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CBAK Energy Announces Battery Orders from PowerOak, Parent Company of Top-Rated Portable Power Brand BlueTTI
DALIAN, China, April 18, 2023 /PRNewswire/ -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy," or the "Company"), a leading lithium-ion battery
About this update from Cbak Energy Technology, Inc.
[{"type":"text","content":"DALIAN, China, April 18, 2023 /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 announced that its wholly owned subsidiary, Nanjing CBAK New Energy Technology Co., Ltd. (\"Nanjing CBAK\") has recently secured substantial orders worth approximately RMB18.60 million, or $2.71 million from Shenzhen PowerOak Technology Co., Ltd. (\"PowerOak\"). PowerOak is the parent company of BlueTTI, a top-rated brand in the global market for portable power supply solutions.\nIn March of 2022, PowerOak placed their initial order, through its subsidiary, Huizhou PowerOak Technology Co., Ltd., to purchase batteries from Nanjing CBAK. Since then, Nanjing CBAK has received orders totaling approximately RMB36.85 million, or $5.36 million, from PowerOak, as of April 18, 2023. These batteries are intended for use in PowerOak and their sub-brand BlueTTI's portable power supply units. We anticipate that our partnership with PowerOak will result in additional orders throughout this year and beyond.\nCBAK Energy's CEO, Mr. Yunfei Li, expressed his enthusiasm for the long-term partnership with PowerOak and their sub-brand BlueTTI: \"PowerOak and BlueTTI are among the top three players in the global portable power station market. PowerOak's products have gained popularity not only in China but also in over 70 countries and regions around the world, including Europe, Japan, Korea, and America. With over a year of successful collaboration, we anticipate continued growth and increased demand for our battery products from PowerOak in the future.\"\nAbout PowerOak\nPowerOak is a new energy company based in China that specializes in portable power supply and solar generator industries. Established in 2013, it has quickly become a leading player in the global portable energy storage market, thanks in part to its highly regarded brand BlueTTI. PowerOak is considered a unicorn company, with over 200 patents and a presence in more than 70 countries and regions.\nAbout BlueTTI\nOwned by PowerOak, BlueTTI, as a renowned brand in the portable power supply market, has gained significant recognition in the global market since its registration in 2019. In February 2023, BlueTTI achieved a remarkable fundraising milestone of $12.19 ...