SOLAR+STORAGE

Canadian Solar's CSI Solar and CATL Sign Battery Storage Strategic Cooperation Framework Agreement

Canadian Solar | November 26, 2021

Battery Energy
Canadian Solar Inc. announced that its subsidiary CSI Solar signed a strategic cooperation framework agreement with Contemporary Amperex Technology Co., Ltd., a global leader of new energy innovative technologies.

According to the agreement, CSI Solar and CATL will establish a strategic partnership to cooperate holistically in the areas of battery storage system solutions, supply of lithium-ion battery modules, operation and maintenance services of battery storage projects, and innovative renewable energy technology.

Tan Libin, CATL's Vice President, commented, "Global demand for battery storage is increasing dramatically under the backdrop of reaching net-zero emission goals. Our competitive advantage is on delivering highly innovative, efficient, competitive, and safe batteries across various applications, while Canadian Solar is an early mover and one of the key players in the global battery energy storage business. Our partnership with Canadian Solar is a perfect match and allows us to build on both our strengths."

We are delighted to partner with CATL to support the rapid growth of our battery storage businesses. The partnership leverages CATL's innovative battery storage technology and our global reach and experience to provide best-in-class battery storage solutions to our customers. We now have a global battery storage pipeline of 21 GWh, including 2.9 GWh under construction. Our common goal is to use solar and battery storage technology to support a cleaner, smarter and more reliable global grid, and do our part in contributing to the acceleration of the clean energy transition."

Dr. Shawn Qu, Chairman and CEO, Canadian Solar

About CATL
Contemporary Amperex Technology Co., Limited (CATL) is a global leader in new energy technology innovation, committed to providing premier solutions and services for new energy applications worldwide. In June 2018, the company went public on the Shenzhen Stock Exchange with stock code 300750. According to SNE Research, in the year 2020, CATL's EV battery consumption volume ranked No.1 in the world for four consecutive years. CATL also enjoys wide recognition by global OEM partners. To achieve the goal of realizing fossil fuel replacement in stationary and mobile energy systems with highly efficient electrical power systems that are generated through advanced batteries and renewable energy, and promote the integrated innovation of market applications with electrification and intelligentization, CATL maintains continuous innovation in four dimensions including battery chemistry system, structure system, manufacturing system and business models.

About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 20 years, Canadian Solar has successfully delivered over 63 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built and connected over 6.2 GWp in over 20 countries across the world. Currently, the Company has around 430 MWp of solar projects in operation, nearly 7 GWp of projects under construction or in backlog (late-stage), and an additional 17 GWp of projects in pipeline (mid- to early- stage). Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006.

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SOLAR+STORAGE

Major new initiatives to be launched at first ever Green Hydrogen Global Assembly

The Green Hydrogen Global Assembly | May 11, 2022

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PRODUCTS

CATL Launches Its First EVOGO Battery Swap Services in Xiamen

EcoFlow | April 19, 2022

On April 18, CATL officially launched its EVOGO battery swap services in Xiamen, southeast China's Fujian Province, making it the world's first EVOGO city. The first four fast battery swap stations that have started operation are located in Siming District, Huli District and Haicang District of Xiamen. The number of fast battery swap stations in Xiamen is expected to increase to 30 by the end of this year, when drivers at any place on Xiamen Island can find one such station within a radius of 3 kilometers. The EVOGO battery swap solution will enable EV consumers to bid farewell to the inconvenience of refueling, and allows consumers with no charging parking spaces to enjoy the fun of EV driving as well. At present, the special offer for renting one Choco-SEB block is RMB 399 per month, which will be dynamically adjusted according to different level of power consumption by users. For each battery swap service at the swap station, the charge is almost the same as that of the fast charging service, and it is subject to dynamic adjustment according to different station locations and time slots. CATL's EVOGO battery swap solution will provide more EV users with access to a convenient refueling experience. Contemporary Amperex Energy Service Technology Ltd. (CAES), a wholly-owned subsidiary of CATL, has achieved comprehensive win-win cooperation with multiple partners by implementing its city partner plan. All parties involved have joined forces to cooperate in technology, resources and services to facilitate the construction of battery swap network and promote EVOGO vehicle models in Xiamen. In the future, CATL will join hands with more partners to release more EVOGO vehicle models and deliver EVOGO services in more cities. Let's go with EVOGO.

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ENERGY

Bloom Energy Names Rick Beuttel as Vice President, Hydrogen Business

Bloom Energy | January 11, 2022

Bloom Energy Corporation announced the appointment of Rick Beuttel as vice president, hydrogen business. In this newly created role, Beuttel will spearhead the company’s commercial hydrogen strategy and will forge key partnerships to advance and scale Bloom’s efforts to enable the global hydrogen economy. Beuttel brings over three decades of experience in business development in the energy and industrial sectors, including extensive work deploying and scaling hydrogen projects across international markets. Beuttel will help define Bloom’s market strategy, serve as an evangelist for emerging hydrogen solutions, and develop relationships with industry leaders to continue momentum around Bloom’s hydrogen technology. Following the launch of its solid oxide, high temperature electrolyzer in July 2021, Bloom Energy collaborated with organizations across the energy sector to accelerate the global hydrogen economy, including projects to produce low-cost, green hydrogen and blend hydrogen into natural gas networks. On behalf of the entire leadership team, we are thrilled to welcome Rick to Bloom Energy, especially as we enter 2022 with such strong momentum. With an impressive track record as a global energy leader, Rick will help us actualize our vision for the future of energy, driving new collaborations and scaling technologies that make a hydrogen-fueled economy a reality.” Sharelynn Moore, executive vice president and CMO, Bloom Energy Before joining Bloom Energy, Beuttel served as vice president of business development at Air Products, overseeing the development and execution of large-scale energy projects, largely focused on hydrogen throughout the Americas. During this time, he was responsible for the deployment of over $8 billion of capital, including world-scale hydrogen projects in Eastern Louisiana, Edmonton, Alberta, the acquisition of hydrogen plants from PBF Energy, and other projects centered around hydrogen and synthesis gas production. “Between its groundbreaking technology and exciting collaborations with other major energy players, Bloom Energy is truly paving the way for the global hydrogen economy of tomorrow,” said Beuttel. “I’m proud to be joining a team at the forefront of the industry during such a pivotal moment, and I’m excited to advance Bloom’s mission of providing cost-effective, reliable energy for everyone around the world.” Beuttel held a number of senior roles across regions during his tenure at Air Products, including business manager for generated gases in the Americas, business development manager for Latin America, and business manager for Asia tonnage focused on the semiconductor and display industries. Early in his career, Beuttel also served as business development director for TRiMEGA Electronics, LLC, a joint venture with the Kinetics Group. Beuttel holds a bachelor’s degree in mechanical engineering from Stevens Institute of Technology and a Master of Business Administration from Lehigh University and is also chairman of the board of the Lehigh Valley Velodrome. About Bloom Energy Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. The company’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries.

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SUSTAINABILITY

Greenwave Technology Solutions Issues 2022 Chairman’s Letter

Greenwave Technology Solutions | January 14, 2022

Greenwave Technology Solutions, Inc. is pleased to issue the following letter to shareholders from Greenwave Chairman and Chief Executive Officer, Mr. Danny Meeks: Dear Greenwave Shareholders, I’m pleased to report that Empire Services, Inc., which Greenwave acquired last fall, generated more than $27 million in revenue during the year ended December 31, 2021, exceeding the $24 million annual revenue goal we set in September 2021. We aim to further accelerate our revenue growth this year by rapidly expanding our footprint of metal recycling facilities. Our 11th location opened in Virginia Beach in mid-October 2021 and is just now starting to meaningfully contribute to our overall metal volumes and revenues – and we expect by that later this year, our Virginia Beach location will have grown into one of our busiest and most profitable locations. By the end of January, we expect to open our 12th location in Fairmont, NC, for which we’ve already secured the licenses and permits, and is the first of many scrap metal facilities that we plan to open or acquire this year. Earlier this week, BlackRock, Inc. disclosed it had accumulated 5.3% of the outstanding ordinary shares of Sims Metal Management[1], the parent company of our largest customer, following BlackRock CEO Larry Fink’s assertion that the next 1,000 companies that will reach a billion-dollar valuation will be focused on green hydrogen, green agriculture, green steel, and green cement. The scrap metal industry is ripe for a roll-up as it will likely result in a significant margin expansion as we enter into what Goldman Sachs called a “commodities supercycle”. As a public company with 31,000 shareholders, Greenwave is positioned to move quickly and aggressively to roll-up independent, profitable metal recycling facilities as a pure play on green steel. We are in the final stages of preparing our formal application to uplist Greenwave to the NASDAQ or NYSE, as we believe a listing on a national exchange would result in a significant increase in visibility, liquidity, and institutional interest for our stock. We have had discussions with many potential board members, all experts in their respective fields, and we expect to begin expanding our board in the coming weeks with seasoned, respected leaders who will help take our company to the next level. Further, we believe Greenwave can meet the listing standards of a national exchange without any additional capital raises. In a January 11, 2022 Research Report, “Metals Watch: Aligned for the next leg higher,” Goldman Sachs raised its price targets for aluminum, copper, and zinc, driven by depleted inventories, robust demand, and inflationary pressures. In this context, we believe now is the optimal time for a roll-up of metal of recycling facilities. Demand for prime metallic scrap is expected to increase by approximately 41% from current levels to 29.6 million gross tons by fiscal year 2025. At the same time, the supply of prime steel scrap has been shrinking consistently for more than 50 years, according to a Steel Research Associates, LLC Scrap Model. Greenwave’s management believes that this supply/demand imbalance will continue to cause rising prices for scrap metal for at least the next 5-7 years. It is also important to note the significant environmental benefits of recycling steel. Unlike plastics and other materials, steel is able to be melted and re-cast countless times as it has no structural memory. Recycling steel, rather than using virgin materials, cuts CO2 emissions by approximately 75% while utilizing approximately 70% less energy. Currently, two out of every three tons of steel produced comes from recycling, up from one out of every ten tons in 1980. Greenwave’s management has set aggressive expansion and revenue goals for the coming year as we begin rolling-up independent, profitable metal recycling facilities. With a significant supply/demand imbalance for recycled steel expected to continue through at least 2025, we believe prices for metals will continue to remain strong for the foreseeable future – especially with many projects under the recently passed Infrastructure Investment and Jobs Act beginning construction. I am incredibly grateful to both our long-term and new shareholders for their continued trust in my leadership as we look to maximize shareholder value and take Greenwave to the next level.

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