PCS Energy storage inverter becomes a “star product”

In May 2023, the investment amount of the two projects of the R&D center, energy storage and power system manufacturing base invested by Huichuan Technology in Xi ‘an was 600 million yuan and 1 billion yuan respectively. The two projects signed this time will be upgraded to the headquarters settlement, research and development business in the western region and the production and manufacturing business of energy storage converters, energy storage integrated machines, plasma power supplies and other equipment.

It is reported that after the completion of the project, it will achieve an annual output value of 10 billion yuan, annual tax revenue of 380 million yuan, and introduce more than 3,900 R & D and technical talents.

As early as September 2021, there were public reports that the relevant people of Xi ‘an High-tech Zone and Zhu Xingming, chairman and president of Huichuan Technology and other company executives attended the opening ceremony of the Xi ‘an R&D Center of Huichuan Technology. In the same year, Huichuan Technology said that the Xi ‘an research and development center had been put into use and recruited some personnel to do the low-level development of control layer software.

In terms of energy storage business layout, in addition to Xi ‘an, Huichuan Technology also set up Nanjing Huichuan Technology Research and Development Center Co., Ltd. in 2022, whose main business includes energy storage technology services.

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It is worth mentioning that Huichuan technology also has a clear layout for the future energy storage “going to sea”. The company’s 2022 annual report shows that it has gradually explored the overseas optical storage market by laying out a 20kW optical storage inverter product platform.

At the same time of the layout of energy storage business in many places, the market size of Huichuan technology energy storage products has increased rapidly, and PCS energy storage inverters have also become the “star single product” of the company’s energy storage sector.

According to the Energy Storage Leader Alliance (EESA) statistics: in 2022, Huichuan Technology company ranked third in China’s domestic energy storage of high-power PCS (30kW and above) shipments, and ranked fourth in China’s global energy storage of high-power PCS (30kW and above) shipments.

Huichuan Technology revealed that the current energy management business is mainly concentrated in the projects on the grid side. In the medium and long term, the company will transfer its energy management business to the industrial and commercial side. From the product point of view, in addition to the existing PCS energy storage inverters, it also extends to optical storage machines, special power supplies, liquid cooling terminal products, etc. In terms of business model, the company mainly sells PCS products to system integrators. On the industrial and commercial side of the business, the company will explore the role of system integration, and the current business model is in the process of building.