Secured RMB25 million in funding from Hello Tech for
Sodium-ion Battery R&D Program
Hello Tech, as CBAK Energy's first client for
sodium-ion batteries with orders potentially worth several hundred
million RMB, bolsters the Company's position as a pioneer in the
commercialization of sodium-ion batteries
DALIAN,
China, June 1, 2023 /PRNewswire/ -- CBAK
Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy," or the
"Company"), a leading lithium-ion battery manufacturer and electric
energy solution provider in China,
today announced that it has entered into a strategic agreement to
advance its sodium-ion battery R&D program ("the Agreement")
with Shenzhen Hello Tech Energy Co., Ltd. ("Hello Tech") (Shenzhen
Stock Exchange: 301327), the parent company of Jackery, a global
leading portable power supplier. This collaboration solidifies CBAK
Energy's trajectory toward becoming the world's first enterprise
capable of producing large cylindrical sodium-ion batteries on a
massive scale.
Under the terms of the Agreement, Hello Tech will invest
RMB25 million into CBAK Energy for
the research and development of sodium-ion batteries, 30% of which
the Company has already received. In addition, Hello Tech will
become CBAK Energy's first client for its sodium-ion batteries,
with orders potentially worth several hundred million RMB once CBAK
Energy's sodium-ion battery is ready for mass production, which is
expected to fortify the Company's position as a pioneer in the
commercialization of sodium-ion batteries.
Yunfei Li, Chairman and Chief
Executive Officer of CBAK Energy, commented, "We are delighted to
form a long-term strategic partnership with Hello Tech, a
prestigious global player in the portable energy supply industry.
We look forward to bringing our proven expertise in battery
development and production to this unique cooperation, which will
play a pivotal role in our ambitious sodium-ion battery strategy.
Our extensive technology assets, innovation capabilities and
industrial know-how combined with Hello Tech's complementary
resources will provide an impressive framework to support
cutting-edge sodium-ion battery technology development,
granting us a considerable first-mover advantage in this
fast-growing market."
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading
high-tech enterprise in China
engaged in the development, manufacturing, and sales of new energy
high power lithium batteries and raw materials for use in
manufacturing high power lithium batteries. The applications of the
Company's products and solutions include electric vehicles, light
electric vehicles, electric tools, energy storage, uninterruptible
power supply (UPS), and other high-power applications. In
January 2006, CBAK Energy became the
first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK
Energy has multiple operating subsidiaries in Dalian, Nanjing and Shaoxing, as well as a large-scale
R&D and production base in Dalian.
For more information, please visit ir.cbak.com.cn.
About Hello Tech
Hello Tech is an industry-leading enterprise in the portable
power supply sector, committed to offering green, low-carbon,
intelligent, user-friendly, and safe energy solutions for
households worldwide. With a strong focus on research and
development, manufacturing and sales of lithium battery energy
storage and photovoltaic products, the company is at the forefront
of innovation in portable energy storage and mobile home energy
solutions. Hello Tech has successfully established two global
brands, Jackery and Geneverse, which have revolutionized the
industry. Presently, Hello Tech has emerged as a key player in the
global portable power supply market, with its products being
distributed in over 30 countries and regions, boasting an
impressive cumulative sales figure surpassing 3 million units. On
September 19, 2022, Hello Tech was
listed on the Shenzhen Stock Exchange, trading under the stock code
301327.
About Jackery
Jackery, founded in 2012, is a pioneer in the solar generator
industry and a global top-selling solar generator brand recognized
by over 150 authorized media and organizations worldwide. With over
10 years of experience in the field, Jackery is now a global energy
leader, the number one producer of portable power, and one of the
world's biggest manufacturers of outdoor solar utilities. Jackery
is one of the top portable energy suppliers in the US.
Safe Harbor Statement
This press release contains "forward-looking statements" that
involve substantial risks and uncertainties. All statements other
than statements of historical facts contained in this press
release, including statements regarding our future results of
operations and financial position, strategy and plans, and our
expectations for future operations, are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. We have attempted to identify forward-looking statements
by terminology including "anticipates," "believes," "can,"
"continue," "could," "estimates," "expects," "intends," "may,"
"plans," "potential," "predicts," "should," or "will" or the
negative of these terms or other comparable terminology. Our actual
results may differ materially or perhaps significantly from those
discussed herein, or implied by, these forward-looking
statements.
The forward-looking statements included in this press release
are made as of the date of this press release and the Company
undertakes no obligation to publicly update or revise any
forward-looking statements, other than as required by applicable
law.
For further inquiries, please contact:
In China:
CBAK Energy Technology, Inc.
Investor Relations Department
Mr. Thierry Jiewei Li
Phone: 86-18675423231
Email: ir@cbak.com.cn
The Piacente Group, Inc.
Ms. Hui Fan
Tel: +86-10-6508-0677
Email: CBAK@thepiacentegroup.com
In the United
States:
The Piacente Group, Inc.
Ms. Brandi Piacente
Tel: +1-212-481-2050
Email: CBAK@thepiacentegroup.com
View original
content:https://www.prnewswire.com/news-releases/cbak-partners-with-hello-tech-the-parent-company-of-jackery-a-premier-global-portable-power-supplier-to-advance-sodium-ion-battery-rd-301836867.html
SOURCE CBAK Energy Technology, Inc.