How a little known spin-off of Chinese battery giant CATL has come to dominate the global home energy storage market
- By the end of 2023, Ampace said it had shipped its green energy solutions to over 41 million households in 29 countries across the globe
- The Xiamen-based company also wants a slice of the global market for power tool and electric bike batteries
“There is huge demand and there are diverse application scenarios for small- and medium-scale energy storage and medium-sized lithium-ion batteries, and we want to carve out a space in this part of the battery market,” said Yuan Qingfeng, research and development director at Ampace.
The Xiamen-headquartered company was founded in 2021 as a joint venture between CATL and CATL’s former parent company Amperex Technology Limited (ATL).
Within three years of its inception the little-known company has managed to quietly move into a leading position in the global home energy storage market, in which batteries allow households to store surplus electricity for later consumption.
03:15
China-made battery plant upsets local residents in Hungary, triggering protests
According to data from Shenzhen Gaogong Industry Research (GGII), China shipped 20 gigawatt-hours (GWh) of the global total of 24GWh of residential energy storage systems in 2023. Ampace was ranked the biggest manufacturer, accounting for over 30 per cent of China’s contribution.