Technology

CBAK Energy Reports Full Year of 2024 Unaudited Financial Results

Published

3 weeks ago

March 17, 2025

DALIAN, China, March 17, 2025 /PRNewswire/ — CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy,” or the “Company”) a leading lithium-ion battery manufacturer and electric energy solution provider in China, today reported its unaudited financial results for the full year of 2024 ended December 31, 2024.

Full Year of 2024 Financial Highlights

Net revenues from sales of batteries were $136.59 million, an increase of 2.7% from $132.99 million in the same period of 2023.Net revenues from batteries used in light electric vehicles were $10.32 million, an increase of 84% from $5.61 million in the same period of 2023.Net revenues from batteries used in electric vehicles were $1.68 million, a decrease of 41.67% from $2.88 million in the same period of 2023.Net revenues from residential energy supply & uninterruptible supplies were $124.59 million, an increase of 0.1% from $124.5 million in the same period of 2023.Gross margin for the battery business was 31.5%, an increase of 7.7 percentage points from 23.8% in the same period of 2023.Net income from the battery business was $19.43 million, an increase of 39.08% from $13.97 million in the same period of 2023.

Zhiguang Hu, Chief Executive Officer of the Company, stated, “We are pleased to announce a 36.33% increase in gross profit for our battery segment, reaching US$43.05 million. The gross profit margin also expanded significantly to 31.5%. Even more impressively, net income for the battery segment rose to $19.43 million in 2024, reflecting a substantial growth of 39.08%. These exceptional results are particularly noteworthy as they surpass those of many industry competitors, including leading Chinese battery manufacturers, despite the prevailing challenges and downturn in the broader new energy sector. Furthermore, with demand for our Model 32140 exceeding supply, we are actively expanding production capacity to meet this surge. Looking ahead, we are confident in our ability to sustain profitability in the battery segment for the coming year.”

Jiewei Li, Chief Financial Officer and Secretary of the Board, commented, “While Mr. Hu highlighted the strong performance of our battery segment, our consolidated financial results also showed a remarkable turnaround—from a net loss in 2023 to a net income attributable to shareholders of CBAK Energy of US$11.79 million in 2024. This was achieved despite a modest decline in consolidated net revenues to US$176.61 million, primarily due to the performance of our raw materials production segment, Hitrans. Notably, even with lower consolidated net revenues, we delivered a gross profit margin of 23.65%, representing a significant improvement of 8.13 percentage points compared to last year. These results underscore the robust profitability of our battery segment. We remain confident that the continued growth of this segment will further enhance our consolidated financial performance. Additionally, having fully met all financial obligations to Hitrans, and given that Hitrans’ products are not integrated into our supply chain, its financial performance does not materially impact our business, this is why we have focused on reporting the metrics of our battery segment.”

Full Year of 2024 Financial Results

Net revenues[1] were $176.61 million, representing a decrease of 13.61% compared to $204.44 million in the same period of 2023. This decrease was mainly caused by the decrease of net revenues of Hitrans, our acquired raw materials production unit.

Among these revenues, detailed revenues from our battery business are:

Battery Business

2023

Full Year

2024
Full Year

% Change
YoY

Net Revenues ($)

132,993,518

136,588,803

2.7

Gross Profits ($)

31,580,168

43,052,991

36.3

Gross Margin

23.75

31.5

–

Net Income ($)

13,962,215

19,430,769

39.2

Net Revenues from Battery Business on
Applications ($)

Electric Vehicles

2,883,385

1,681,651

-41.7

Light Electric Vehicles

5,607,435

10,319,176

84.0

Residential Energy Supply &
Uninterruptable supplies

124,502,698

124,587,976

0.1

Total

132,993,518

136,588,803

2.7

[1] Net revenues consist of the Company’s self-operated battery business and Hitrans, which was acquired
in 2021, an independently managed raw materials business.

Cost of revenues was $134.84 million, representing a decrease of 21.9% from $172.71 million in the same period of 2023. The decrease in the cost of revenues corresponds to the Company’s higher gross profit from the battery business.

Gross profit was $41.75 million, representing an increase of 31.68% from $31.72 million in the same period of 2023. Gross margin was 23.7%, compared to 15.5% in the same period of 2023.

Operating income amounted to $8.79 million, compared to an operating loss of $7.25 million in the same period of 2023.

Net income attributable to shareholders of CBAK Energy was $11.79 million, compared to net loss attributable to shareholders of CBAK Energy of $2.45 million in the same period of 2023.

Basic and diluted income per share were both $0.13, compared to basic and diluted loss per share of $0.03 in 2023.

Conference Call

CBAK Energy’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Monday, March 17, 2025 (8:00 PM Beijing/Hong Kong Time on March 17, 2025).

For participants who wish to join our call online, please visit:
https://edge.media-server.com/mmc/p/wwi4b3cb

Participants who plan to ask questions during the call will need to register at least 15 minutes prior to the scheduled call start time using the link provided below. Upon registration, participants will receive the conference call access information, including dial-in numbers, a unique pin, and an email with detailed instructions.

Participant Online Registration:
https://register.vevent.com/register/BI71c592a6d5ad484abebbdb4a1710f229

Once completing the registration, please dial-in at least 10 minutes before the scheduled start time of the conference call and enter the personal pin as instructed to connect to the call.

A replay of the conference call may be accessed within seven days after the conclusion of the live call at the following website: https://edge.media-server.com/mmc/p/wwi4b3cb

The earnings release and the link for the replay are available at ir.cbak.com.cn.

About CBAK Energy

CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian.

For more information, please visit ir.cbak.com.cn.

Safe Harbor Statement

This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.

Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management’s current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in China, that the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of our securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, the effects of the global Covid-19 pandemic or other health epidemics, changes in domestic and foreign laws, regulations and taxes, the volatility of the securities markets; and other risks including, but not limited to, the ability of the Company to meet its contractual obligations, the uncertain markets for the Company’s products and business, macroeconomic, technological, regulatory, or other factors affecting the profitability of our products and solutions that we discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

For further inquiries, please contact:

In China:

CBAK Energy Technology, Inc.
Investor Relations Department
Email: ir@cbak.com.cn

CBAK Energy Technology, Inc. and Subsidiaries

Condensed consolidated Balance Sheets

As of December 31, 2023 and 2024

(Unaudited)

(In US$ except for number of shares)

December 31,

2023

2024

Assets

Current assets

Cash and cash equivalents

4,643,267

6,724,360

Pledged deposits

54,179,549

54,061,642

Term deposits

–

4,237,090

Trade and bills receivable, net

28,653,047

32,938,918

Inventories

33,413,422

22,851,027

Prepayments and other receivables

7,459,254

20,004,966

Receivables from former subsidiary

74,946

12,399

Income tax recoverable

–

566,458

Total current assets

128,423,485

141,396,860

Property, plant and equipment, net

91,628,832

85,486,829

Construction in progress

37,797,862

42,526,859

Long-term investments, net

2,565,005

2,246,494

Prepaid land use rights

11,712,704

11,075,973

Intangible assets, net

841,360

382,962

Deposit paid for acquisition of long-term investments

7,101,492

15,864,318

Operating lease right-of-use assets, net

1,084,520

3,237,849

Total assets

281,155,260

302,218,144

Liabilities

Current liabilities

Trade and bills payable

82,429,575

84,724,386

Short-term bank borrowings

32,587,676

26,087,350

Other short-term loans

339,552

335,715

Accrued expenses and other payables

41,992,540

58,285,635

Payable to a former subsidiary, net

411,111

419,849

Deferred government grants, current

375,375

556,214

Product warranty provisions

23,870

23,426

Operating lease liability, current

691,992

1,268,405

Finance lease liability, current

1,643,864

–

Total current liabilities

160,495,555

171,700,980

Deferred government grants, non-current

6,203,488

7,580,255

Product warranty provisions

522,574

420,688

Operating lease liability, non-current

475,302

2,449,056

Total liabilities

167,696,919

182,150,979

Commitments and contingencies

Shareholders’ equity

Common stock $0.001 par value; 500,000,000 authorized;

90,063

90,083

90,063,396 issued and 89,919,190 outstanding as of December

31, 2023; and 90,083,396 issued and 89,939,190 outstanding as

of December 31, 2024

Donated shares

14,101,689

Additional paid-in capital

247,465,817

247,842,445

Statutory reserves

1,230,511

Accumulated deficit

(134,395,762)

(122,605,730)

Accumulated other comprehensive loss

(11,601,403)

(14,919,345)

116,890,915

125,739,653

Less: Treasury shares

(4,066,610)

Total shareholders’ equity

112,824,305

121,673,043

Non-controlling interests

634,036

(1,605,878)

Total equity

113,458,341

120,067,165

Total liabilities and shareholder’s equity

281,155,260

302,218,144

CBAK Energy Technology, Inc. and Subsidiaries

Condensed consolidated Statements of Operations and Comprehensive Income (Loss)

For the years ended December 31, 2023 and 2024

(Unaudited)

(In US$ except for number of shares)

Year ended

December 31,
2023

December 31,
2024

Net revenues

204,438,365

176,614,609

Cost of revenues

(172,714,042)

(134,839,364)

Gross profit

31,724,323

41,775,245

Operating expenses:

Research and development expenses

(11,928,070)

(13,010,082)

Sales and marketing expenses

(4,903,926)

(5,197,888)

General and administrative expenses

(13,789,108)

(13,947,727)

Impairment charge on long-lived assets

(7,070,236)

(475,220)

Provision for expected credit losses and bad debts written off

(1,284,795)

(356,179)

Total operating expenses

(38,976,135)

(32,987,096)

Operating (loss) income

(7,251,812)

8,788,149

Finance income, net

432,900

1,283,090

Other income, net

3,023,238

1,045,552

Impairment charges on equity investee

(2,366,080)

–

Share of loss of equity investee

(27,428)

(18,777)

Gain on disposal on equity investee

–

45,749

Changes in fair value of warrants liability

136,000

–

Loss (income) before income tax

(6,053,182)

11,143,763

Income tax expenses, net

(2,486,145)

(1,558,613)

Net (loss) income

(8,539,327)

9,585,150

Less: Net loss attributable to non-controlling interests

6,090,270

2,204,882

Net (loss) income attributable to shareholders of CBAK Energy
Technology, Inc.

(2,449,057)

11,790,032

Net (loss) income

(8,539,327)

9,585,150

Other comprehensive loss

– Foreign currency translation adjustment

(3,606,576)

(3,352,974)

Comprehensive (loss) income

(12,145,903)

6,232,176

Less: Comprehensive loss attributable to non-controlling interests

6,249,087

2,229,934

Comprehensive (loss) income attributable to CBAK Energy
Technology, Inc.

(5,896,816)

8,462,110

(Loss) income per share

– Basic

(0.03)

0.13

– Diluted

(0.03)

0.13

Weighted average number of shares of common stock:

– Basic

89,252,085

89,928,357

– Diluted

89,252,085

90,158,312

View original content:https://www.prnewswire.com/news-releases/cbak-energy-reports-full-year-of-2024-unaudited-financial-results-302402574.html

SOURCE CBAK Energy Technology, Inc.

Technology

QC Ware Announces 4th Q2B Tokyo Conference Focused on the Roadmap to Quantum Value in Asia and Beyond, Quemix to Co-host and Sponsor

Published

19 minutes ago

April 6, 2025

QC Ware hosts the 4th Q2B conference in Tokyo to connect the Asian and global quantum technology landscape and bring together quantum industry experts across computing, AI, telecommunications, sensing, finance, automotive, chemicals, and more.

PALO ALTO, Calif., April 6, 2025 /CNW/ — QC Ware, a leading provider of industry-disrupting quantum technology, quantum-inspired machine learning, and quantum chemistry simulation solutions, today announced the 2025 Q2B Tokyo Conference (Q2B25) taking place May 15-16, 2025.

As the Q2B25 Tokyo Co-host and Platinum Sponsor, Quemix will contribute to discussions and demonstrations aimed at accelerating the adoption of quantum technologies in various industries, spanning pharmaceutical, biotech, finance, automotive, logistics, and artificial intelligence. “Quemix is honored to be a co-host of Q2B Tokyo 2025. We’re incredibly excited to see the robust ecosystem that will shape the future of quantum technology being built here,” said Quemix CEO and President, Yu-ichiro Matsushita.

The conference, being held at the Grand Hyatt Tokyo, will dive deep into all major quantum technologies and themes: computing, sensing, communications, security, error correction, quantum AI, HPC integration, and more. Attendees can expect to see featured keynotes, industry case studies, and discussions led by experts at the forefront of quantum R&D from some of the world’s leading businesses and institutions across government, academia, and industry.

“It’s a pleasure to be back in Tokyo for another Q2B event. Japan’s quantum community continues to impress with its innovation, collaboration, and global leadership. The strong engagement of Japanese industrial end users, who are actively exploring and adopting quantum technologies, drive real-world impact across various sectors. We’re excited to engage with this vibrant landscape shaping the future of quantum,” said QC Ware CEO, Matt Johnson. “The quantum ecosystems of Japan and Asia are incredibly dynamic and exciting, and the work undertaken to directly and indirectly create that environment cannot be overstated.”

Through keynotes, business seminars, breakout sessions, technical workshops, and panel discussions, attendees at Q2B Tokyo will learn about the latest hardware and software breakthroughs as well as applications in optimization, chemistry simulations, pharmaceutical and materials discovery, error correction, and quantum AI. Additionally, the conference features several panels and sessions from field practitioners, end users, and experts across industries. Notable speakers include:

Jingo Kikukawa – Director-General, Innovation and Environment Policy Bureau, Ministry of Economy Trade and Industry (METI)Taro Shimada – Chair of the Board, Quantum Strategic Industry Alliance for Revolution (Q-STAR) and CEO, ToshibaProf Seigo Tarucha – Research Group Director, RIKENYu-ichiro Matsushita – CEO, QuemixShuya Kekke – CEO and Representative Director, Quantinuum K.K.Dr. Michael J. Biercuk – CEO and Founder, Q-CTRLSeiji Kihara – Member of the House of Representatives /Chairperson, Election Strategy Committee, Liberal Democratic PartyD. Eng. Seiji Yunoki – Team Leader, RIKENYoshihiro Maeda – Chief Growth Officer, Deloitte TohmatsuDoug Finke – Chief Content Officer, GQI

Q2B is dedicated to promoting and growing the quantum technologies landscape with applied implementation examples via the case studies track. This track is dedicated to real-world applications of quantum technologies and provides case studies from industrial end users who have already started their quantum journey. Leaders charting the future of quantum technology adoption will deliver sessions on recent advancements in the field, including:

Qi Gao – Senior Chief Scientist, Mitsubishi Chemical CorporationCarmen Palacios – Founder and CEO, Nu QuantumOded Melamed – CEO and Co-founder, Quantum SourceDr. Netanel Lindner – Professor of Physics, Co-founder and CTO, QedmaConstanza Vidal Bustamente – Fellow, Technology and National Security, Center for a New American SecurityShaukat Ali – Chief Research Scientist, Simula Research LaboratoryMasahiro Horibe – Deputy Director, AIST/G-QuATMarcus Doherty – Co-founder and CTO, Quantum BrillianceDr. Shintaro Sato – Head of Quantum Lab, Fujitsu ResearchMasaru Watabiki – Senior Expert, Toshiba Digital Solutions CorporationVladimir Tsitrin – Quantum Security Research Lead, Fidelity Center for Applied TechnologyShihan Sajeed – Program Director, Wellcome LeapShunsuke Okada – Executive Director, Q-STAR

Attendees will also have the opportunity to explore the exhibit floor with vendors showcasing their latest advancements in quantum technologies, featuring: Quemix, Keysight, Quantinuum, QuEra Computing, Qedma, Quantum Machines, IonQ, Toshiba, Fujitsu, RIKEN, Classiq, Oxford Quantum Circuits, IQM, Toyota Tsusho, Lquom, NF Corporation, Alpine Quantum Technologies, Q-STAR, and more.

Find the agenda, featured speakers and register to attend Q2B25 Tokyo here.

About QC Ware
QC Ware is a quantum and classical computing SaaS company focused on delivering enterprise value through cutting-edge computational technology. The company develops enterprise-grade applications that run on state-of-the-art classical computing hardware and algorithms targeting near-term quantum hardware. Its flagship product, Promethium, is an advanced molecular discovery platform that leverages quantum chemistry to accelerate research across pharmaceutical, materials science, and chemical industries. With specialization in machine learning and chemistry simulation applications, the team bridges the gap between theoretical quantum computing and practical business solutions. Composed of some of the industry’s foremost experts, QC Ware is headquartered in Palo Alto, California, with a European subsidiary in Paris. The company also organizes Q2B, a global series of conferences for industry, practitioner, and academic quantum computing communities. Learn more at www.qcware.com.

CONTACT: Jean-Baptiste Faverjon, +33777847234, jb.faverjon@qcware.com

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SOURCE QC Ware Corp.

Technology

TwelveLabs to Bring Its State-of-the-Art Video AI Models to Amazon Bedrock

Published

4 hours ago

April 6, 2025

Latest collaboration enables developers to leverage TwelveLabs’ video understanding capabilities to create new applications with the security, privacy, and performance of AWS

LAS VEGAS, April 6, 2025 /PRNewswire/ — Amazon Web Services (AWS), an Amazon.com, Inc. company and TwelveLabs, the video understanding company, today announced that TwelveLabs’ state-of-the-art multimodal foundation models, Marengo and Pegasus, will soon be available in Amazon Bedrock. Amazon Bedrock is a fully managed service that offers developers access to high-performing models from leading AI companies through a single API. Seamless access to TwelveLabs’ advanced video understanding capabilities will enable developers and enterprises to transform how they search, analyze, and generate insights from video content, leveraging the security, privacy, and performance of AWS. AWS is the first cloud provider to offer models from TwelveLabs.

“This integration with Amazon Bedrock represents the next phase in our collaboration with AWS, making our video understanding AI more accessible to enterprises worldwide,” added Lee.

“Video contains nearly 80% of the world’s data, yet most of it remains unsearchable and underutilized,” said Jae Lee, Co-founder and CEO of TwelveLabs. “By making our models available through Amazon Bedrock, we’re empowering even more enterprises to bring video understanding to their existing infrastructure. Our technology enables users to search across their entire content library—from videos collected 10 years ago or 10 minutes ago—to find the precise moment they’re looking for in less than a single second, and then interpret and analyze those moments. This opens the door for all kinds of novel uses. Through the collaboration with AWS, we can extend powerful capabilities to customers and accelerate innovation across industries.”

Advanced AI Video Capabilities

Video is commonly regarded as one of the world’s largest unsearchable data sources, yet TwelveLabs’ cutting-edge technology turns it into a trove of accessible information. Whether it’s giving a sports network the ability to instantly pull every instance of a specific play style or commentator reaction or helping a broadcaster identify recurring themes across large volumes of footage, TwelveLabs helps teams turn their video archives into usable, indexable assets, unlocking both operational efficiency and new revenue opportunities.

TwelveLabs overcomes the inherent complexities associated with video understanding to allow customers to search video across all modalities. Specifically, TwelveLabs delivers:

Natural language video search that pinpoints precise content momentsDeep video understanding without requiring pre-defined labelsMultimodal AI processing visual, audio, and text simultaneouslyTemporal intelligence connecting related events across timeEnterprise solutions scaling extensive video libraries into accessible knowledge

“At MLSE, we are defining the future of the sports and entertainment business. Innovation is in our DNA, and we’re leading the charge in shaping what comes next. With powerful tools like Amazon Bedrock and TwelveLabs’ AI models supporting our vision, we’re accelerating our ability to create smarter, more immersive experiences for fans.” said Humza Teherany, Chief Strategy and Innovation Officer at Maple Leaf Sports & Entertainment.”

Unlocking the Power of Video Understanding for AWS Customers

With Marengo and Pegasus available in Amazon Bedrock, AWS customers can use TwelveLabs’ models to build and scale generative AI applications without managing underlying infrastructure. Using Amazon Bedrock, customers gain access to a broad set of capabilities while maintaining complete control over their data, benefiting from enterprise-grade security and utilizing cost control features—all essential for deploying AI responsibly at scale.

TwelveLabs’ fully managed, serverless models in Amazon Bedrock allow developers to:

Create applications that search through videos, classify scenes, summarize content, and extract insights using natural languageBuild sophisticated video understanding features without specialized AI expertiseScale video processing from small collections to massive libraries with consistent performanceDeploy solutions with enterprise-grade security and governance controls

“Video understanding is revolutionizing how industries like media & entertainment, sports, automotive, and education work with and discover content,” said Samira Panah Bakhtiar, General Manager of Media & Entertainment, Games, and Sports at AWS. “Over the last year, I have consistently said that natural language semantic search is a ‘strategic unlock’ for our entertainment customers, as they reexamine their existing intellectual property and breathe new life into it. By bringing TwelveLabs’ advanced models to Amazon Bedrock, we’re helping our customers make sense of any video moment, unlocking the full value of their treasured video assets. Businesses will now be able to easily search, categorize, and extract insights from their vast video libraries, enabling new use cases and better user experiences that were previously impossible without significant technical expertise.”

The integration will benefit multiple industries, from media, entertainment, advertising and beyond. For example:

Film and TV Studios can rapidly manage video workloads from dailies, content repacking, and archive managementSports Leagues and Teams can efficiently create match highlights and create customized fan focused content at scaleNews Agencies and Broadcasters can quickly manage large libraries to find the moments that matterStreaming services can better package and distribute content across platforms and more effectively insert relevant video ads

AWS and TwelveLabs’ integration partner Monks expressed their excitement: “We’ve been putting AI to work across the entire video value chain for IP holders, broadcasters and brands. TwelveLabs in Amazon Bedrock makes it easier to realize opportunities for monetization in broadcast news, entertainment and sports by making it simpler and more secure to build and scale applications with powerful video understanding,” said Lewis Smithingham, EVP Strategic Industries at Monks.

Expanding Collaboration Between AWS and TwelveLabs

This announcement builds on a strong existing relationship between AWS and TwelveLabs and continues the momentum of their Strategic Collaboration Agreement (SCA). TwelveLabs is working with AWS to accelerate the development of its foundation models, deploy its advanced video understanding foundation models across new industries, and enhance its model training capabilities using Amazon SageMaker HyperPod. With the reliable and scalable infrastructure offered by SageMaker HyperPod, TwelveLabs has accelerated model training while reducing training costs.

“This integration with Amazon Bedrock represents the next phase in our collaboration with AWS, making our video understanding AI more accessible to enterprises worldwide,” added Lee.

To learn about TwelveLabs’ industry leading models, please explore twelvelabs.io, Marengo 2.7 and Pegasus 1.2. Find out more about TwelveLabs models in Amazon Bedrock here.

About TwelveLabs

TwelveLabs uses multimodal foundation models to bring human-like understanding to video data. The company’s foundation models map natural language to what’s happening inside a video, including actions, objects, and background sounds, allowing developers to create applications that can search through videos, classify scenes, summarize, and extract insights with unprecedented accuracy. Headquartered in the US, TwelveLabs serves customers across media, entertainment, sports, advertising, and government. For more information, visit www.twelvelabs.io

Media Contact

Amber Moore, Moore Communications, 1 5039439381, amber@moorecom2.com, Moore Communications

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SOURCE TwelveLabs

Technology

Sungrow Leads the Dialogue on Spain’s Path to a Sustainable Energy Future

Published

5 hours ago

April 6, 2025

Sungrow’s exclusive conference in Madrid brought together industry leaders to highlight how technology, dedicated professionals and collaboration between all stakeholders can support Spain to further accelerate towards a sustainable future.

MADRID, April 6, 2025 /PRNewswire/ — As the global leading PV inverter and energy storage system provider, Sungrow successfully hosted an exclusive conference in Madrid on April 2, bringing together industry experts and business leaders to discuss the opportunities for Spain to achieve its ambitious climate and energy targets. The event provided a vital platform to explore the country’s renewable energy opportunities, emphasizing the crucial role of the Commercial & Industrial (C&I) sector and the growing importance of hybrid solutions combining photovoltaic (PV) systems with Energy Storage Systems (ESS). At the same time, as mobility enters a new era with the electrification of vehicles, EV Charging become an increasingly critical topic on the road towards a sustainable future.

Spain’s Renewable Energy Vision and the Role of C&I Projects
Spain has set an ambitious target of reaching 81% renewable electricity generation by 2030, as outlined in its National Energy and Climate Plan (PNIEC)1. With solar energy playing a pivotal role in this transition, the integration of battery storage is becoming increasingly essential to ensure grid stability, maximize self-consumption, and enhance energy independence.

During the conference, experts highlighted the potential of the C&I sector to accelerate the deployment of clean energy solutions. Businesses are increasingly recognizing the economic and environmental advantages of integrating solar power with storage, reducing dependency on fossil fuels and fluctuating energy prices. Sungrow reaffirmed its commitment to supporting this sector with cutting-edge technology, providing tailored solutions that enhance efficiency, reliability, and long-term savings. As its latest ESS for C&I projects, the PowerStack 200CS, clearly showcases, energy storage can lead to significant ecological and financial benefits, as long as cutting-edge technology, high efficiency, and undisputed safety are combined with a strong team of experts supporting all the phases of such a complex operation, from the design phase and delivery phase, up to the Operation and Maintenance (O&M) of the project.

Hybrid Solutions: The Key to a Resilient Energy Future
A major theme of the conference was the critical role of hybrid systems in achieving Spain’s energy transition. Combining PV with ESS allows businesses and energy producers to store excess solar energy, ensuring uninterrupted supply and mitigating grid congestion challenges. This approach not only optimizes energy usage but also supports Spain’s goal of a more decentralized and resilient energy network. Sungrow showcased its comprehensive portfolio of solutions designed to empower businesses and energy developers to implement hybrid energy projects seamlessly and great flexibility. These include PV inverters like the SG350HX-20 string inverter, the SHT range of hybrid inverters and a range of storage solutions, characterised also for the ease of expandability. At the same time, as part of a fully sustainable ecosystem, Sungrow offers a complete range of AC and DC, EV Chargers, for private, semi-public and public use, as the latest IDC480E, an ultra-fast charger capable of charging up to 8 vehicles at once, making it an ideal solution for fleet operators.

A Commitment to Innovation, Public Dialogue and Sustainability
Sungrow’s conference in Madrid reinforced the company’s proactive role in shaping the future of renewable energy in Spain. By fostering discussions between industry stakeholders and providing world-class solutions, Sungrow continues to drive the adoption of clean energy technologies that align with the nation’s sustainability goals. The panel discussion “The Next Step of Renewables” emphasized this focus on public dialogue as a means to fully utilize the opportunities of a sustainable future.

“As Spain advances toward its renewable energy objectives, collaboration and innovation will be key drivers of success,” said Mr. Javier Blanco, Country Manager at Sungrow Iberica. “At Sungrow, we are proud to contribute to this transition by equipping businesses with state-of-the-art PV and storage solutions and the utmost levels of service and support that pave the way for a cleaner, more sustainable future.”

With Spain’s renewable energy landscape evolving rapidly, Sungrow remains committed to empowering businesses and energy producers with the tools they need to thrive in the green transition. Sungrow has established a strong team of more than 100 experts in Spain and Portugal. Moreover, with two offices, in Pamplona and Madrid and the impressive new Technological Center for Training and Innovation in Pamplona that covers a total area of 10,000 square meters, designed to serve as a hub for training, innovation, and service excellence, Sungrow confirms its commitment on supporting the energy transition in Spain and South Europe. The company will continue to invest in advanced technologies, local partnerships, and knowledge-sharing initiatives to accelerate Spain’s clean energy revolution.

https://www.enerdata.net/publications/daily-energy-news/spain-target-2030-power-renewable.html

About Sungrow
Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 28 years. As of December 2024, Sungrow has installed 740 GW of power electronic converters worldwide. The Company is recognized as the world’s No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the world’s most bankable energy storage company (BloombergNEF). Its innovations power clean energy projects in over 180 countries, supported by a network of 520 service outlets guaranteeing excellent customer experience. At Sungrow, we’re committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit: www.sungrowpower.com.

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