Elong Power Holding Limited, a company listed on Nasdaq and engaged in high-power battery and energy storage systems, has announced a strategic cooperation agreement with Indonesia's Consumer Protection Agency (BPKN). This collaboration aims to tackle electricity access issues in Indonesia and boost the development of the country's new energy industry. The agreement entails BPKN coordinating with national agencies to invest over US$1 billion in constructing integrated solar-plus-storage off-grid power systems for rural and island residents in Indonesia, with Elong Power providing comprehensive solutions. While this partnership marks a significant step in Elong Power's global expansion, it does not constitute a binding commitment for product or service purchases. Elong Power will also support BPKN in formulating policies for lithium battery energy storage systems and the electrification of the mining sector.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.