(Yicai) Sept. 18 -- Eve Energy's stock price soared after the Chinese lithium battery maker said a subsidiary has secured a major five-year order to supply batteries to Fluence Energy Global Production Operation, a Nasdaq-listed energy storage products and services giant.

After surging by as much as 7.9 percent in Shenzhen trading this afternoon, Eve Energy [SHE: 300014] finished 6.9 percent higher at CNY51.56 (USD7.70) per share. The stock is still down about 25 percent this year.

Hubei Eve Power, a wholly owned subsidiary, has contracted to deliver 16 gigawatt-hours of energy storage batteries to Fluence Energy next year and reserve another 190 GWh for handover in 2028 to 2031, its Huizhou-based parent company announced today, without providing further details.

Founded in 2001 as a lithium-ion battery manufacturer, Eve Energy has grown into a top-tier global supplier for electric vehicles and become one of the world’s leading producers of stationary, utility-scale energy storage units. Last year, the company shipped 71.05 GWh of energy storage batteries and 50.15 GWh of power batteries.

The Fluence Energy deal demonstrates that Eve Energy's battery performance and supply capabilities have been reorganized by international energy storage product integrators, the company said. It will also help to establish a long-term strategic alliance between the two parties, Eve said, adding that the firm will continue to consolidate and enhance its influence and competitiveness in the global new energy market. 

Virginia-based Fluence Energy is a Tier 1 grid-level battery energy storage system integrator jointly formed by US utility and power generation firm AES and German industrial behemoth Siemens. Its global production and operations unit oversees manufacturing and delivery of energy storage equipment, as well as the operation and maintenance of power stations.

Hubei Eve Power is one of the two local operators that run Eve Energy’s battery production base in Jingmen, central Hubei province. The facilities under Hubei Eve Power turn out power batteries as well as energy storage cells, which are mainly used in commercial and industrial settings, alongside grid-side and telecom backup applications.

Editor: Martin Kadiev