Acer Expands Commitment in Energy Storage; Invests in Lithium Iron Phosphate Battery Cell Maker, C-Life Technologies

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Aug 03, 2023, 05:48 ET

Expanding foothold in energy storage industry, and accelerating adoption of renewable energy such as solar and wind power

TAIPEI, Aug. 3, 2023 /PRNewswire/ -- In a move to expand its foothold in the energy storage industry, Acer Inc. (TWSE: 2353) announced that its board of directors approved to invest in C-Life Technologies, Inc., a maker of lithium iron phosphate battery cells in Taiwan. Acer will acquire up to 13 million shares (approximately 11% of total shares) at NT$30 per share. Energy storage holds an indispensable role in the future of renewable energy such as solar and wind power.

Acer Chairman and CEO Jason Chen stated, "We must speed up the adoption of renewable energy to fight climate change caused by global warming. The key to solar and wind power utilization lies in energy storage technology. As part of our sustainable development strategy, Acer has already ventured into energy storage solutions for households and industrial use. Through our long-term strategic investment in C-Life Technologies, we hope to expand our foothold in the energy storage industry, providing solutions from manufacturing to application, in-front-of- to behind-the-meter solutions, and contribute to the green energy industry."

Established in 2009, C-Life Technologies has solid experience in the R&D and manufacturing of lithium iron phosphate battery cells and continues to develop new products such as battery energy storage systems and products related to electric vehicles. Lithium iron phosphate batteries have high safety levels, stable voltage output, rapid charging and high discharge capabilities, long service life, high energy density, as well as meeting green energy requirements. With its knowhow of core battery production technologies, C-Life Technologies has entered the battery energy storage systems market. In 2022 it completed its second-generation battery energy storage system design, and in January 2023, successfully installed a 1 MW energy storage system (20 ft container) in its factory.

In recent years, the Acer Group has been actively promoting low-carbon transformation and taking actions that demonstrate its determination. Starting from sourcing raw materials for its products, Acer has continued to increase the use of sustainable materials such as post-consumer recycled (PCR) plastic and ocean-bound plastic (OBP). In 2023 Acer announced its net-zero strategy and pledged to reach net zero emissions by 2050.

About Acer

Founded in 1976, Acer is one of the world's top ICT companies with a presence in more than 160 countries. As Acer evolves with the industry and changing lifestyles, it is focused on enabling a world where hardware, software and services will fuse with one another, creating ecosystems and opening up new possibilities for consumers and businesses alike. Acer's 7,700 employees are dedicated to the research, design, marketing, sale, and support of products and solutions that break barriers between people and technology. Please visit www.acer.com for more information.

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