Shanghai (ZXZC)- The Chinese battery giant Contemporary Amperex Technology Co., Ltd. (CATL) launched its new energy storage system TENER （“Tianheng”in Chinese Pinyin) on April 9.

Photo credit: CATL

Currently, the primary challenge impeding the advancement of the energy storage sector lies in the limited lifespan of batteries. In China, the expected lifespan for power-based energy storage systems is around 10 years, yet their actual operational life averages less than 3 years. As for energy-based energy storage systems, the actual service life also falls short of the expected 15-year lifespan, averaging at less than 8 years.

To solve this problem, CATL has been dedicated to the development of long-life battery technology with zero attenuation and has already realized zero attenuation in first 3 years. The TENER energy storage system now boasts the ability to maintain its capacity and power without any degradation for the first five years, and it is ready for mass production and delivery. The failure rate of the TENER system's individual battery cells has reached an industry-leading level of parts per billion (PPB), extending across the entire life cycle and the full operational chain. This achievement can significantly reduce operational costs and notably enhance the internal rate of return (IRR) over the full lifecycle.

According to CATL, The TENER TEU (twenty-foot equivalent unit) containerized BESS (battery energy storage system) achieves a high energy level of 6.25 MWh, enhancing the energy density per unit area by 30% and achieving a 20% reduction in footprint compared to CATL's previous generation of products. It is also equipped with the energy storage-dedicated L series long-life battery with a super high energy density of 430Wh/L.

According to CATL's latest annual financial results, CATL's yearly revenue for the first time surpassed the 400 billion-yuan mark, reaching 400.917 billion yuan, representing a year-over-year increase of 22.01%. The corresponding net profit attributable to shareholders was about 44.121 billion yuan, leaping 43.58% compared to the previous year. Notably, the revenues generated from the sales of energy storage battery systems reached 59.9 billion yuan, indicating a 33.17% year-on-year increase and accounting for 14.94% of the total revenues, serving as the company's second largest revenue source.

In 2023, CATL's sales of energy storage battery systems reached 69 GWh, up by 46.81% over a year earlier, ranking first globally for three consecutive years . The introduction of the Tianheng energy storage system is expected to further solidify CATL's position in the energy storage field.