China Tianying and State Grid Jiangsu Zongneng reached a strategic cooperation on gravity energy storage

In order to further implement the demonstration project of gravity energy storage, build a domestic gravity energy storage industry development ecosystem, and seize the commanding heights of future global zero-carbon industry competition, China Tianying Co., Ltd. (hereinafter referred to as "the Company" or "Party A") and State Grid Jiangsu Integrated Energy Services Co., Ltd. (hereinafter referred to as "State Grid Jiangsu Integrated Energy" or "Party B") signed a "Strategic Cooperation Agreement" to reach a strategic cooperation on gravity energy storage technology research and project development related matters.

Cooperation content:

(1) Parties A and B shall work together to establish a collaborative team to promote the deep integration and development of gravity energy storage technology and the power grid, and jointly promote the construction of the Rudong 100MWh user-side gravity energy storage demonstration project.

(2) The two parties will complement each other's resources based on their respective advantages. Party A will provide Party B with gravity energy storage projects and technical support, and Party B will provide Party A with consulting and coordination services in areas such as access system design and planning review, grid access, and grid-related testing.

(3) Based on the successful implementation of the Rudong 100MWh user-side gravity energy storage demonstration project, Parties A and B will jointly develop and cooperate in the promotion of subsequent gravity energy storage projects. The form of cooperation may be agreed upon separately.

(4) Parties A and B will focus on promoting cooperative research and development in three directions and fields and jointly develop a cooperative model:

① Based on the source-grid-load-storage integrated technology of "new energy + gravity energy storage", explore the combination mode of electricity consumption, power generation, energy storage, peak load regulation and frequency regulation, actively expand the application scenarios of gravity energy storage technology, promote the diversified application of energy storage technology, and help green development;

② Continue to innovate gravity energy storage technology, accelerate the realization of independent core energy storage technology, promote the continuous reduction of energy storage costs and large-scale application, improve energy storage technology standards and management systems, and enhance the level of safe operation;

③ Relying on new models and new business forms such as new energy consumption, source-grid-load-storage integrated projects, integrated energy services, smart microgrids, and virtual power plants, carry out research and development and demonstration of smart energy system technologies such as intelligent dispatching, energy efficiency management, and intelligent load control, and actively apply for national and provincial scientific and technological research and development projects.

(5) Subject to policy permission, Party B will assist in promoting the project's participation in various power markets such as medium- and long-term transactions, spot trading, demand response, peak-shaving and frequency regulation ancillary services, and the specific sharing of profits between the two parties will be agreed upon separately.