At the 15th “Influence Jinan” Economic Figures Awards Ceremony held at Long’ao Building, Yu Peng, CEO of Ean New Power Technology (Shandong) Co., Ltd., was honored as an “Innovative Figure,” a recognition of both his personal vision and his company’s rapid rise as a driving force in China’s new energy sector.
Founded in 2020 and headquartered in Jinan High-Tech Zone, Ean New Power specializes in new energy power systems for off-road machinery and smart grid energy storage systems. Backed by its parent company, Yantai Eddie Precision Machinery Co., Ltd.—a Shanghai Stock Exchange-listed leader in high-end hydraulic systems—Ean New Power has grown from a startup to a national industry frontrunner in just a few years.
“Our mission has always been clear: to empower the energy transition and safeguard blue skies and white clouds,” Yu Peng said in his acceptance speech. “This award is not only a recognition of our team but also a reflection of Jinan’s fertile ground for innovation and industrial growth.”
From Startup to Industry Leader
With strong R&D capabilities, Ean New Power has brought cutting-edge technologies to market at record speed. Its battery management system (BMS) pioneered a “three-level thermal runaway warning + dual physical isolation” mechanism, supported by over 500 sensors and AI algorithms capable of providing early warnings 30 minutes in advance with 98% accuracy. The company’s energy management system (EMS) integrates photovoltaics, storage, and charging infrastructure, using blockchain technology to track cell data throughout their lifecycle—boosting storage asset utilization by 25% while cutting operating costs by 30%.
These breakthroughs have enabled large-scale application of its power battery systems in aerial work platforms, loaders, excavators, mining trucks, heavy-duty trucks, forklifts, and underground loaders. Its energy storage solutions now serve grid regulation projects, industrial and commercial energy stations, photovoltaic and wind farms, as well as residential storage and mobile charging units.
Ean New Power has also played a key role in Shandong’s largest fire-storage frequency regulation project, helping shift the industry from policy-driven to economically driven development, offering a replicable model for traditional power plant transformation.
Riding the Global “Electrification Revolution”
Yu Peng is convinced that the world is entering what he calls a “long-lasting electric revolution”, where electrification will be at its core. According to his forecast, China’s new energy storage capacity is expected to reach 30GW by 2025, compared to just 3.28GW already installed today—a sign of the sector’s vast growth potential.
“Energy systems worldwide are undergoing transformation,” Yu explained. “With the dual-carbon goals and the new energy wave, the shift to electrification is inevitable. This is both a challenge and a historic opportunity.”
Empowered by Jinan’s Business Environment
Yu often emphasizes that Ean New Power’s rapid growth would not have been possible without Jinan’s supportive policies. From project initiation to factory completion and operation, the company took just two months—an extraordinary pace by industry standards. Local government support in land use, financing, tax incentives, and supply chain coordination provided a solid foundation for success.
“Jinan has shown us speed, temperature, and determination,” Yu said. “The city’s business environment allows young companies like ours to move fast and grow with confidence.”
Looking Ahead
Ean New Power has already been recognized as a “High-Tech Enterprise,” “Specialized and Innovative SME,” “Top 100 Global Construction Machinery Parts Supplier,” and a “China Top 100 New Energy Storage Brand.” Looking forward, the company is planning an IPO and has reported 118% revenue growth in the first quarter of 2025.
Yu Peng remains ambitious: “We will continue to deepen technological innovation, optimize our product portfolio, and deliver world-class services to global customers. By leveraging Jinan’s industrial cluster advantages, we aim to contribute even more to the city’s high-quality economic growth while helping drive the global transition toward green, intelligent energy.”
As Jinan positions itself as a hub for new-quality productive forces, entrepreneurs like Yu Peng and companies like Ean New Power are proving to be both the beneficiaries and the contributors to the city’s forward-looking strategy—an embodiment of how innovation and industry can rise together.