Asia
Ankura Intelligent Power Ties Up With Energy Storage Firm for Development of Solid-State Transformers
Jiangsu Ankura Intelligent Power (SHE:300617) signed an agreement with energy storage tech firm Suzhou Xingchen Waterfall Power Technology for the development of solid-state transformers or SSTs, according to a Shenzhen bourse filing on Wednesday.The parties will collaborate in developing an SST engineering prototype within 18 months, as well as establishing an SST patent portfolio and commercializing SST products.Ankura will provide 30 million yuan in commissioned research and development funding to Suzhou Xingchen.The Chinese smart power systems manufacturer's shares jumped 4% at the close.
SHE:300617
