Tuya Smart (NYSE: TUYA, HKEX: 2391), a global IoT development platform service provider, announced a partnership with Yiyen Electric Technology Co., Ltd (Yiyen) to enable customers to provide their users with an all-in-one smart energy management system that integrates energy storage, charging and energy usage capabilities. In addition, Tuya will provide Yiyen with advanced smart equipment for energy storage and work together with them to promote the usage of sustainable energy for a brighter future.
With the support of Tuya House & Community and Yiyen’s household energy storage products, both parties will provide families with equipment, software controls and construction services to help them live more sustainable lives. With the solution’s device-level data acquisition and analysis of household energy consumption habits, it can inform households on how much energy they have generated, used, stored, and saved. It can also inform families about superior energy-usage strategies that can help them use energy more efficiently and reduce power consumption across their homes.
Across the industrial and commercial scene, by integrating Tuya Commercial Lighting & Building solution with Yiyen’s energy storage products, both Companies will provide industrial and commercial users with a one-stop smart energy management solution. By taking multiple electricity prices in different periods into consideration, it can draw efficient energy usage strategies for managers to help them reduce energy consumption, lower emissions as well as reduce the usage of electricity across the board.
Tuya’s smart industry solutions will enable Yiyen to achieve smart and visual management of multiple energy storage units and energy storage systems. It will also help Yiyen improve their energy management, increase the efficiency of their energy operations along with helping them promote the development of the energy storage industry.
In the future, Tuya will continue to deepen its collaboration with Yiyen and devote more efforts and resources to develop the IoT ecosystem and implement more smart energy solutions across various industries. For example, both parties are planning to provide the overseas RV market with a smart energy management solution, which will help users solve practical energy problems, such as high energy consumption rate of devices, unreasonable energy distributions, and incomplete energy storage systems.
"Tuya is delighted to collaborate with Yiyen to jointly promote the household energy storage and industrial and commercial energy storage markets. This will further improve service capabilities across smart energy management solutions, which will help create a greener and more sustainable energy management system. By leveraging Tuya’s IoT development platform and Tuya’s global experience, coupled with Yiyen’s overseas channels, both parties will further enable global customers to provide high-standard and reliable smart energy management solutions that can be quickly deployed across smart energy management systems for overseas households and industrial and commercial users. All of this will promote the development of sustainable energy across the IoT industry," said Eva Na, the Vice President of Marketing and Strategic Cooperation, and CMO of Tuya Smart.
"Since 2015, Yiyen has started to build out sustainable energy solutions across the global IoT industry. Tuya’s technologies will provide more possibilities for Yiyen’s energy storage business. Both parties will jointly explore the global market so that innovative smart energy management solutions can quickly penetrate the market of household energy storage and industrial and commercial energy storage. Furthermore, the applications scenarios will boost the technology iteration and upgrading of the energy storage industry, improve the complicity of the energy IoT industry, promote more industries to realize energy transformation, and achieve a win-win situation for everyone." said Xia Hongfeng, the Chairman of Yiyen.
Founded in 2008, Yiyen is a high-tech enterprise dedicated to the research and development and intelligent manufacture of electronic and electrical technologies, providing core power equipment and system solutions for the energy IoT industry. The company is at the forefront of the electrochemical energy storage field and the RV inverter market. Its independently developed EMS, PCS, BMS and other systems have taken the lead in passing the CE, UL, TUV, CQC and other international certifications. Its overseas channels cover more than 130 countries and regions around the world and have a leading position in the international market.
As the core for many IoT industry applications, energy storage will bring a more complete energy management solution for smart home, smart building, and smart industry sectors. In the future, Tuya will continue to give play to its innovative technology and large ecosystem, attract more customers from the energy industry to join the construction of energy IoT, enable them with Tuya’s software technology, jointly help the integration of smart energy management to more industrial scenarios, to stimulate vitality for the various industries, and to achieve sustainable development.