SolaX Power, an energy storage solutions provider, announced a $149.8 million investment to establish a research and manufacturing facility in Zhejiang Province.
The new facility will focus on utility energy storage systems and integrated smart energy technologies aligning with SolaX’s commitment to advancing the global transition to clean energy.
This investment will address the increasing demand by developing advanced storage technologies that improve grid stability and support commercial and utility-scale applications.
These systems will play a key role in sustaining a resilient power grid and promoting decarbonisation efforts by storing energy for deployment during peak demand periods.
The new facility will expand SolaX’s production capacity, positioning the company as a leader in energy storage innovation.
This expansion comes as countries worldwide are urging a reduction in reliance on fossil fuels and a shift towards sustainable energy systems.
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Of the total $149.8 million investment, $107.8 million will be allocated towards fixed assets, including R&D labs, testing centres, and advanced manufacturing lines.
These facilities will enhance SolaX’s ability to bring new technologies to market faster, improve production efficiency, and scale up its operations.
In addition to energy storage the facility will prioritize the development of integrated intelligent energy systems that integrate solar power, energy storage, heating, and electric vehicle (EV) charging.
Using technologies such as artificial intelligence (AI), the Internet of Things (IoT), and big data, SolaX aims to create innovative energy solutions that optimise real-time energy usage.
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These systems will give consumers greater control over their energy consumption, enabling decentralised energy management and reducing reliance on traditional grids.
Through the integration of various energy technologies, SolaX’s solutions will provide flexibility and convenience, ultimately enabling users to enhance the efficiency and cost-effectiveness of energy management.