Canadian Solar (CSIQ) stock is soaring 5.06% in Tuesday's trading session, following a significant announcement from its subsidiary, CSI Solar. The company's e-STORAGE division has successfully completed Large-Scale Fire Testing (LSFT) for its SolBank 3.0 energy storage system, marking a crucial advancement in safety standards for utility-scale energy storage deployments.
The LSFT, independently verified by CSA Group and Energy Safety Response Group (ESRG.UK), demonstrated that the SolBank 3.0 system can effectively contain thermal events within a single enclosure. This achievement not only underscores the system's compliance with key fire safety criteria but also reinforces e-STORAGE's position as a leader in providing safe and scalable energy storage solutions.
Colin Parkin, President of e-STORAGE, emphasized the company's commitment to exceeding industry safety standards. This successful test is likely boosting investor confidence in Canadian Solar's ability to deliver reliable and safe energy storage solutions, contributing to the stock's significant uptick in the market today.
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