Haibosichuang won the bid for the commercial and industrial energy storage project

How is HBIS transforming the steel industry?

It leads the steel industry in green power trading, ranking among the top ten in China, and aims to achieve a renewable energy capacity of 350 MW by 2025. To enhance renewable energy utilization, HBIS is accelerating the development and application of energy storage technologies.

What does HBIS do?

In the energy storage sector, HBIS is leveraging its vanadium and titanium resources to build a 300 MW annual vanadium battery storage production line to enhance the vanadium-titanium industry chain, fostering innovation and competitive differentiation. Utilizing its energy scenarios, HBIS promotes the demonstration of energy storage technologies.

What is the future of energy storage in China?

In China, generation-side and grid-side energy storage dominate, making up 97% of newly deployed energy storage capacity in 2023. 2023 was a breakthrough year for industrial and commercial energy storage in China. Projections show significant growth for the future.

Who is HBIS Group?

HBIS Group is addressing the challenges of the green transition and green power demand. It leads the steel industry in green power trading, ranking among the top ten in China, and aims to achieve a renewable energy capacity of 350 MW by 2025.

Who owns Mitsubishi Electric Shanghai Mechanical & Electrical Elevator Company?

Mitsubishi Electric Shanghai Mechanical & Electrical Elevator Co., Ltd. ("MESMEE") is held as to 40% by Shanghai Mechanical & Electrical Industry Co., Ltd., a 48.81% owned subsidiary of the Company, 40% by Mitsubishi Electric and 20% by Mitsubishi Electric Building Techno-service Co., Ltd., a wholly-owned subsidiary of Mitsubishi Electric.

Will commercial and industrial energy storage systems become more profitable by 2030?

According to the latest research, by 2030 it will be much more straightforward for commercial and industrial energy storage systems to participate in spot markets and provide ancillary services, leading to substantial revenue growth.