NaaS Technology Inc. ("NaaS"), one of the largest and fastest growing electric vehicle charging service providers in China, and Beijing HyperStrong Technology Co., Ltd. ("HyperStrong"), a leading energy storage system integrator and system service provider, jointly announced their strategic collaboration. Nengcang Technology, a subsidiary of NaaS, and HyperStrong will establish the joint venture NewLink Hyper Technology Co., Ltd. ("NewLink Hyper").
Through NewLink Hyper, the two sides will join forces to develop the energy storage business. Each company will harness its advantages in user base, application scenarios, products and technology to deliver diverse all-scenario energy storage solutions and advance China's "dual carbon" goals.
Ms. Yang Wang, founder and chief executive officer of NaaS, said, "With the fast development of photovoltaic and wind power generation, as well as the rapid growth of electric vehicles, the power system with respect to supply and demand has grown progressively unstable and unbalanced, and the importance, as well as urgency, to build energy storage has become increasingly prominent. Against this backdrop, we forged a strategic collaboration with HyperStrong."
Zhang Jianhui, president of HyperStrong, commented, "HyperStrong and NaaS will leverage the complementary advantages of both parties to unlock huge potential synergy. According to China's national plans and targets, by 2025, the installed capacity of new energy storage facilities will exceed 30GW. NewLink Hyper will capitalize on each party's high-quality application scenarios and advanced technology to provide technical support and services for the rapid and healthy development of the energy storage industry."
