Zhonghai Energy Storage was established in 2020, targeting the field of large-scale long-term energy storage and focusing on the research and application of iron chromium flow battery technology. The independently developed iron chromium flow battery technology has solved the problem of large-scale integration of renewable energy into the grid. The product has been selected as the first (set) major technical equipment in the national energy field and has been awarded the titles of "National High tech Enterprise" and "Beijing Specialized, Refined and New Enterprise".

In April, Zhonghai Energy Storage announced that it had won the bid for the 50MW/300MWh independent new energy storage power station project in Huiyang District, with a total investment of nearly one billion yuan. At present, CNOOC Energy Storage has formed a nationwide industrial layout with its Beijing headquarters as the core, with an annual production capacity of 1GWh, and plans to build industrial bases in multiple locations.