Guangzhou's new energy storage industry takes off in Huangpu

Recently, an event promoting the application scenarios of the new energy storage industry in Guangzhou was held in Huangpu district.

Hengyun Group and Huachi Kinetic Energy signed an agreement on-site, with both parties planning to invest 1 billion yuan ($137.5 million) to establish the Southern Base for Full Magnetic Levitation Flywheel Energy Storage in Huangpu district.

Hengyun Energy Storage Product Production Base. [Photo/WeChat account: guangzhougaoxinqu]

Huachi Kinetic Energy. [Photo/WeChat account: guangzhougaoxinqu]

Hengyun Group, a key State-owned enterprise in the energy field in Guangzhou, possesses rich industrial heritage, while Huachi Kinetic Energy is a leading player in flywheel energy storage technology, holding multiple core patents.

This cooperation will be carried out in three phases, with an initial investment of 400 million yuan to build a production base and expand into the southern market, followed by additional investments to enhance the industrial chain. The project is expected to generate revenue exceeding 200 million yuan in 2026 and reach 1 billion yuan by 2028, creating 500 new job opportunities and annual tax revenues exceeding 20 million yuan.

Both parties will also collaborate on a flywheel energy storage demonstration project, applying a "flywheel + lithium battery" hybrid energy storage technology at the Hengyun Sino-Singapore Guangzhou Knowledge City Energy Storage Station, and jointly researching hybrid energy storage systems to explore cutting-edge technological directions.

Additionally, leveraging the industrial policy advantages of Huangpu, both parties will bring in upstream and downstream enterprises to build a complete energy storage ecosystem.

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