As the world prepares to enter the TWh era in energy storage, the demand for energy storage batteries with larger capacity, enhanced safety, extended lifespan, and reduced costs has become pressing. The market is witnessing a surge in demand for high-capacity energy storage batteries, prompting companies to innovate and respond to the changing landscape. Recently, REPT made a significant announcement, revealing that its 320Ah Wending energy storage battery is set to undergo mass production in Q3. This achievement marks a pioneering milestone, as REPT becomes the first enterprise in the industry to achieve mass production of the 320Ah battery. This development signifies the dawn of a new era in energy storage batteries, following the dominance of the 280Ah battery era. Moreover, the 320Ah Wending energy storage battery has already obtained three international authoritative certificates from TÜV Rheinland, namely UL 1973, UL 9540A, and IEC 62619. This attests to the battery’s adherence to international safety standards, opening doors for its entry into the global market.
Currently, China’s energy storage market is experiencing a significant shift, transitioning into a new phase of large-scale development, where 100 MW level projects have become commonplace. This evolving landscape has prompted market demand to drive innovation in security and cycle life technologies. Furthermore, high-capacity energy storage batteries have become the benchmark for competition among energy storage technology vendors. Based on partial statistics from CNESA DataLink, there are presently over 20 models of energy storage batteries with capacities of 300Ah and higher. Each type of battery possesses varying capacities. In light of this, anticipation grows for the emergence of the next generation of standardized products that could potentially streamline the market and establish more uniform specifications.
The future mainstream product is high-capacity energy storage battery
Presently, the 280Ah battery has emerged as a prominent and widely adopted large-capacity product. Since 2020, numerous bidding projects have specifically demanded batteries with a capacity of 280Ah or higher as a prerequisite for participation. The appeal of the 280Ah battery lies in its exceptional value, offering lower costs, longer cycle life, and higher capacity. As a result, it has secured a leading position in the large storage market and rapidly penetrated various application scenarios within the industrial, commercial, and energy storage sectors.
Recognizing the market demand and foreseeing the industry trends, REPT strategically focused on developing high-capacity batteries with long cycles, low costs, and superior safety. Consequently, the company launched its Li-FePO4 280Ah battery products at the opportune moment. These batteries have demonstrated remarkable performance, maintaining 80% of their capacity even after 6000 cycles, with a complete cycle life of up to 10,000 times. Furthermore, the surge in market demand has spurred the swift ramp-up of production capacity. To cater to the requirements of downstream system integrators, all 280Ah batteries produced by various manufacturers have largely adopted the same size and shape, resulting in a mainstream and relatively standardized high-capacity product. As of the first half of 2023, the domestic projects for centralized procurement of energy storage batteries continue to prioritize the 280Ah battery.
Currently, the 280Ah battery remains a focal point for centralized procurement. However, leading battery manufacturers continue their unwavering dedication to research and development, striving to create energy storage batteries with even more cycle times, longer life spans, heightened security, and larger capacities. Notably, among batteries with capacities surpassing 300Ah, the prevailing trend indicates that many manufacturers are setting their sights on the 320Ah energy storage battery as their preferred development direction. As for who will adopt the 280Ah as their mainstream battery products, the answer has yet to surface. Nevertheless, the pivotal factor in the development of the 280Ah battery lies in achieving mass production capacity and spearheading the way in opening up the application market.
Wending 320Ah energy storage battery is put into mass production and obtains the pass to the international market first
The commencement of mass production for the Wending 320Ah energy storage battery not only exemplifies REPT’s prowess in technology research, development, and manufacturing capabilities but also marks a significant milestone in the energy storage technology domain. This achievement signals the advent of the era of high-capacity energy storage batteries, with capacities surpassing 300Ah. Innovation and progress in energy storage batteries are inherently linked to cycle life, cost, and safety. The 320Ah Wending energy storage core product retains the same physical shape as the widely used 280Ah battery, ensuring strong compatibility. Nevertheless, it represents a comprehensive improvement in terms of performance and safety. By maintaining identical dimensions to the 280Ah battery, the 320Ah battery facilitates seamless system upgrades for customers. This enhancement allows for swift integration of the new high-capacity battery into existing systems.
Currently, a significant portion of domestic energy storage systems are designed around the size of 280Ah batteries. For system integrators and power station owners, utilizing batteries of the same size allows them to maintain their existing energy storage systems and module designs, resulting in reduced time and cost when upgrading the batteries. However, batteries with larger capacities are better suited to meet market demands.
Let’s consider a common 100MW energy storage project as an example. A 100MW/200MWh energy storage power station requires over 200,000 280Ah batteries. These batteries can be combined in a single container through series-parallel connection. By introducing the 320Ah Wending energy storage battery, the system power can be increased by over 14%. Consequently, the capacity of a 20-foot container is boosted by 1.39MWh, effectively reducing the number of batteries needed for the same scale of power station. Additionally, the number of PACK modules can be reduced, resulting in cost reduction and improved integration ease.
Moreover, the implementation of the 320Ah battery has led to a reduction in the number of series-parallel connection batteries, consequently improving the data acquisition and monitoring accuracy of the Battery Management System (BMS). The adoption of the 320Ah battery also results in a significant reduction in system weight, exceeding 5% when compared to the same power output, making transportation and installation more convenient. The high energy density of the large capacity battery translates to a smaller footprint, which in turn reduces the civil engineering and installation costs for the system owner. REPT has achieved a remarkable balance between battery energy density and cycle life through the utilization of solid-liquid interface technology, dual high electrodes technology, and cutting-edge process technology. As a result, the 320Ah large-capacity battery offers a volumetric energy density of 400Wh/L and a cycle life of over 10,000 times, showcasing considerable improvements in performance. In terms of life and safety, Wending 320 Ah batteries excel with a DC internal resistance reduction of more than 13%, energy efficiency exceeding 95%, and a 25 ℃ normal temperature cycle, ensuring the product’s durability for over 20 years of usage.
It has been observed that by reducing internal resistance, battery heat can be minimized, consequently leading to improved battery and system efficiency. As a result, the extended battery life contributes to reduced power consumption in the thermal management of energy storage systems. Striking a delicate balance between safety and performance, these advancements enable cost reduction and enhanced overall efficiency. Notably, REPT has achieved a significant milestone by becoming the first industry enterprise to obtain three international authoritative certificates (UL1973, UL9540A, and IEC62619) from TÜV Rheinland for its 320Ah battery. This accomplishment serves as a critical stepping stone for accessing the international energy storage market. However, it is important to acknowledge that this is only the beginning. As REPT nears mass production and gains market validation, it has the potential to seize a prime opportunity in the 320Ah energy storage battery domain.
Striving to become a top-tier battery enterprise
REPT has exhibited remarkable growth since its establishment in 2017. Over the span of just three years, the company has experienced unparalleled expansion, with its production capacity surging more than 10 times from 2.3GWh in early 2020 to an impressive 35.2GWh by the end of 2022. Moreover, the sales volume of REPT’s energy storage batteries soared to 10.48GWh in 2022, representing a staggering 632% increase from the previous year’s 1.43GWh. This outstanding performance earned REPT the distinguished fourth position in the 2022 Global Market Energy Storage Battery Shipments and 2022 Global Market Residential Energy Storage Battery Shipments rankings, as per the Energy Storage Industry Research White Paper 2023. In light of the rapid growth in the new energy sector, companies must possess unique competitive advantages to thrive in the global market competition. REPT has successfully recognized its differentiators through strategic planning and establishing strong collaborations with major customers. Notably, the company takes pride in its efficient production capacity planning and its ability to form valuable strategic partnerships.
Looking ahead to the global market, it is projected that the total production capacity will reach an impressive 150GWh by the close of 2025. As part of this ambitious growth strategy, REPT is set to achieve an annual production capacity of 30GWh batteries through the signing of the PACK project in Chongqing in 2023, with a substantial investment of 10 billion RMB. Presently, REPT already boasts domestic production bases in Wenzhou, Jiashan, Foshan, Liuzhou, and more. Furthermore, the company has strategically planned to establish additional production lines in key regions such as Europe, Indonesia, and America. This strategic expansion will enable REPT to gradually unleash its increased production capacity, thereby significantly enhancing its ability to cater to global customers. This, in turn, will facilitate REPT's further penetration and expansion in the global market. Notably, REPT has successfully secured a framework sales agreement for an impressive 42.9GWh energy storage battery.
According to the prospectus, REPT’s primary energy storage customers consist of household energy storage integrators, PV inverter manufacturers, system integrators, and EPC companies. Remarkably, in 2022, energy storage customers ranked among the top five contributors to REPT’s revenue, accounting for an impressive 11.7%. In the initial half of 2023, REPT achieved significant milestones by securing a series of substantial overseas orders. The company also established a collaboration with Powin LLC, a renowned global energy storage system integrator based in the United States. Furthermore, REPT signed a promising cooperative agreement with Energy Vault, Inc., aimed at the production of 3GWh advanced energy storage batteries and 10GWh liquid-cooled energy storage battery systems. REPT’s latest offering, the Wending series energy storage batteries, showcases exceptional technology and performance. The release of these batteries garnered substantial interest from key customers, who eagerly signed supply agreements upon their launch. This enthusiastic response from head customers reaffirms the notion that technology indeed serves as a potent competitive advantage for REPT.
In the lithium battery industry, REPT emerged as an unexpected and highly successful player, akin to a “dark horse.” Early on, the company received invaluable backing from Tsingshan Group and leveraged its exceptional research and development capabilities, swiftly transforming into a prominent figure within the industry, much like a “unicorn.” As the world gears towards a global zero-carbon transition, the power and energy storage market is witnessing a remarkable evolution, presenting unprecedented trillion-dollar opportunities. Concurrently, the new energy sector has ventured into the terawatt-hour (TWh) era, signifying the vast potential it holds. In this context, REPT is actively striving to establish itself as a premier global battery enterprise, aligning its strategies with the zero-carbon vision by integrating new energy power and energy storage. Through continuous advancements and strategic initiatives, REPT is resolutely working towards its vision of becoming a leading player in the global battery market.