At the 2023 Zhongguancun Forum, a model machine powered by an electric motor was showcased, which compressed ambient air and stored it in a storage device. During peak electricity demand, the high-pressure air is released to generate power. The forum showcased an array of cutting-edge technologies, ranging from clean energy solutions to quantum computing cloud platforms, which exemplify China’s pursuit of enhanced originality and innovation. Professor Carl Fey of BI Norwegian Business School noted that China has a vibrant atmosphere for technological innovation, and the thriving environment is fostering new industries and business models. Zhongchuguoneng (Beijing) Technology Co., Ltd. has implemented demonstration projects in various locations and is increasing its investment in research, as compressed air energy storage is poised to become a significant growth driver in the new energy sector.
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