EVE Energy Marks the Prelude to Industry Transformation: Signs Strategic Cooperation Agreement with Jingmen GEM New Materials

※ Signs Strategic Cooperation Agreement with Jingmen GEM New Materials

On August 14, EVE Energy’s wholly-owned subsidiary, Hubei EVE Digital Energy Technology Co., Ltd., signed a strategic cooperation agreement with GEM Co., Ltd.’s wholly-owned subsidiary, Jingmen GEM New Materials Co., Ltd. (hereinafter referred to as “GEM New Materials”), in Jingmen for a 60.2 MW/120.4 MWh energy storage project.

Jingmen Municipal Party Committee Secretary Hu Yabo attended the event and witnessed the signing. Municipal Party Committee Deputy Secretary and Mayor Chen Jiawei attended and delivered a speech. Liu Jincheng, Chairman of EVE Energy Co., Ltd., and Xu Kaihua, Chairman of GEM Co., Ltd., gave speeches. Other attendees included Liu Kexiong, Member of the Standing Committee of the Municipal Party Committee and Municipal Party Committee Secretary, and Deputy Mayor Zhou Junjie. Representatives from Hubei EVE Digital Energy Technology Co., Ltd. and GEM Co., Ltd. signed the agreement on-site.

According to the agreement, the energy storage project will use lithium iron phosphate batteries produced at EVE Energy’s Jingmen factory and is scheduled to commence operations in the second half of 2024 within the GEM Jingmen New Energy Circular Economy Low Carbon Park, covering an area of approximately 7,000 square meters.

EVE Energy, in partnership with local enterprises in Jingmen, is constructing a large-scale user-side energy storage power station. This initiative achieves the production, use, and efficiency enhancement of energy storage batteries within Jingmen, creating a "one-stop" resource platform. It aims to generate benefits for enterprises while supporting their transition to renewable energy and enabling innovation in the industrial chain.

The cooperation between EVE Energy and Jingmen GEM New Materials also includes the following aspects:

1. Battery Material Development: Jointly developing new high-performance battery materials to enhance energy density, cycle life, and safety of batteries. This includes innovation in lithium battery anode materials, cathode materials, and electrolytes.

2. Recycling Technology Enhancement: Utilizing GEM New Materials’ advanced battery recycling technologies to optimize EVE Energy’s product lifecycle management. This involves designing batteries with recycling needs in mind to increase resource recovery rates and minimize environmental impact.

3. Supply Chain Integration: Building a more integrated supply chain system through collaboration, which includes raw material supply, product manufacturing, and end-of-life battery recycling. This aims to improve resource utilization efficiency and reduce operational costs.

4. Market Expansion: Jointly exploring new markets, particularly in the global electric vehicle and energy storage systems sectors, to drive the market penetration of both parties' technologies and products.

GEM New Materials, a wholly-owned subsidiary of GEM Co., Ltd., and the largest industrial base invested by GEM Group in China, bears the responsibility for the company's green and low-carbon development.

Hubei EVE Digital Energy Technology Co., Ltd., a wholly-owned subsidiary of EVE Energy, focuses on digital energy technology. It cooperates with clients in constructing large-scale user-side energy storage power stations through a contract energy management model, providing one-stop services ranging from design and construction to operation and maintenance, thus promoting energy transition and the adoption of clean energy.

Leveraging this signing as an opportunity, both parties will fully utilize GEM New Materials’ technological and platform advantages in the circular economy field and EVE Energy’s strengths in technology, product solutions, and manufacturing to actively develop a demonstration project for user-side energy storage stations in Jingmen. This collaboration will empower local enterprises in their green and low-carbon transformation and upgrade.