In October 2021, the "CO2 compression energy storage system verification project" initiated and constructed by Compressed Carbon Energy commenced construction at the Bajiao Well Base of Dongfang Turbine Co., Ltd. This project has an energy release power of 1 0MW, an energy release capacity of 20MWh, and an estimated construction period of 8 months.

During the "World Clean Energy Equipment Conference" held from August 27th to 29th, 2022, the "CO2 compression energy storage system verification project" will be a prominent display project featured by the organizing committee. It will undergo on-site inspections by government leaders at all levels, renowned domestic and international experts and scholars, industry associations, representatives of energy companies, media reporters, and professional audiences.

The successful implementation of the "New Carbon Dioxide Compression Energy Storage Verification Project” signifies the transition of Compressed Carbon Energy CO2 compression energy storage technology from long-term research and development to practical engineering application. This achievement establishes a solid foundation for this technology to play pivotal role in the construction of China’s new energy system.

In May 2022, Compressed Carbon Energy Conch New Energy, Three Carbon Research Institute, and Wuhu Conch, a subsidiary of Conch Group, officially signed a contract for the "world's first new CO2 compression energy storage commercial demonstration project."

The project is located at the factory of Wuhu Conch Cement Co., Ltd. in Fanchang District, Wuhu City. It has an energy release power of 10MW and an energy storage and release time of 8 hours. It is one of the energy storage projects with the longest energy release time in China. By accurately aligning with the peak and off-peak power consumption periods in Anhui Province, the project effectively reduces the pressure on the power grid for peak regulation, helps users reduce electricity costs, and increases the share of new energy power consumption. 

This demonstration project marks the world's first commissioning of a new type of CO2 compression energy storage system. It shows significant demonstration effects in the field of energy storage, including the exploration of CO2 compression energy storage technology characteristics, the long-term demonstration of the energy storage system to effectively alleviate the peak-shaving pressure on the power grid, the demonstration of the green economy in the cement building material industry through the use of long-term energy storage systems, and the demonstration of enhancing China's comprehensive energy utilization rate by utilizing the low-quality waste heat from the cement building material industry. The project is planned to be connected to the grid and put into operation by the end of 2022, which will have a significant impact on the development of the energy storage industry in our country.