NaaS Secures RMB204 Million Energy Storage Order, Pursuing Global Leadership in Integrated Charging and Storage Solutions

September 6, 2023 at 7:10 AM EDT

BEIJING, Sept. 6, 2023 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it has signed strategic cooperation agreements with several enterprises through its subsidiary Nengcang Technology. Under the agreements, NaaS will supply over 380 charging stations with energy storage equipment while offering comprehensive solutions, boasting an energy storage capacity of 130.088MWh. The total order value is RMB204 million, with implementation set for the coming months.

In this collaboration, NaaS will design customized energy storage solutions for its partners based on the unique operational characteristics of each charging station. These solutions will encompass Energy Management Systems (EMS), Engineering, Procurement, and Construction (EPC) services, as well as AI-Powered energy storage and charging operations, providing an all-inclusive, integrated service package. This holistic approach streamlines energy storage system integration within charging stations, bolstering their development and application.

As the largest integrated service provider for energy storage at charging stations in China, the Company will leverage expertise in utilizing charging station digital analytics capabilities together with capabilities in constructing and operating integrated photovoltaic-storage-charging stations. Through intelligent site selection and evaluation services, the Company will meticulously assess the energy management needs of charging stations spread across Zhejiang, Shanghai, Jiangsu, Hainan, Guangdong, Sichuan, and Chongqing. This process will involve selecting suitable sites for energy storage and charging that also meet investment payback targets.

In this initiative, NaaS has joined forces with industry-leading energy storage equipment integrators such as HyperStrong and Yongtai Energy. Together, they will supply more than 380 charging stations with a range of outdoor integrated storage cabinets, with configurations including 100KW/233KWh, 100KW/215KWh, 75KW/160KWh, 75KW/135KWh, and 60KW/115KWh. These diverse "All-in-one" designs cater to a variety of charging and discharging scenarios, ultimately maximizing investment returns. Nengcang Technology aims to complete the delivery of 500 sets of energy storage equipment by 2023.

"We are thrilled to embark on this strategic cooperation with our prominent partners, a testament to the recognition of NaaS' operating capabilities and business model in seamlessly integrating energy storage solutions at charging stations," stated Ms. Yang Wang, founder and CEO of NaaS. "According to the NaaS Research Institute, China's charging stations will grow to 1.8 million in the next decade, requiring a 637GWh of energy storage capacity, with total investment expected to exceed RMB1 trillion. Consequently, by propelling the growth and maturation of photovoltaic-storage-charging station development, we are redefining the energy landscape. We strongly believe that this collaboration will not only drive our growth but also have far-reaching exemplar effects that are poised to resonate throughout the industry in the times ahead."

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop EV charging solutions to charging stations comprising online EV charging, offline EV charging and innovative and other solutions, supporting every stage of the station lifecycle. As of March 31, 2023, NaaS had connected over 575,000 chargers covering 55,000 charging stations, representing 40% and 49% of China's public charging market share respectively. On June 13, 2022, the American depositary shares of the Company started trading on Nasdaq under the stock code NAAS.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

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