Entering 2024, a buzzword began to appear frequently in the energy storage industry: sodium-ion batteries. More and more industry insiders are convinced that sodium-ion batteries will replace the current mainstream lithium-ion batteries in the future and become a new industry trend. The reason is simple, because sodium-ion batteries have better thermal stability and safety, are more environmentally friendly, and have lower costs. According to a report by market research company QYResearch , the global automotive sodium-ion battery market is expected to reach US$3.13 billion in 2030, with a compound annual growth rate of 37.3% in the next few years. The demand for sodium-ion batteries in the Chinese market is expected to reach 32.9GWh in 2025, corresponding to a market space of approximately 20.37 billion yuan; it is expected that by 2027, the demand for sodium-ion batteries in the Chinese market is expected to reach 137.3GWh, corresponding to a market space of approximately 82.4 billion yuan, in 2023 -CAGR will reach 141.3% in 2027. South Korean market research agency SNE Research also recently released a report predicting that China's sodium-ion batteries will be officially put into mass production in 2025 and will be mainly used in two-wheeled vehicles, small electric vehicles and energy storage fields. It is expected that by 2035, the price of sodium-ion batteries will be 11% to 24% lower than that of lithium iron phosphate batteries, and the market size will reach US$14.2 billion per year. China has already begun to launch two-wheelers and electric vehicles using sodium-ion batteries. A new company established by China's leading electric motorcycle companies Yadea and Huayu Energy will launch the electric motorcycle "Jina S9" model at the end of 2023; in January 2024, Chinese electric vehicle brand JAC began sales using Zhongke Hina 32140 Huaxianzi electric car with cylindrical sodium-ion battery. It is expected that by 2035, the annual production capacity of sodium-ion batteries planned by Chinese companies is expected to reach 464GWh. In February 2024, the Chinese Academy of Sciences once again broke good news and officially announced a new breakthrough in the energy density of sodium-ion batteries! So far, a sodium-ion battery with an energy density of more than 500 Wh/kg has been successfully developed, which is twice as high as the current lithium-ion battery. This is likely to mean a major new breakthrough in automotive power batteries.
In the field of energy storage battery industry, East Group has also achieved important results. He Simo, founder and chairman of the board of directors of East Group, said that the company's sodium battery company was officially put into production in June 2023. It has now achieved mass production of sodium-ion battery cells, and continues to accelerate the research and development and production of sodium-ion battery products, and is committed to promoting the development of sodium-ion batteries in the industry. Applications in new energy storage and other fields.
Figure: Founder of East Group He simo
Compared with the lithium-ion battery products currently used in the market, sodium-ion battery products have many irresistible unique advantages:
First, sodium is abundant in resources and is easier to obtain than lithium, so the material cost of sodium-ion batteries is lower.
Second, compared with lithium, sodium resources are widely distributed and will not be affected by geopolitical and supply chain issues, and the industrial chain and industry prices are more stable.
Third, compared with lithium-ion batteries, sodium-ion batteries have better thermal stability and safety, and the products are safer to use.Sodium-ion batteries have better low-temperature performance and can meet the market demand in high-latitude and low-temperature areas.
Obviously, the mass production and launch of sodium-ion battery cells will promote the upgrading and development of the energy storage industry chain, and will also inject new impetus into the development of East Group in the energy storage industry.
East Group has been deeply involved in the new energy industry for many years, and its products cover multiple sectors such as wind power, photovoltaic, new energy storage and charging piles. In order to meet market demand and adapt to market development needs, East Group continues to increase investment in R&D and innovation. In addition to sodium-ion batteries, it has also achieved outstanding results in other new energy fields.
For example, for all application scenarios such as energy storage power generation, grid, user, and microgrid, East Group takes the "4S" of its full-stack self-developed battery management system (BMS), energy management system (EMS), energy storage inverter (PCS), and coordination controller (PMS) as the core, connects the entire energy storage industry chain, realizes a high degree of integration of energy storage systems, and has launched diversified energy storage system solutions such as container-type, outdoor cabinet-type energy storage, immersion liquid-cooled energy storage, and manufacturing energy storage.
It is worth mentioning that the immersion liquid-cooled battery system launched by East Group is leading the industry and has been applied in many large-scale energy storage power stations. It may become a new growth point for East Group's revenue. The system uses intelligent temperature control to accurately control the temperature of the battery cell to avoid thermal runaway caused by excessive local temperature. The coolant blocks the contact between the battery cell and the air, avoiding the risk of battery cell failure and fire from the root, ensuring the safe and reliable operation of the battery system. The heat exchange per unit flow can reach 3.5 times that of the air-cooled system, which can extend the battery system life by 10%, increase the energy density per unit area by 140%, reduce the auxiliary refrigeration power consumption by 30%, and greatly save operating costs.
In addition, in the field of photovoltaic storage and charging integration, the photovoltaic storage and charging intelligent operation and maintenance cloud platform developed by East Group has also been widely used. The platform uses big data AI technology, combines the historical operation big data of photovoltaic, energy storage and charging pile sub-platforms, and performs intelligent AI computing power control based on real-time weather, charging demand and other data to maximize the photovoltaic power generation of charging stations, reduce the operating costs of charging stations, greatly improve the operating efficiency of charging stations, meet the income needs of charging pile investors, and enable green and low-carbon development.
Mr. He revealed: "Currently, East's photovoltaic products serve the five major and six small leading enterprises in the power industry; large energy storage products serve large energy storage power stations of China Southern Power Grid, State Grid and other enterprises. Industrial and commercial energy storage products have been sold in Guangdong, It has been widely used in Zhejiang, Shanghai, Xinjiang and other provinces, and exported to Southeast Asia, Western Europe, etc.; the charging pile products have been widely praised by leading companies such as Sinopec and PetroChina.”
The independent battery energy storage station on the Baotang grid side of China Southern Power Grid, which was officially put into operation recently, is one of the important success stories. This project is China Southern Power Grid’s largest independent energy storage demonstration project in Guangdong and the largest new energy storage power station in the Guangdong-Hong Kong-Macao Greater Bay Area. Easy Group undertook the equipment integration of the immersed cabin-level management liquid-cooled energy storage system. The energy storage battery system and power conversion system both adopted the outdoor container immersed liquid-cooling layout plan, providing the project with the latest product technology solutions in the industry to ensure the project Smooth and fast construction and safe and reliable operation have been highly recognized.
At present, all countries in the world have reached a consensus that vigorously developing the new energy industry and replacing traditional fossil energy with green and clean energy is the most effective way to address the problem of global warming. In terms of current technology and development, solar energy and wind energy are the two most mature and convenient clean energy sources. China's large-scale application of solar energy and wind energy has promoted the rapid development of China in the three fields of solar energy, wind energy and energy storage. It now has the world's most mature supply chain system and the most advanced technology.
In terms of future market demand, the development of China's new energy industry has received strong support from national policies, which has promoted the rapid development of the new energy industry. The Chinese government has paid great attention to and supported new energy technology research and development, equipment manufacturing, and infrastructure construction, providing a broad market space for the new energy industry. At the same time, China's huge domestic demand market and rising consumer demand have also provided huge market demand for new energy products.
In overseas markets, Chinese new energy products and technologies have shown strong competitiveness in the international market. Chinese suppliers have certain technical advantages and industrial scale in the fields of solar energy, wind energy, energy storage, etc., and can provide high-quality, cost-effective products and services to overseas markets. With the increasing attention paid by countries around the world to environmental protection and sustainable development, the introduction of new energy industry policies by governments of various countries, and the large-scale promotion of various power-consuming products including new energy vehicles, the overseas new energy market is also expanding, providing more growth opportunities for Chinese suppliers.
Of course, China's new energy product suppliers and scientific research institutions are still exploring and making further efforts in the following three aspects to improve the competitiveness of Chinese products and strive to form "new quality productivity" in the new energy industry.
The first is new material technology: using new material technology, such as high-performance battery materials and lightweight materials, to improve the energy efficiency and performance of new energy products such as wind turbines, photovoltaic modules and energy storage equipment. For example, the use of advanced sodium-ion battery materials can significantly improve the cycle life and temperature tolerance of the battery, thereby enhancing the competitiveness of the product.
The second is to develop Internet of Things and big data technology: By applying Internet of Things and big data cloud computing technology, functions such as remote monitoring, fault warning, fault diagnosis and data analysis, and remote operation and maintenance of products can be realized. This can not only improve product reliability, security and system efficiency, but also provide users with more personalized services.
The third is to develop advanced manufacturing technology: adopt advanced manufacturing processes and equipment to improve the manufacturing accuracy and efficiency of products. For example, the use of automated production lines and intelligent manufacturing technology can reduce production costs and improve product quality.
Mr. He believes: "To achieve sustainable development, we must maintain strong competitiveness in the new energy industry. The future competition in the new energy industry is the competition of the ecological chain, and the test is how companies can achieve the optimal configuration of the ecological chain. In the supply chain, the test is not only the quality of delivery, but also the speed of delivery, etc."
Indeed, in the face of the current profound global political and economic changes, in order to survive in the market and achieve sustainable development, we must choose to embrace the best ecological chain, strive to become a high-quality link in the ecological chain, gather the strength of the entire ecological chain, and build a sustainable and more competitive ecological chain system.
Mr. He emphasized that this year is the 35th anniversary of the establishment of East Group, and it is another new starting point towards "a century-old enterprise? a century-old brand". The company currently has a large number of photovoltaic, energy storage, charging pile and other projects that are accelerating, and a large number of projects are actively seeking supply chain partners. The company will continue to adhere to an open and inclusive mentality, and looks forward to working with more outstanding partners to build a highly competitive supply chain system in the industry, continue to innovate and optimize ecological cooperation, and achieve mutual benefit and symbiosis.
At present, new technologies in the new energy industry such as wind and solar storage and charging, hydrogen energy, ocean energy, tidal energy, geothermal energy, and air energy storage are booming around the world, and industrial technology innovations are emerging one after another. The entire new energy industry is expected to become the main theme in the next 30 years, with a trillion-level market size waiting for everyone to develop every year.
In the future, East Group will strive to become bigger and stronger in the new energy industry. Mr. He said: "East Group will continue to adhere to innovation-driven, strengthen research and development, refine products, expand the market, and provide good services. It will continue to make breakthroughs in the field of 'new energy + energy storage', promote the accelerated development of new quality productivity, and contribute more East Group strength to the construction of economic society and ecological civilization."
Note: Mr. He will deliver a keynote speech at the [2024 Greater Bay Area Digital Energy Industry Development Summit Forum] held in Hall 7 of Shenzhen Futian Convention and Exhibition Center on April 15, 2024. If you want to experience Mr. He’s style in person and Mr. He discusses future business plans. You can scan the QR code below to register for the meeting, or register for the meeting by adding the WeChat ID of the author of this article jakechenlu.
About EAST Group:
EAST Group (stock code: 300376) was founded in 1989 and successfully listed on the Shenzhen Stock Exchange in 2014. It was once a holding subsidiary of a Fortune 500 company. It is now a demonstration enterprise for the mixed reform of state-owned and private enterprises in Guangdong Province. It ranks among the top 500 new energy companies and top 100 innovative companies in the world. It is a leading UPS power supply company, a key high-tech enterprise in the National Torch Program, a national technology innovation demonstration enterprise, a national intellectual property demonstration enterprise, and a national green factory. It has won the "National May 1st Labor Medal" and has 268 marketing and service centers worldwide, covering more than 100 countries and regions.
The Group continues to delve into the two major areas of industrial digitalization and "new energy + energy storage", and is mainly engaged in smart power supplies (UPS/EPS, electric power supplies, communication power supplies,
The company's three strategic business segments include high-voltage DC power supply, special power supply, battery system, power gateway and cloud management platform, etc.), data center (modular data center, container mobile data center, industry customized data center, intelligent power distribution, dynamic environment monitoring system, precision air conditioning, etc.) and new energy (energy storage system, PCS, EMS, BMS, sodium/lithium battery cells and PACK, photovoltaic inverter, wind power converter, charging pile, battery exchange cabinet, air energy heat pump, energy gateway and cloud management platform, etc.). It is an excellent listed company in digital energy products and wind, solar, storage and charging solutions.
The group's products and solutions have been successfully used in the power supply systems of major engineering projects such as the Beijing Winter Olympics, the Qinghai-Tibet Railway, the first driverless subway in the United States, Beijing S1 Line, Daxing International Airport, the construction of the main distribution network of the State Grid and the Southern Power Grid, and battery nuclear power. Rong, Huaneng Wenchang gas power plant power supply system construction, G20 Summit, the 27th United Nations Climate Change Conference, the Hong Kong-Zhuhai-Macao Bridge, Italian national power company Enel, domestic and foreign first-tier brand new energy vehicle charging station network construction, etc., serving the national energy , State Power Investment, Datang, Three Gorges, Huadian, CNNC, State Grid, China Southern Power Grid, Sinopec, PetroChina, CNOOC, Guangdong Energy, Changji State Investment, Zhejiang Communications Investment, Guilin Communications, Hubei Communications Investment and other "Five Big and Six Small"" "Two Networks" and "Three Barrels of Oil" and local energy companies, as well as Tencent, Baidu, Alibaba, GDS, IBM, China Mobile, China Telecom, China Unicom, China Tower, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China and other key client.
