HomePress ReleaseEIN PresswireAIG to underwrite Hithium energy storage products

AIG to underwrite Hithium energy storage products

Hithium BESS containers at a 2022 C&I undertaking

Hithium BESS at 80 MWh photo voltaic undertaking

XIAMEN, CHINA, June 27, 2023/ — Stationary lithium-ion battery producer Hithium has signed a world business legal responsibility insurance coverage settlement with U.S. insurance coverage agency AIG’s Chinese language subsidiary. The step goals to strengthen Hithium’s product high quality assurance and supply clients with immediate corresponding providers, according to worldwide requirements in addition to native laws in every market.

AIG will present complete underwriting providers for the producer’s complete product vary, together with LFP batteries, battery modules, battery racks, and energy storage techniques (ESS). The settlement covers Hithium products and providers worldwide, for “energy technology aspect energy storage (photovoltaic and wind energy), grid aspect energy storage, and industrial and business energy storage.”

The product assurance improve by means of this new settlement helps to optimize Hithium’s insurance coverage construction and threat protection, permitting for higher recognition and confidence of abroad clients within the firm’s model. Hithium has pledged to proceed rising its already important funding in product analysis and improvement, to drive progress on battery efficiency and security whereas supporting the worldwide build-out of lasting clear energy infrastructure.

As an internationally identified insurance coverage supplier with greater than a century of enterprise historical past, AIG presents a variety of monetary providers to clients in additional than 80 nations or areas world wide.

Hithium, based in 2019 in Xiamen, provided greater than 40 ESS initiatives in 2022 with 5 GWh of battery capability and ranked first in its home market when it comes to initiatives delivered. It’s increasing globally with places of work on three extra continents and clients all around the world, and rising out its present 45 GWh of manufacturing capability to 70 GWh by the tip of 2023.

Maggie Bell
Sunbeam Communications
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