Quino Energy wins Tencent CarbonX grant for MWh-scale organic flow battery microgrid in Maldives

Product / TechCorporate Action
โดย GlobeNewswire·Read original
Summary · why it matters

Quino Energy has been selected by Tencent for a grant under its CarbonX program to fund a MWh-scale organic flow battery system on Himandhoo Island in the Maldives. The battery will be integrated into a larger microgrid that includes a floating photovoltaic array financed by the Asian Development Bank and will complement the ongoing POISED project installing terrestrial PV and lithium-ion batteries on the island. The project aims to slash the island's reliance on imported diesel, with Atri Energy Transition manufacturing the proprietary organic electrolyte in Pune, India, and providing operations and maintenance for at least five years, while Suqian Time Energy Storage supplies the flow battery hardware and Sinosoar handles installation and integration. This marks the first commercial deployment of Quino's organic flow battery technology, following a Series A round led by Atri Energy Transition, a $10 million grant from the California Energy Commission, and $5 million from the U.S. Department of Energy's CiFER program.

Impact on stocks 1

Digital Finance & Tokenization▲ · 1 stocks
Tencent Holdings Ltd
0700
▲ PositiveCapitalrelevance

Tencent's CarbonX grant funds a clean energy project, enhancing its ESG profile.

Theme Impact 1

Off-coverage companies 4

Quino EnergyPrivate▲ Positive
Technologyrelevance

First commercial deployment of Quino's organic flow battery technology, validating its product.

Atri Energy Transition Private LimitedPrivate▲ Positive
Demandrelevance

Atri Energy Transition manufactures the electrolyte and provides O&M, gaining commercial deployment.

Sino Soar Hybrid (Beijing) Technology Co., Ltd.Private▲ Positive
Demandrelevance

Sinosoar handles installation and integration, securing a project contract.

Suqian Time Energy Storage Technology Co., Ltd.Private▲ Positive
Demandrelevance

Suqian Time Energy Storage supplies flow battery hardware for the project.

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