China Power Green Electric Transportation Sector Continues to Gain Momentum - China's First Battery Swap Container Vessel Begins Construction

On February 16, 2022, China's first 120 TEU battery swap container vessel begins its construction in Zhenjiang Shipyard. This is a practical action of CPID (stock code: 02380.HK) to promote the concept of green development by making continuous efforts in the green electric transportation sector, and is also an innovative response to the "3060" target.

This time, CPID's green electric transportation sector, together with Jiangsu Ocean Shipping Co., Ltd. and other parties, is building a battery swap container vessel, on the principle of environmental protection, high-quality and efficiency. Safe lithium iron phosphate batteries are used as the energy carrier, to achieve zero emissions during the voyage. The vessel is equipped with 20-foot standard containerized, highly integrated and mobile universal modular power systems with a large capacity to enable a range of 220 km. Plug-and-play battery swap mode is adopted, and each swap takes only 20 minutes. In addition, the containerized batteries are convenient to use the peak and valley tariff difference for energy storage, and thus further enhance the economy of vessel operation.

The 120 TEU battery swap container vessel will be put into service first on the Taicang port route, an inland waterway in Suzhou Park, Jiangsu Province. The supporting intelligent charging and swapping facilities will be constructed, to further increase the port and shipping integration and accelerate the transformation and development of green electric water transport.

According to statistics, the inland waterway mileage in Jiangsu Province accounts for one-fifth of that in China, with 28,000 inland waterway vessels, of which more than 95% use small- or medium-sized diesel engines as the main power for ship propulsion. Jiangsu shipping industry focuses on the achievement of the "3060" target, with transportation electrification as the core and the promotion of electric vessels as an important job. This provides a broad market for CPID's green electric transportation sector.

In the future, with its professional advantages in the field of green electric transportation and clean energy, CPID's green electric transportation sector will further widen the applications of green electric transportation products, bring into play the synergy effect of ecosystem partners, promote the application of green electric vessels in canals, empower the value chain of the green electric water transportation industry, and promote the high-quality development of the water transportation industry.