Towngas, CATL partner to achieve green zero-carbon industry

This is in line with China’s dual carbon goals.

The Hong Kong and China Gas Company Limited (Towngas) has partnered with the Contemporary Amperex Technology Company Limited (CATL) to contribute to attaining China’s dual carbon goals.

In a cloud agreement signing, held on 6 July, Towngas and CATL agreed to launch collaborations in energy internet construction, energy storage solutions, and energy storage business amongst others.

“The timetable towards the country’s dual carbon goals stipulates a tight schedule and considerable scope of work,” Chairman of Towngas Lee Ka-kit said.

“Thus, the upstream and downstream units of the energy industry chain must work in synergy and innovate technologically to help drive its accelerated green transformation.”

Towngas and CATL will also establish a joint venture, whose resources will be allocated to build an energy technology innovation enterprise. It will comprise energy storage technology, integration service provision, integrated smart energy solution provision, and project operation.

Moreover, through various capital cooperation, the two companies will invest in the zero-carbon smart industrial park, funded and established by Towngas.

Jointly, Towngas and CATL will pursue the research, development, implementation, and large-scale market applications of advanced energy storage technology to contribute to transforming China’s socioeconomic energy structure.