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ViZn Energy Systems Announces Strategic Alliance with WeView Energy to Enter China
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2019-01-09 13:02:17
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ViZn Energy Systems Announces Strategic
Alliance with WeView Energy to Enter China
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PRESS RELEASE
COLUMBIA FALLS, Montana - January 9th, 2019 - ViZn Energy Systems, Inc. ("ViZn")
announced today that the company entered into a strategic alliance with WeView
Energy that includes a minority equity investment, a China licensing agreement,
and a mutual commitment to exclusively pursue the China utility scale storage market
with ViZn technology.
WeView Energy Systems is a four-way joint venture between Hasen Electric, Shanghai
Lingxin (controlled by Jingyi Electrical), Intelion and Jiangxi Lelai. WeView is
a strategic partner with PowerChina's wholly owned subsidiary Jiangxi Electric Power
Construction Corporation (PowerChina JEPCC). PowerChina is a state-owned enterprise
with 2017 revenues exceeding $53 billion. Together, the local partners bring together
engineering, manufacturing, service and construction capabilities for the growing
China market.
"We have been looking for game-changing technology like ViZn's for a long time.
Every year, PowerChina builds gigawatts of renewable energy projects, all of which
require a reliable, 20-year, energy storage solution." said WeView President, Ms.
Ge Yuhua. "PowerChina JEPCC's design institute has been working with the ViZn and
WeView teams to prepare for the China sited demonstration projects in China."
The partners behind WeView bring deep reach into their national market. Hasen Electric
and Jingyi Electrical are each leading manufacturers of utility scale power conversion
equipment and switchgear. Intelion specializes in development of state-of-the-art
green technologies and renewable projects globally. PowerChina JEPCC is an integral
part of PowerChina, the Fortune 200 company, which has executed over 1100 major
infrastructure projects in 110 countries and is ranked #6 by ENR in terms of global
international contractors.
"The ViZn product is uniquely suited to support the integration of the thousands
of gigawatts of new wind and solar power to be installed globally over the coming
decades," said ViZn CEO John Lowell. "ViZn went looking for a strong set of partners
to access one of the largest markets in the world for grid scale storage. This agreement
comes at an ideal time as we have made great technical strides with our product
in 2018."
ViZn Energy's flow batteries experience zero capacity fade over 20 years and are
warranted for up to two cycles per day, giving them significantly more usable output
than competitive batteries. The zinc-iron chemistry uses globally abundant materials
and is non-flammable, non-toxic, and 100% recyclable at the end of its life.
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ViZn Energy Systems, Inc. | 5314 Hwy 2 West | Columbia Falls | MT | 599
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