“The signing of this agreement marks a new stage in the cooperation between our two companies and reflects our shared confidence in the long-term development of the global energy storage market,” HyperStrong co-founder and president of operation Peng Shu said.
While the announcement was light on details of the partnership, such as expected volumes or the length of the agreement’s terms, HyperStrong and SMA said they aim to promote the development of more standardised, scalable and globally adaptable energy storage solutions.
Pure-play system integrator HyperStrong sources its inverters and power conversion system (PCS) power electronics from various Tier-1 suppliers, thought to include fellow Chinese companies Sungrow and Sinexcel, as well as Europe’s SMA.
The global inverter industry is undergoing a profound transformation driven by policy and regulatory changes in the renewable energy landscape, Solar Media Market Research analyst Mollie McCorkindale wrote in a recent article for our sister site PV Tech.
These include tariffs on Chinese-manufactured goods and restrictions on eligibility for tax credit incentives in the US market. This dual pressure is creating a strong pull for domestic manufacturing of inverters, McCorkindale wrote.
