Sungrow is Listed in Forbes China's Top 50 Most Innovative Companies

HEFEI, China, Aug. 19, 2022 /PRNewswire/ -- Sungrow, the global leading inverter and energy storage solution supplier for renewables, announced that it is listed in Forbes China's Top 50 Most innovative companies and is the only inverter company listed. This honour reaffirms Sungrow's years-long dedication to technological innovation and recognizes its continuous achievements in the renewable energy industry.

Referring to Innovation, Jack Gu, Sungrow's Senior Vice President, expressed his thoughts during his dialogue with Forbes China the other day: "Solar inverters will still be the 'Brain' to manage modules and be able to detect and repair failures. In addition, as large-scale renewables connect to the grid, PV plants need actively support the grid, which requires the inverter to be more intelligent and competent to manage the system. What is more, when governmental subsidies to this industry decrease, PV plants must bring long-term benefits. Hence, Sungrow seeks to upgrade the inverter equipment with advanced algorithms and other innovative technologies so that they can help save the O&M costs, lower the LCOE and increase the overall ROI for all stakeholders."

Sungrow's innovative spirit is not only manifested in the solar inverter development but is inherited in its booming energy storage system business. "Sungrow aims to be a professional company in storage system integration and smart energy management. We provide three core equipment including Battery Management System (BMS), Power Conversion System (PCS) and Energy Management System (EMS), which are supported by Sungrow's innovative technologies in power conversion, battery, and grid forming," Jack Gu emphasized, "Sungrow will focus on refining the integration of software and hardware of storage system as well as improving energy management systems."

25 years-long innovation and R&D bring fruitful results to Sungrow. It was ranked as the No.1 PV inverter supplier globally with 47.1 GWac shipments by IHS Markit now a part of S&P Global. It also shipped a total 3GWh of ESS globally in 2021, all working safely. Being listed as the Top Innovative Company also testifies to its capabilities to innovate. "At Sungrow, the R&D personnel occupies over 40% of the total, and we are also the Top.1 patent holder in this industry with over 4400 patents. This large team keeps exploring more possibilities in the renewable energy industry. When sticking to the main business of inverter and energy storage systems, Sungrow also seeks growth in wind energy solutions, NEV driving solutions, EV charging solutions and renewable hydrogen production systems. This industry is creating numerous opportunities, but potential risks will also arise. Hence, we will remain proactive and prudent amid the complex situation and keep a close eye on the market and industry changes constantly so that we can maintain strong competitiveness in the long term," Jack Gu concluded.

About Sungrow

Sungrow Power Supply Co., Ltd. ("Sungrow") is the world's most bankable inverter brand with over 269 GW installed worldwide as of June 2022. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial & industrial, and residential applications, as well as internationally recognized floating PV plant solutions, NEV driving solutions, EV charging solutions and renewable hydrogen production systems. With a strong 25-year track record in the PV space, Sungrow products power over 150 countries worldwide.

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