Qingdao CIMC-Powin New Energy Technology Project commences

The commencement ceremony for the Qingdao CIMC-Powin New Energy Technology Project is held on May 26. [Photo/WeChat ID: qingdaozimao]

The Qingdao CIMC-Powin New Energy Technology Project in the Qingdao area of the China (Shandong) Pilot Free Trade Zone, or Qingdao FTZ, recently broke ground.

The project will be focused on the R&D, manufacturing and sales of technologically advanced energy storage equipment that is widely used in utilities, commercial and industrial and microgrids sectors. It is expected to generate an annual industrial output value of 2 billion yuan ($280.68 million) and develop fully integrated battery storage solutions, software and services by utilizing the advanced technology of Powin LLC, which is based in the United States.

Qingdao CIMC-Powin New Energy Technology Co Ltd, which has a registered capital of 200 million yuan, was established in April 2023 by Qingdao CIMC Container Manufacturing Co Ltd, CIMC Technology Co Ltd and Powin LLC. Its customers hail from regions around the world, including North America, Australia and Europe.

A rendering of the Qingdao CIMC-Powin New Energy Technology Project. [Photo/WeChat ID: qingdaozimao]