Who is Behind this CSE Company’s Revolutionize the Global Battery Market? | Electric Vehicle Batteries Technology (CSE:ACDC)
In October, the Canadian small cap markets saw the entry of a new clean technology company that promised to revolutionize the growing battery and electric vehicles industries. Armed with a massive patent portfolio and using the latest in artificial intelligence, Electric Vehicle Batteries Technology Corp., burst onto the Canadian Securities Exchange with a mountain of investor interest, averaging daily trading volumes in the millions.
ACDC is on the path to developing and commercializing a suite of battery management technologies that will revolutionize the Energy Storage Systems and electric vehicle market while also leading the battery industry with battery recycling technology. With an exclusive partnership with one of China’s top battery technology companies, ACDC will be targeting the global market, including North America, South America, Africa and Europe to deploy its technology.
But who is behind this technology?
China currently dominates the global battery supply chain. As western countries, particularly the US, has clung to the oil and gas paradigm, China has invested heavily in the electrification of its economy, leading it to be one of the most aggressive adopters of electric vehicles in the world. China manufactured and sold about 1.2 million plug-in electric vehicles in 2018, which was more than three times the sales in the US.
More importantly, the world’s biggest maker of electric-car batteries, and a supplier for Tesla, is a Chinese company that owns 27.9% market share.
Coming from the world’s largest battery market, ACDC has partnered with Jiangsu RichPower New Energy Co. Ltd., a preeminent battery technologies developer. We sat down with Jingke (Jack) Han, president and CEO of RichPower to get a better picture about their technology and explain what they hope to achieve with their partnership with ACDC.
1. We, in Canada, are very fascinated with the leaps and bounds that China is taking in the development of clean power, AI and battery technology. Why do you think China has been so successful in this area of technology?
With the rapid development of China’s economy and increasing environmental pressure, China’s demand for clean energy becomes more urgent. As far as the battery field is concerned, China’s current production capacity and applications are among the top in the world, so there is a huge amount of application data. Because of the increase in applications, the occurrence of problems, and the participation of many scientific and technological talents, the corresponding technology therefore is developed rapidly, such as our company’s battery AI operation and maintenance technology.
2. Tell us about Jiangsu Richpower. The company has a very impressive client list. How was the company formed and who are the people responsible for its success?
Richpower started doing lithium ion battery management system as early as 2010, and it has been the focusing field all these years. It first engaged in electric tools and electric bicycles, then into base station backup in 2011, electric vehicles in 2015, and R&D for large-scale energy storage in 2015. The company currently has 250 employees, among them 70 are R&D personnel. This year, 400,000 sets of products will be shipped in the field of base station backup power, 700,000 sets of shared electric bicycles, and a contract of 87 MW is signed in the energy storage field, and so on. At present, the company’s technical core team includes: CEO Han Jingke; Dr. Zhao, a Ph.D. of Harbin Institute of Technology, who engaged AI application in lithium ion batteries as early as 2009; Professor Lv, a professor at Harbin Institute of Technology, who started the establishment and research of electrochemical models as early as 2010.
3. How were Richpower’s over 70 patents developed?
Because the company’s CEO Han Jingke has an incomparable passion for technology. With an education background in electrochemistry and Integrated circuit chip, he has been directing the technology development on to the pain points from application, focusing on problem solving, and generating new methods and technologies in solving problems. For example, the research on the safety of lithium ion batteries has led to the innovation of using artificial intelligence.
4. Could you tell us about some of your major clients? Are they customers or are they long term license contracts?
The company’s main customers include Huaneng Group, State Power Investment, State Grid, Shanghai Electric, Didi, Meituan, etc., and have long-term strategic cooperation with these customers.
5. What is Richpower’s strategy to grow its business in China?
For the Chinese market, based on the established advantages in product technology and customer, the company will strive to be the first brand in China in the fields of 5G backup BMS, shared bicycle BMS, energy storage systems with intelligent operation and maintenance, ports, mining and other engineering vehicle battery packs, as well as old battery reuse
6. How about overseas? What markets do you see your technologies finding success in the West?
The overseas market is still at the beginning stage, we will rely on our partners, mainly focus on the fields of energy storage systems with intelligent operation and maintenance, ports, mining and other engineering vehicles battery packs, and reuse of old batteries. According to the actual market circumstances, cooperate with our partners with good technical development and product support, and achieve success together in the above market fields.
7. We see that working with Extreme Vehicle Batteries Technology Corp. will be instrumental in capturing the global market opportunity for Richpower’s technology portfolio. How were you able to meet this group and structure this international partnership?
As you said, Extreme Vehicle Batteries Technology Corp (ACDC) is critical for Richpower’s technology to gain access to global market opportunities. It is the bridge and link in our partnership’s global strategy. We also work with our majority owned subsidiary, IBT, that is assisting in supporting our entry in the global market with ACDC. Richpower provides the basic technology platform, and through working with ACDC, we will identify the business needs and pain points in various international markets and develop products and services suitable for the needs of the market. ACDC is also critical in promoting and selling these products and services while IBT will provide service and support.
We would like to thank Jingke Han, CEO of Jiangsu Richpower, for taking the time to answer some of our questions.
“Disclaimer: The company described in this article is a customer of NAI Interactive Ltd. This material is for informational purposes only and is not intended as a recommendation or offer or solicitation for the purchase or sale of any securities or financial instruments, or for transactions involving any financial instrument or trading strategy.”