NaaS Forms Strategic Partnership with Tengzhou Municipal Government, Shandong to Develop Green Transportation Energy

25 September 2023

On September 16, at the 2023 Zaozhuang International Lithium Battery Industry Expo, NaaS (NASDAQ: NAAS), the first U.S. listed EV charging service company in China, signed a strategic cooperation agreement with the People's Government of Tengzhou City of Shandong Province. This agreement encompasses a wide range of collaborative efforts, including the operation of charging stations, the development of a versatile "source-grid-load-storage" system, fostering innovative businesses, and the digitization of energy management. It aims to foster collaboration in various sectors, including new energy infrastructure and low-carbon transportation energy systems, to support the region's transformation and upgrade of transportation energy.

Collaboratively, the two parties are dedicated to enhancing service quality across various dimensions, including charging service product management, station operations, and customer engagement. The goal is to craft a distinctive public charging network operation brand that embodies the unique features of Tengzhou. Meanwhile, leveraging the advantages of Tengzhou's lithium battery industry cluster, the parties will create a model "PV-storage-charging-inspection-service" integrated charging station to construct a multifaceted "source-grid-load-storage" electrical system that encompasses PV, energy storage, charging, battery swapping, and V2G capabilities. Such efforts will reinvigorate the dynamism of businesses along the entire industry chain, capitalizing on the synergy between "new infrastructure, new energy, and new industries," and fostering a cohort of pioneering enterprises in the field of new energy.

NaaS will also rely on digital technology to collaborate with Tengzhou City in establishing an integrated monitoring platform for electric vehicle charging piles. This platform will encompass the "user end, management end, and display end," creating a seamless closed-loop management process for charging services. Additionally, both parties will focus on urban energy digital management, constructing a city-level energy digital brain platform to develop a comprehensive monitoring, management, and service system for urban energy throughout its entire lifecycle.

At the same time, harnessing the distinctive features of Tengzhou's energy market, NaaS prioritizes the construction of new infrastructure projects in two key energy domains: "fueling" and "charging". As the parent company of NaaS, NEWLINKS integrates multiple energy sources, including oil, electricity, hydrogen, gas, PV, and a range of diverse industries such as dining, retail, and post-vehicle services. It not only offers energy supply facilities for motor vehicles but also provides users with a venue for energy experiences and commercial services. Supported by this initiative, NaaS will concentrate on developing a set of exemplary and scalable comprehensive energy hub projects based on the existing and future gas station plans in Tengzhou City. This endeavor will aid Tengzhou City in its efforts to be established as a model city for comprehensive energy services.

Within the domain of integrated PV-storage-charging services, NaaS installs distributed PV systems on carports and station structures, allowing for self-consumption of solar power. This not only boosts the utilization of renewable energy but also includes energy storage facilities of a specified capacity. Consequently, it lowers electricity expenses during peak hours, strengthens the capacity for renewable energy integration, and engages in peak-hour electricity trading and power support services, thereby reducing expansion costs and optimizing economic returns.

NaaS, a subsidiary of NewLink, successfully listed on NASDAQ on June 13, 2022, marking its position as China's first public EV charging stock. It offers an all-encompassing suite of services spanning the entire industry chain, including charging station siting consulting, software/hardware procurement, EPC, operation & maintenance, energy storage, PV, and automated charging robots. By June 30, 2023, NaaS' network has successfully connected with 652,000 chargers and 62,000 charging stations.; In 2023 Q2, NaaS' charging volume ran at 1.228 billion kWh, representing 21.7% of the national total.

As a subsidiary of NewLink, NEWLINKS serves as an energy asset operator, bringing together a variety of energy sources, such as oil, electricity, hydrogen, gas, PV, and a range of diversified industries like dining, retail, and post-vehicle services. It offers comprehensive one-stop energy services and is dedicated to creating a new lifestyle experience for vehicle owners. Additionally, NEWLINKS offers seven major empowerment strategies for gas stations, encompassing branding, traffic, digitalization, operations, supply chain, finance, and new energy. These initiatives help gas stations achieve comprehensive upgrades in branding, digitalization, and the integration of energy services. NEWLINKS has already partnered with Chevron, the second-largest integrated energy company in the United States, to introduce the dual-brand "Caltex-NewLink" gas stations.

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Sabrina Wang
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