Gree Group’s investment subsidiary invests in battery maker EXENCELL

Shanghai (Gasgoo)- Zhuhai Gree Financial Investment Management Co., Ltd. (“Gree Finance Investment”), an investment firm wholly-owned by Gree Group, recently completed a strategic investment in the Chinese battery maker Shenzhen Exencell New Energy Technology Co., Ltd. ("EXENCELL"), according to a post on EXENCELL's WeChat account.

Established in May 2017, Gree Finance Investment has steadfastly supported the growth, improvement, and strengthening of the real economy, powering the high-quality development of invested enterprises and the upgrading of Zhuhai's industrial structure. The company's business, centered on industrial investment, serves the industrial development of the Guangdong-Hong Kong-Macao Greater Bay Area and the optimization and upgrading of Zhuhai's industrial structure.

Simultaneously with this strategic investment in EXENCELL, Gree Financial Investment has also provided substantial industrial support for the company's development in Zhuhai city. As a collaborative investor, it will offer construction safeguards for the successful completion of EXENCELL's New Energy (Zhuhai) energy storage battery project. The completion of this project will fill a void in Zhuhai's lithium battery storage industry chain.

EXENCELL is primarily engaged in the business of electrochemical energy storage. The company provides two major energy storage solutions: centralized and distributed energy storage, for manufacturers globally.

Photo credit: EXENCELL

Established in October 2021, EXENCELL has since set up five subsidiaries that serve as main sales, production, and research and development bases. Among these, the 280Ah prismatic iron lithium production line in the Mianyang production base was initiated in the second quarter of 2022. The pilot plant was capped in Nov. 2022, and the first piece of equipment arrived on Dec. 25, 2022.

Moreover, EXENCELL said it attaches great importance to energy management and carbon reduction capability enhancement. At the factory construction stage and during production operations, it aims to maximize control over energy consumption, improve energy management, conserve energy, enhance energy utilization efficiency, reduce energy-related greenhouse gas emissions and pollutant discharges, and lower environmental accident risks. It also focuses on the carbon emission management of products throughout their life cycle. EXENCELL (Mianyang) battery industry park Phase I project has received a low-carbon operation excellence certificate under the net-zero carbon building certification assessment system issued by TÜV Rheinland Greater China, in partnership with the British Building Research Establishment (“BRE”).

Photo credit: EXENCELL

On May 16, the government of Jinwan District in Zhuhai city, Gree Group, Liangang Group, and EXENCELL signed the investment agreement for the EXENCELL New Energy (Zhuhai) energy storage battery project.