Posted by Genetec A baby step > 2022-04-14 17:19 | Report Abuse

ES is as important as EV in the upcoming future.

In long term, most of civilization's energy is going to come from solar, and then you need to store it with battery because obviously the sun only shines during the day, and sometimes it is very cloudy. So you need solar batteries. That will be the main long-term way that civilization is powered.

We need battery to store the energy. This is the reason why we need to transform and have a better battery.

Someone's sitting in the shade today because someone planted a tree a long time ago. we need to invest and fix the issue but not leave it to our kids.

Posted by Genetec A baby step > 2022-04-14 17:21 | Report Abuse

I am looking forward for GENETEC to contribute on ES in near future.

Attached is the information I extract from CLSA initiation report


Energy storage is the next horizon

For the same customer(Customer T?), the group has also been engaged for its energy storage business. Details are still scarce at the moment and management said it will share more about it at a future date. The North American EV maker has a large-scale
energy storage solution that helps stabilise grids and prevent power outages,
eliminating the need for gas peaker plants. Each unit can store >3MWh of energy,
which is equivalent to powering an average of 3.6k homes for one hour.

Grand View Research estimates that the grid-scale battery-storage market size is
US$3.1bn in 2020. Grand View expects it to grow at a Cagr of 24% from 2020 to
2027 to US$15bn. It expects demand to be driven by the need to integrate energy
produced from renewable sources such as solar and wind power with the aim of
improving the stability, reliability and resiliency of the grid. This is also owed to a
rapidly decreasing cost for lithium ion batteries (84% of market in 2019), which
provide improved efficiency, energy density and a deep discharge cycle.