Zhuhai Zhengling Holdings signed a cooperation agreement with Shenzhen Megarevo Technology on Sept 9 to fund the construction of Megarevo's energy storage system manufacturing base in Zhuhai, Guangdong province.

Representatives sign an investment‑cooperation agreement at a signing ceremony. [Photo/WeChat account: zhxiangzhou]

Shenzhen Megarevo Technology, a national-level specialized and innovative "little giant" enterprise, focuses on the R&D and manufacturing of energy storage inverters and ESS solutions. It has developed proprietary core technologies such as grid-forming PCS and fully modular PV-storage inverters, with products covering residential, commercial and industrial, microgrid, and power-side applications.

The project has a total planned investment of 300 million yuan ($ 44.73 million). The first phase will consist of a 14,000-square-meter ESS production base, which is expected to generate an annual output value of 400 million yuan upon full operation. The project will further strengthen the development of district's new energy industry cluster.

In recent years, Xiangzhou has been developing the new energy storage sector based on its existing industrial foundation, attracting high-quality market players through targeted industrial chain investment. An official from Xiangzhou's science and investment promotion center said the district will provide comprehensive support throughout the project's construction and operation, helping strengthen the local energy storage industry and foster new quality productive forces.