(Yicai) Sept. 12 -- Major battery producer Eve Energy said its unit in China’s Hubei province has received a large order to supply square-shaped lithium iron phosphate energy storage batteries to a leading US energy storage systems provider.

Eve Power will produce and deliver 19.5 gigawatt hours of energy storage cells to American Energy Storage Innovations according to their agreement inked on Sept. 10, Eve Energy said late yesterday.

The Huizhou-based company said the new contract replaces the one signed in June last year with American Battery Solutions, another US energy storage company, for 13.39 GWh of the same type of batteries. It did not disclose why the two US firms switched the deal, the transaction value, nor any other details, such as the delivery schedule.

The new agreement will help both parties establish a long-term and stable cooperative relationship, co-develop sustainable energy storage solutions for energy storage users, and enhance Eve Energy’s global business presence, it added.

Eve Energy produced 26.2 GWh of energy storage cells last year, making it the world's third-largest producer, but overseas sales accounted for only 27 percent of its total, according to the firm’s annual financial report. Income from energy storage batteries accounted for 34 percent of the total, while power batteries used in electric cars made up 49 percent.

Shares of Eve Energy [SHE: 300014] ended 0.5 percent higher at CNY33.84 (USD4.75) each in Shenzhen today, after jumping by as much as 3.2 percent in the morning.

Editor: Martin Kadiev