October 27, 2014
Alevo Group, the Energy Service Provider, today announced that it has signed a strategic cooperation agreement with China-ZK International Energy Investment Co, Ltd. (China-ZK). Under the terms of the agreement China-ZK will promote and commercialize Alevo’s technology products and services in China. This will include Alevo’s GridBank energy storage systems and its data analytics services for energy efficiency optimization.
China-ZK will assist Alevo in liaising with the central and local authorities as well as state and private enterprises. China-ZK will also assist Alevo in funding the establishment of manufacturing facilities in China for both GridBank production and the Nickel foam substrate that is core to its inorganic energy storage technology.
“Today China is the largest consumer of electricity in the world and as the Chinese economy continues to grow, so too will its demand for electricity. China has chosen the Alevo GridBank technology to improve not only the efficiency of power generation and distribution, but the effectiveness as well,” said Dr. Deng Xu, Chairman of China ZK. “Specifically, we will be able to significantly reduce production costs, improve the efficiency of existing capacity, and thus be able to provide better service to our end-users and reducing pollution. It is with great honor that we partner with Alevo on its new production facility in Concord, NC to continue North Carolina’s rich manufacturing history.”
“Energy storage and data analytics have the capacity to transform the world’s energy markets by eliminating waste and reducing pollution. With this agreement, China-ZK has shown that it is at the forefront of driving these technologies to the benefit of the energy utilities, commercial customers and consumers,” said Jostein Eikeland, Chairman and CEO Alevo.
The agreement will also see an initial pilot of the Alevo Energy storage technology with Guangdong Provincial Key Laboratory of Distributed Energy System in Guangdong Province of China, commencing by the end of 2014.
Alevo is a leading provider of energy storage systems designed to deliver grid-scale electricity on demand. Its innovative battery technology and GridBanks enable new source-agnostic architecture for electrical grids that reduce waste, greenhouse gases and other emissions, create efficiencies and lower costs for the world’s energy producers. Founded in 2009, Alevo Group is headquartered in Martigny, Switzerland. For more information, visit www.alevo.com.
Media contact information found on www.alevo.com/contact/.
China-ZK International Energy Investment Co., Ltd. is a Chinese company founded in 1983 but restructured and reformed by the end of 2010 through introducing private capital (state holding 49% shares and private jointly holding 51% shares) with a registered capital of 800 MRMB (roughly 130 MUSD ) and headquartered in Beijing, China.
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