Sunamp has signed an agreement at COP26 to collaborate with Thumos to expand sales of thermal batteries into residential and commercial markets in China.
EDINBURGH, SCOTLAND, November 4, 2021 /EINPresswire.com/ — Sunamp has signed an agreement during Energy Day at COP26 to collaborate with Thumos to expand sales of its high energy density, high power density thermal batteries into residential and commercial markets in China.
The memorandum of understanding is expected to lead to £50 million in sales for Sunamp over the next five years and to lead to the establishment of a Sunamp manufacturing facility in China. The thermal storage company, which has its global headquarters and manufacturing facility in Scotland, is already active in 17 countries worldwide. The company recently opened its first factory under licence in Korea.
Sunamp and Thumos have already committed to work together roll out 400 Heat Batteries into high-end apartments of the prestige Hitime projects in Shanghai and into a large pipeline of projects across China.
Sunamp compact thermal storage products use the company’s Plentigrade patented phase change material formulation, which stores 4x more energy than water, to reduce energy consumption and carbon emissions associated with heating and cooling in buildings.
Sunamp chief executive Andrew Bissell said:
“Ahead of the United Nations climate summit, China’s State Council declared the share of non-fossil fuels in the country’s energy consumption will increase to 25 per cent by 2030, that’s nine percentage points higher than it was in 2020. Our products have a role to play in that transition by increasing the efficiency of renewables and we are excited by the opportunity to collaborate with Thumos to significantly expand our sales in China.
“Together we will continue to develop and commercialise innovative low carbon systems for heating and cooling, including electric water heater products and air-source heat pump water heater products based on our Plentigrade phase change material.”
Mr Chengyong Kang, founder and CEO of Thumos, said:
“Thumos is excited to sign the strategic cooperation agreement with Sunamp, which also signifies the beginning of in-depth cooperation between China and UK in the commercialisation of PCM thermal energy storage. Thumos is committed to promote the sustainable development of renewable energy and environment in a digital way, to utilise the off-peak power and waste heat through residential and commercial projects, helping to achieve China's carbon neutral goal and promoting the green and low-carbon transformation of global energy. Our collaboration with Sunamp will accelerate the pace of commercial expansion in the Chinese market and lead the development of a broader green energy market."
Source: EIN Presswire