As a wholly-owned subsidiary of GEM Co., Ltd., a global leader in the circular economy, and the largest industrial base established by GEM Co., Ltd. in China, GEM New Materials carries the important mission of advancing green and low-carbon development.

Hubei EVE Digital Energy Technology Co., Ltd., a wholly-owned sub-subsidiary of EVE Energy, focuses on digital energy technology. The company collaborates with clients through contract energy management models to build large-scale user-side energy storage stations, providing one-stop services from design and construction to operation and maintenance, promoting energy transformation and the widespread adoption of clean energy.

The signing of this agreement will serve as an opportunity for both parties to leverage technological and platform advantages of GEM New Materials in the circular economy and EVE Energy's strengths in technology, product solutions, and manufacturing. Together, they will actively develop a demonstration project for user-side energy storage stations in Jingmen, empowering local enterprises to achieve green and low-carbon transformation and upgrade.