At the sixth (2023) China Energy Industry Development Annual Conference dated June 1, NaaS (NASDAQ: NASS) was awarded “2023 Brand Co-Construction Unit of New Power System”. Jointly initiated by China Energy News and China Institute of Energy Economics Research, the award is intended to drive the pick of cases in the industry to standardize new power system, energy storage and other sectors and fuel green and efficient energy development.

As an important component of new energy system, new power system also serves as a key carrier for realizing "carbon peaking and neutrality" target. In 2022, China recorded 5.21 million sets of charging infrastructure for NEVs, making them stand out as an important part of the new power system. Centered on charging stations, NaaS efficiently aggregates scattered charging piles, energy storage, PV and other facilities to the cloud by virtue of its virtual power plant management platform. In this way, a controllable management unit is formed to take part in demand response to peak shaving and valley filling, and trading in electricity market and ancillary service market, and help the power supply department to dispatch power.

Last summer, extreme heat swept the country and inflicted great load pressure on grid operation. NaaS, in collaboration with 5 charging station operators and 8 charging stations in Wuhan, made dynamic adjustments to EV charging time in the platform, while calling on EV owners to engage in peak load shifting by staggering charging and avoiding peak hours under the incentive mechanism.

In energy storage, NaaS co-founded Newlink Hyper with Hyper Strong. Targeting PV combined energy storage and charging via charging stations, industrial/commercial energy storage and new energy power generation-side energy storage, the joint venture spurs energy storage at power side and grid site and sets in place “PV combined energy storage, charging and inspection” integrated charging stations, with a view to addressing problems of power capacity expansion, quick and safe charging, and battery health check of charging infrastructure.

Further to innovation and application, NaaS, oriented to futuristic autonomous driving, unveils a self-developed charging robot. With functions like active vehicle locating, precise self-parking, automatic docking, charging and undocking via mechanical arms, automatic return and recharging, the robot, as a new mobile energy storage unit, can smooth power load and alleviate grid pressure.

As one of the biggest and fastest-growing EV charging service providers in China, NaaS delivers one-stop industry solutions to NEV charging industry chain players, incorporating planing and design, site consulting, EPC engineering, connectivity, operation & maintenance, station management, non-charging service, as well as user-side energy storage, PV and virtual power plant. As of March 31, 2023, NaaS has connected 55,000 charging stations and 575,000 chargers. In Q1 2023, the charging capacity of NaaS has reached 1.023 billion kWh, accounting for 21% of the public charging capacity in China.

Lately, NaaS wound up a new round of SPO, with Dr. Adrian Cheng, the third scion of the Cheng Yu-tung family, one of the four families of Hong Kong, and CST Group, an established HK-listed company (00985. HK), as its new strategic investors.