Contemporary Amperex Technology Co., Limited (“CATL” 300750.SZ), a global leader in new energy innovative technologies, Hartree Partners, a global energy and commodities firm, and Cathay Fortune Corporation (“CFC”), an investment group in metals & mining and strategic emerging industries, announced today an agreement to establish a joint venture focusing on the development, ownership, and operation of energy storage infrastructures. The joint venture will operate under the brand name CHC Co. Limited.
“We are pleased to further expand our partnership with CATL and CFC,” said Ahmed Al-Awa, Managing Director and Head of Asia Pacific, Hartree Partners. “Through the development of a high-quality, multi-country, energy storage-focused platform, we believe CHC will be well positioned to play a meaningful role in energy transition.”
“We are looking forward to working together with Hartree and CFC,” said Jiang Li, Board Secretary of CATL. “Establishing this new platform is a key step to establish ourselves as a recognized player in the global energy storage business.”
“We believe that in establishing CHC, we can create a global offering, that harnesses the expertise of Hartree, CATL and CFC, in the energy storage industry,” said Mr. Yu, Chairman of CFC. “We look forward to creating value for all stakeholders through this partnership”.
About Hartree Partners
Hartree Partners is a global energy and commodities trading company, with decades of experience in the physical and financial energy and commodities markets. Hartree is at the forefront of finding investment solutions, consulting, and generating sustainable and commercially viable strategies for energy renewal and regeneration. The company has an extensive portfolio including midstream natural gas, oil assets, power generation, renewables, and environmental products. Hartree’s rigorous research, analytical approach, and entrepreneurial culture have contributed to its strong track record and growth. www.hartreepartners.com
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 the year 2021, CATL’s EV battery consumption volume ranks No.1 in the world for five consecutive years, and it ranks first in the market share of global energy storage battery production. CATL also enjoys wide recognition by global EV and energy storage 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 material and electrochemistry system, structure system, green extreme manufacturing and business models.
About CFC
Cathay Fortune Corporation (“CFC”) is an investment group in metals & mining and strategic emerging industries with portfolio assets in Asia Pacific, North America, South America, Europe and Africa. CFC is the controlling shareholder of China Molybdenum Co., Ltd (“CMOC” 603993.SH/3993.HK), a global leading mining company which is dual listed on the Shanghai Stock Exchange and the Stock Exchange of Hong Kong. CFC’s mission is to adhere to fair and ethical business standards and maximize all stakeholders’ value.
