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Highpower gets energy storage funding from Shenzhen government

Mon, 07/21/2014 - 16:04 -- Laura Varriale
Highpower ESS

Highpower International has received Rmb3.86m ($622,200) from state funds to develop its PV and off-grid energy storage systems (ESS).

The funds, given by Development and Reform Commission of Shenzhen Municipality, will be mainly spent on development and production equipment in order to accelerate production for Highpower’s residential ESS, the company said.

Highpower’s subsidiary Icon Energy Systems recently introduced an ESS-line, which features a lithium-ion battery, solar cell panel and inverter output device, charged by PV and commercial grid. The product line ranges from 0.5kWh to 15kWh and aims to serve the needs of commercial and residential power systems, solar power, back-up emergency power and outdoor uses.

George Pan, chairman and CEO of Highpower said: “Both central and local governments of China are committed to nurturing and favoring the development of the clean energy industry. We continue to benefit from increasing government support and intend to leverage our expertise and production capability to increase our pipeline of rechargeable battery products.”

The global energy storage market is expected to grow fast over the next years. According to Navigant Research, the micro grid market will increase from $4.3 billion to $19.9 billion in 2020.

Battery supplier Highpower also manufactures consumer-oriented chargers for e-bikes as well as lithium and nickel-metal hydride-based batteries.