Beijing, China, Aug. 25, 2023 (GLOBE NEWSWIRE) -- On August 24, a strategic partnership was forged between NewLink and NaaS Technology Inc. (Nasdaq:NAAS) with CR Capital MGMT, synergizing their distinct proficiency in capital and asset management as well as energy services.

This collaboration sets the stage for joint initiatives encompassing the incubation, investment and operationalization of digital and intelligent applications within the realm of new energy. Furthermore, the two entities will align on the construction of integrated energy ports, the orchestration of new energy infrastructure projects, and the innovative securitization of new energy assets. By expanding the scope of new energy business scenarios, this collaborative endeavor promises to invigorate green and low-carbon energy development.

Propelled by two economic engines – industry and capital – NewLink, NaaS and CR Capital MGMT are at the forefront of aligning with new development paradigms and the national strategy of “carbon peaking and carbon neutrality.” This dynamic collaboration harnesses the combined potential of funding, industry, and market, aiming not only to explore more synergistic cooperative models but also to concretely execute a series of new energy projects. In doing so, the partnership strives to actively shape the digital and intelligent transformation of the energy sector while making substantial contributions to the establishment of a novel energy framework characterized by green, low-carbon and sustainability.

For example, with predicted demands for transformation and upgrading of charging infrastructure in various parking scenarios under CR management covering commercial property, residential community, enterprise or logistics park, CR Capital MGMT, in collaboration with NaaS, leverage their experience and advantages in EVs “PV-storage-charging-battery swapping” infrastructure construction and operation, refueling and charging network coverage, to jointly promote the development of new energy charging business.

Qin Feng, General Manager and CEO of CR Capital MGMT stated, “CR Capital MGMT upholds the mission to incubate emerging industries and support industrial development, actively exploring the investment and ecosystem construction of strategic emerging industries. Teaming up with NewLink, a vanguard in energy digitalization, showcases the epitome of industry capital empowering business innovators. It will further fortify CR Capital MGMT’s layout in the new energy industry chain and fuel the eco-friendly and low-carbon transformation of China's transportation energy industry”.

Wang Yang, Co-founder and President of NewLink, Founder and CEO of NaaS, praised CR Capital MGMT’s strategic vision in advancing renewable energy transformation and low-carbon evolution of the energy landscape. “We expect to work with CR Capital MGMT to drive the digital and intelligent upgrade of energy infrastructure. Together, we hope to deliver sound and systematic solutions to promote the green and low-carbon progression of the energy industry, thereby contributing to enhancing the stability and efficiency of the global transportation energy network,” said Wang.

CR Capital MGMT, an affiliate of China Resources Group, is responsible for private equity investment and is the sole operational management platform for the Group’s industrial funds. As of August 2023, CR Capital MGMT had over 200 investment projects under its management, worth over CNY 120 billion. CR Capital MGMT focuses on two major investment directions: people’s livelihood and key pillars for greater power. “People's livelihood" refers to the investment in the upstream and downstream industrial chain of China Resources Group, while "key pillars" refers to the investment in strategic emerging industries, including biotechnology, new energy, new information technology, intelligent manufacturing, new materials, semiconductors, and healthcare.

As of March 31, 2023, NaaS' charging service network had covered 55,000 charging stations and 575,000 chargers. In the first quarter of 2023, NaaS' charging volume reached 1.023 billion kWh. On August 22, NaaS announced plans to acquire Charge Amps AB, a Sweden-born leading EV charging infrastructure provider, a landmark deal that advances the start of the company’s full globalization efforts.

About NewLink

Founded in 2016, NewLink is an energy IoT solution provider specializing in energy digitalization. In its seven-year journey, the company has devised a distinctive business model, known as "NewLink as a Service". With scope of business covering the entire industry chain from energy supply chain, asset management to retail services, NewLink delivers a comprehensive suite of offerings, including refueling and charging solutions, to tens of billions of car owners and tens of thousands of enterprises. NewLink is rated as one of the Top 500 Global New Energy Companies and recognized as the esteemed China Unicorn/Global Unicorn.

About NaaS Technology Inc.

NaaS Technology Inc. (NASDAQ: NAAS), listed in Nasdaq on June 13, 2022, is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group. NaaS provides charging station operators and EV owners with online and offline charging solutions and non-charging value-added services. NaaS also serves charger manufacturers, OEMs and other industry partners, helping to make charging faster, more convenient, with a superior customer experience - and in the process of improving operational efficiency for all parties on the industry value chain.
Learn more at: www.enaas.com/en/

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