Sermatec's Smart Energy Storage Equipment Manufacturing Base will soon be located in Spain

On November 8th, Sermatec Energy Technology Co., Ltd. announced a milestone strategic decision to establish our first overseas joint venture smart energy storage manufacturing base and energy trading platform in Malaga, Andalusia Province, Spain. This move signifies the official implementation of Sermatec's localization strategy after five years of deep cultivation in the European market. Malaga is set to become a crucial hub for Sermatec to expand its European and global business.

The new base, with an initial investment of up to 60 million euros and a land area of approximately 18,900 square meters, is expected to commence operations by the end of 2025. The base will focus on the production of energy storage battery modules & packs, outdoor cabinets & container-based energy storage systems, with an estimated annual production capacity of 5GWh.

In addition, Sermatec will build an energy trading platform in Spain, working with its joint venture partners to provide localized energy operation services centered around electricity price forecasting and trading. This initiative is expected to make Malaga a leading city in the Spanish and European energy storage industry, further promoting the regional industrial upgrade. It is anticipated to directly create 800 jobs, injecting new vitality into the local economy. As the sixth base in Sermatec's global layout, the new base's scale is comparable to other domestic bases, demonstrating Sermatec's firm confidence in the future development of the European energy storage market and its long-term investment perspective.

Recently, Sermatec has conducted in-depth exchanges with Andalusia Province's Minister of Finance, Carolina Espa?a Reina, and Minister of Industry, Jorge Paradela Gutiérrez, and other relevant department leaders, regarding the details of the base's landing and subsequent plans. To support the local industry, the Andalusia Provincial Government will provide a series of incentives, including tax benefits, new energy project subsidies, priority selection rights for approximately 6GWh of local government projects (2025 to 2027), and priority project networking, among others.