3-year Procurement Agreement Expands Company's Domestic Storage Opportunity
By Ben Hansel, Senior Financial Editor, 247MarketNews
DENVER, Colo. (247MarketNews) — Elong Power (NASDAQ:ELPW) announced a three-year energy storage equipment cooperation agreement with a minimum stated procurement value of RMB2 billion, approximately $300 million, with the first purchase contract, valued at no less than RMB300 million (approximately $45 million), scheduled for January 2027.
The new agreement could provide a meaningful opportunity to change Elong’s position. Under the arrangement, Elong's wholly owned Beijing subsidiary will receive procurement priority, supply complete energy storage equipment and support the equipment needs of grid-side independent storage projects. The unnamed cooperating party will handle project investment, construction and operation. That division allows Elong to pursue equipment sales without taking responsibility for financing and operating the power stations themselves.
However, the announcement describes a cooperation framework and the first project-specific contract has yet to be signed.
The development follows another announcement on October 28, when Elong disclosed a one-year, $25.5 million omnichannel distribution agreement through its Hong Kong subsidiary. That agreement involves smart consumer electronics rather than energy storage equipment. Importantly, Elong subsequently reported delivery of an initial batch of approximately $840,000 under that arrangement. The distinction offers a useful benchmark: the company has demonstrated an initial delivery under its distribution agreement, while the much larger energy storage framework is still awaiting its first purchase contract.
About the Author
Ben Hansel is a financial and business writer with a background in business, sales, and finance. He graduated from the University of Texas at El Paso. His professional and educational background informs his coverage of financial markets, corporate developments, economic trends and the broader forces shaping the market.
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