At 8:18 am on July 27, 2022, Ritar Group Rich's annual production of 4 million kWh OPzV solid-state lead carbon battery project started grandly in Songmu Economic Development Zone, Hengyang, Hunan!

With the rapid development of high-tech such as cloud computing, big data, and the Internet of Things, "carbon peak and carbon neutrality" have become national strategic goals, and the future prospects of the energy storage market are broad. In order to seize this market opportunity, Ritar Group invested 800 million yuan in June 2022 to build the Rich New Energy OPzV Solid State Lead Carbon Battery Industrial Park in Songmu Economic Development Zone, and officially started construction on July 27th. The project is expected to be completed and put into operation in early 2023. After reaching full capacity, it is expected to achieve an annual output value of 4 billion yuan and an annual tax revenue of 200 million yuan. The commencement of construction of this project marks the further implementation and implementation of Ritar Group's investment and development plan in Hengyang, and is also an important manifestation of promoting Ritar Group's rapid development in Hengyang, achieving industrial cluster and local doubling.

Under the dual carbon strategy, the energy storage power market will usher in a trillion dollar boom. Ritar Group, relying on its technological, product, and industrial chain advantages, is accelerating the layout and development of the new energy storage industry. Ritar Group plans to invest 20 billion yuan in energy storage dedicated OPzV solid-state lead carbon batteries within 5 years, striving to become a leading enterprise in OPzV solid-state lead carbon batteries under the dual carbon strategy. We aim to build Hengyang Ritar into a billion yuan energy storage battery production base, a billion yuan energy storage power station integration base, and a world-class "double billion yuan safe new energy storage city" within 10 years.

The construction of Rich New Energy OPzV Solid State Lead Carbon Battery Industrial Park is an important part of Ritar Group's steady progress in energy storage strategy layout.