On April 24, 2023, Yan Shengjun, Chairman of China Tianying Inc. (CNTY) and Liu Zehong, Vice Chairman of the Global Energy Interconnection Development and Cooperation Organization (GEIDCO), signed a cooperation agreement on behalf of both parties. The agreement aims to work together to promote and implement the concept of global energy interconnection, accelerate the development of key technologies and equipment such as clean energy power generation, grid interconnection and new energy storage, promote project construction and business model innovation, and achieve green transformation of energy and electricity, new technology breakthrough and industrial upgrading.

GEIDCO is an international organization that aims to promote the construction of a global energy network and meet global electricity demand in a green way. It creates a platform for high-level exchanges and meetings, promotes international cooperation and research results. It is the first international organization in the field of energy initiated by China and registered with the Ministry of Civil Affairs, as well as the first cooperation organization for global energy network.

At the signing ceremony, Vice Chairman Liu said that building a new type of power system is an important direction to promote national energy transformation and accelerate green development. The gravity energy storage system (GESS) is flexible in site selection, environmental friendly, scalable, has a long service life, and has broad application prospects in the power system. CNTY has been the first to apply GESS in China, and has invested in the construction of China's first GESS demonstration unit, forming a first-mover advantage and accumulating valuable experience.

Chairman Yan expressed that GEIDCO is an important promoter and practitioner of global energy transition, with international discourse and influence. The cooperation between the two sides can give full play to the platform, resources and think tank advantages of GEIDCO, as well as the technical, engineering and market advantages of CNTY in new energy, creating more values and promoting the trend of green and low-carbon sustainable development.

Through the signing of the agreement, the two sides will focus on key areas such as GESS, strengthen joint research and results application, promote breakthroughs in key technologies and equipment for new power systems, join forces to promote investment and construction of GESS, clean energy generation and other projects, and inject vitality into the high-quality development of the global economy and society.