2 Billion Yuan! Conch Group Signed An All-Vanadium Redox Flow Battery Energy Storage Project

On May 31, the signing ceremony of the cooperation project between Conch Group and Wuhu City and the launching ceremony of the official launch of the dual-carbon interconnection platform system of Conch Carbon Company were held. Shan Xiangqian, Secretary of the Municipal Party Committee, Ningbo, Deputy Secretary of the Municipal Party Committee and Mayor, Yang Jun, Secretary of the Party Committee and Chairman of Conch Group, Ren Yong, Deputy Secretary of the Party Committee and General Manager of Conch Group, and Tang Jinsong, City Leader, attended the ceremony.
The 9 agreements signed this time include 6 project agreements and 3 strategic cooperation agreements, with a total investment of about 5 billion yuan, including an all-vanadium flow battery energy storage project with a total investment of 2 billion yuan, and the large-scale green building materials modern logistics industrial park in the Yangtze River Delta region with a total investment of 1.8 billion yuan, etc., covers many industries such as intelligent equipment, new energy, logistics, environmental protection, as well as talents, finance and other fields. The contracted objects not only include municipal construction investment companies, municipal talent development groups, economic Development Zone, High-tech Zone, Fanchang District and other carrier units, as well as financial giants such as CICC Capital, among which Fanchang District has signed three projects with a total investment of more than 2.3 billion yuan.
It is understood that the first phase of the all-vanadium redox flow battery energy storage project signed and settled in Jiujiang District will build a green energy R&D center, an annual output of 300MW/1GWh all-vanadium redox flow battery energy storage project and supporting office and production auxiliary facilities projects. The second phase will build an annual output of 1GW/4GWh of all-vanadium redox flow battery energy storage and other planned projects in the industrial park. The large-scale green building materials modern logistics industrial park project in the Yangtze River Delta region settled in Fanchang District mainly includes warehousing and logistics facilities of 20 million tons/year construction aggregates and the Yangtze River terminal project, a new bulk material distribution center will be born to help Wuhu build a port type open platform. The new carbon dioxide energy storage project signed in this cooperation is the world’s first commercial demonstration project. It is the longest energy release time in China and the only energy storage system that can utilize low-quality industrial waste heat. The project has opened up new space for the construction of long-term energy storage systems and the utilization of industrial waste heat in China, and will play an important demonstration and promotion role in the green and low-carbon transformation of energy and the achievement of the dual-carbon goal.
The signing of a series of new energy, logistics, intelligent equipment and other projects not only highly fits the context of Wuhu’s current industrial development, but also reflects the firm determination of Conch Group in green transformation and development, which will effectively drive the city’s photovoltaic power plants, energy storage projects, etc. The accelerated development of the new energy industry has freed up energy space and environmental capacity for the industrial development of Wuhu. At the same time, Conch Group signed a strategic cooperation agreement with the Municipal Talent Group to carry out cooperation in deepening talent attraction, establishing a talent attraction network, investing in talent projects, incubating “double innovation” carriers, and ensuring talent housing. Besides, CICC Capital signed an agreement to carry out equity investment funds and other cooperation to further promote the “Wuhu Power” of the capital market to go overseas.
As the first batch of “People’s City Construction Partners”, Conch Group and Wuhu set a record of signing 9 consecutive agreements in a single day following the unveiling of “6 brands” including the Three Carbon Research Institute on November 25 last year. This shows that Conch Group is not only getting closer and closer to Wuhu in terms of industrial cooperation, but also gradually deepening cooperation in all fields such as talent development and financial construction. It is fully embedded in the high-quality development process of Wuhu, and has become an indispensable close partner for Wuhu to build an Anhui provincial sub-center and the second pole of economic growth.
On the day of the signing, Conch’s dual-carbon interconnection platform was launched simultaneously, covering functions such as carbon asset accounting and carbon asset management. Following the unveiling of Conch Group’s Three-Carbon Research Institute, the launch of the platform accelerated Conch’s process of building a green and low-carbon digital industry ecosystem with a full life cycle, and further opened a new chapter of government-enterprise cooperation to promote high-quality “two-carbon” work in Wuhu Inject strong power.