Recently, CALB has established a new subsidiary with a registered capital of 2.8 billion yuan.

According to Qichacha, CALB Technology (Xinyang) Co., Ltd. was founded on November 27. The company is jointly held by CALB and Xinyang Yudongnan Industrial Investment Co., Ltd., with shareholding ratios of 65% and 35% respectively. Among them, Xinyang Yudongnan Industrial Investment Co., Ltd. is a state-controlled enterprise.

With a high registered capital of 2.8 billion yuan, the new company is located in Huangchuan County, Xinyang City, Henan Province, and its business scope includes new material technology research and development, new material technology promotion services, battery manufacturing, battery sales, etc.

Recently, CALB has accelerated its energy storage layout. According to statistics from EnergyTrend, on December 1, Nuode Co., Ltd. issued an announcement stating that its grandchild companies Huizhou Nuode Shengshi and Nuode Zhihui Xinchuang Energy plan to jointly invest in and establish an industrial fund with CALB Smart Energy and Kaibo (Hubei) Private Equity Fund Management Co., Ltd., and have signed a partnership agreement.

The fund has a scale of 400 million yuan and will focus on investing in independent energy storage, industrial and commercial energy storage, as well as solar-storage-charging zero-carbon park projects.

Among the investors, CALB Smart Energy Technology Co., Ltd., a wholly-owned subsidiary of CALB, will contribute 199 million yuan as a limited partner (LP), accounting for 49.75% of the fund; Shenzhen Nuode Zhihui Xinchuang Energy Co., Ltd. will also contribute 199 million yuan as an LP, accounting for 49.75%; Kaibo (Hubei) Private Equity Fund Management Co., Ltd. will contribute 1 million yuan as the fund manager/general partner 1 (GP1); and Huizhou Nuode Shengshi New Energy Co., Ltd. will contribute 1 million yuan as GP2.

Source：EnergyTrend