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Carbon Neutral Solutions Group

CNSG’s Strategic Role in China’s Clean Energy Expansion

The leadership team at Carbon Neutral Solutions Group LLC brings decades of invaluable experience and deep-rooted relationships throughout China and with IdealabX, the only venture capital fund globally with guaranteed early access on preferential terms to the deals created by Idealab Studio and Idealab NY. A significant milestone was the introduction of the Idealab-founded U.S. company, Energy Vault, to China Tianying (CNTY), a China Fortune 500 public company, through Atlas Renewable LLC—where CNSG President Olivier Contant is the Founding Investor and member, and Jonathan Cohen serves as the General Partner of IdealabX.

This collaboration led to the first gravity-based energy storage agreement between a U.S. and Chinese company, aligning with China’s ambitious “30-60” decarbonization goals: achieving carbon peak by 2030 and carbon neutrality by 2060. The partnership included a $50 million investment in Energy Vault and a $50 million multi-year technology licensing agreement, facilitating the deployment of Energy Vault’s innovative EVx™ platform in China.

Rudong Energy Vault EVx™ Project: A Landmark in Energy Storage

The inaugural project under this partnership is the 25 MW/100 MWh EVx™ gravity energy storage system located in Rudong, Jiangsu Province, near Shanghai. This facility is the world’s first commercial, utility-scale, non-pumped hydro gravity energy storage system. It was connected to the Chinese grid in December 2023 and is undergoing final commissioning. The system is designed to augment and balance China’s energy grid by storing renewable energy and delivering it during peak demand periods .

Expanding Portfolio: Over $1 Billion in Projects Across China

Building on the success of the Rudong project, CNTY and Atlas Renewable have announced plans for additional EVx™ deployments across China. As of late 2023, there are seven planned EVx™ projects totaling approximately 3.26 GWh of storage capacity, representing over $1 billion in capital expenditures. These projects include:

  • A 2 GWh EVx™ system in Tongliao, Inner Mongolia
  • A 50 MW/200 MWh EVx™ system in Zhangye, Gansu Province
  • A 25 MW/100 MWh EVx™ system in Huailai Cunrui, Hebei Province

These deployments underscore the strategic value of gravity energy storage technology in China’s transition to renewable energy sources.

CNSG’s Ongoing Impact

CNSG continues to play a crucial role in facilitating international partnerships that drive innovation in sustainable energy. By leveraging its extensive network and expertise, CNSG is instrumental in scaling gravity-based energy storage solutions, contributing significantly to global decarbonization efforts.

Dr. Olivier Contant

Founder and Partner

Jonathan Cohen

Partner

Dr. Tianyi Wang

Ext. Partner

Let’s work together!

Motivated by China’s bold targets of hitting its Carbon Peak by 2030 and being Carbon Neutral by 2060, there’s a surge in demand for innovations that can assist in meeting these objectives. We are honored to facilitate the entry of these companies into the massive Chinese market, ensuring their intellectual property rights are safeguarded. With the backing of CNSG partners established in China and the World, we remain committed to achieving our goals while maintaining the utmost international business standards.