- Global power storage market is projected to develop 15-fold by 2030.
- The 2nd Generation HoluEnergy-series power storage system is the primary and solely system able to economically addressing the Multi-Dwelling Unit Residential market by EnergyShare.
- HHE is a uniquely positioned chief within the Hawaiian market and is now getting into California and the just about untapped market within the United States.
SANTA CLARA, Calif., Nov. 04, 2022 (GLOBE NEWSWIRE) — Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a world supplier of 5G wi-fi, Internet of Things (IoT) options, and modern clear power, right now introduced its subsidiary, Holu Hou Energy (HHE), has rolled out its subsequent era HoluEnergy xP power storage system.
The HoluEnergy xP constructing on the main attributes of the HoluEnergy sequence product, particularly delivers:
- A a lot safer lithium ion battery chemistry, having larger inherent resiliency towards overtemperature and overcharging than some main manufacturers that use much less secure, extra flammable and better toxicity chemistries.
- More system energy – sufficient energy to allow properties to function their home equipment throughout an outage the identical approach they might if that they had utility energy.
- Greater system modularity – every system can assist 4 strings of PV and as much as 4 8.2kWh battery modules. Multiple techniques will be related collectively in a sharing hyperlink for even larger capability.
- Higher energy for every battery module, an important attribute for places the place battery subsidies and bonus packages exist.
- Energy management by the HHE Modular Energy Control platform.
- Integrated dwelling load management so each renewable power provide and cargo/utilization will be scheduled or optimized actual time with each other.
- Standard wired web connection, with non-compulsory WiFi or mobile communications.
- Better system conversion effectivity in comparison with “AC Battery” techniques, like these from Tesla.
- Faster set up occasions with an nearly 50% discount in wiring terminations.
- The trade’s solely single-family Residential power storage system economically viable for unlocking the Multi-Dwelling Unit Residential market.
Holu Hou Energy made historical past within the renewable power techniques market with the 2nd Generation HoluEnergy-series power storage for its photo voltaic system. The product is the primary system able to economically addressing the Multi-Dwelling Unit Residential market by EnergyShare, a singular software and benefit, enabling networked techniques to share extra era behind their respective utility meters. This has been a game-changer for enhancing the undertaking economics for the MDU market, together with for low-income housing, rental property models and Home Owners Association managed properties. EnergyShare permits extra power to be delivered to load, and fewer batteries needing to be put in than the usual strategy of unit-by-unit set up.
Holu Hou Energy continues to ship modern capabilities that allow prospects to attain the next degree of power independence. HHE is a uniquely positioned chief within the Hawaiian market and is now getting into California and the just about untapped market within the United States.
According to a current analysis report by BloombergNEF (BNEF), the worldwide power storage installations are projected to achieve a cumulative 411 gigawatts (or 1,194 gigawatt-hours) by the tip of 2030, 15 occasions the 27GW/56GWh of storage that was on-line on the finish of 2021. The anticipated accelerated development of the US market follows the passage of the Inflation Reduction Act in August 2022. Besides the United States, different largest energy markets on the planet such because the EU, China and India have all handed laws that incentivizes power storage deployments.
Ref. hyperlink:
https://about.bnef.com/blog/global-energy-storage-market-to-grow-15-fold-by-2030/
About Borqs Technologies, Inc.
Borqs Technologies is a world chief in software program and merchandise for the IoT, offering customizable, differentiated and scalable Android-based sensible related gadgets and cloud service options. Borqs has achieved management and buyer recognition as an modern end-to-end IoT options supplier leveraging its strategic chipset accomplice relationships in addition to its broad software program and IP portfolio. Borqs’ distinctive strengths embrace its Android and Android Wear Licenses which enabled the Company to develop a software program IP library masking chipset software program, Android enhancements, area particular utilization and system efficiency optimization, appropriate for giant and low quantity personalized merchandise, and can be presently in improvement of 5G merchandise for telephones and hotspots. The Company acquired controlling shares of the photo voltaic power storage system entity, Holu Hou Energy LLC, in October 2021.
About Holu Hou Energy, LLC
Holu Hou Energy, LLC, a Delaware Corporation, brings state-of-the-art renewable power and power storage techniques to the Single-Family Residential, Multi-Dwelling Unit Residential and Commercial constructing markets. With operations in California, Hawaii, Wisconsin and Shanghai, HHE engineers proprietary storage system and management platform options, together with a breakthrough “HHE Energy Share” expertise that’s key to improvement of the Multi-Dwelling Unit Residential housing market. HHE is a crucial accomplice for buyers and asset house owners which can be searching for ESG options. For extra data, go to www.holuhou.com.
To view a video clip of a lately accomplished HHE Multi-Unit Residential undertaking go to: https://www.youtube.com/watch?v=kakbynGM-fQ
Forward-Looking Statements and Additional Information
This press launch contains “forward-looking statements” that contain dangers and uncertainties that would trigger precise outcomes to vary materially from what is anticipated. Words reminiscent of “forecasts”, “expects”, “believes”, “anticipates”, “intends”, “estimates”, “predicts”, “seeks”, “may”, “might”, “plan”, “possible”, “should”, “estimates” and variations and related phrases and expressions are supposed to determine such forward-looking statements, however the absence of those phrases doesn’t imply {that a} assertion shouldn’t be forward-looking. Such forward-looking statements relate to future occasions or future outcomes, primarily based on presently out there data and mirror our administration’s present beliefs. Many elements might trigger precise occasions or outcomes to vary materially from the occasions and outcomes mentioned within the forward-looking statements, together with the chance that the optimistic monetary outcomes from business actions as described herein might not be reached or in any respect, and the destructive influence of the COVID-19 pandemic on the Company’s provide chain, revenues and general outcomes of operations, so the reader is suggested to check with the Risk Factors sections of the Company’s filings with the Securities and Exchange Commission for extra data figuring out essential elements that would trigger precise outcomes to vary materially from these anticipated within the forward-looking statements. Except as expressly required by relevant securities regulation, the Company disclaims any obligation to replace any forward-looking statements, whether or not because of new data, future occasions or in any other case.
Investor Contact:
Sandra Dou
Vice President of Corporate Finance
Borqs Technologies, Inc.
[email protected]
www.borqs.com
