<img src="https://ml.globenewswire.com/Resource/Download/2c4b5a99-b634-4b28-a66b-4d48de114a58?size=2" nborder="0" align="left" hspace="5" vspace="5" title="quino logo v2 transparent background.png" alt="Quino Energy"/>The microgrid, which will feature a floating PV array and lithium-ion batteries in addition to Quino’s technology, will dramatically decrease Himandhoo Island’s reliance on imported diesel fuelSAN LEANDRO, Calif., June 25, 2026 (GLOBE NEWSWIRE) -- A release issued under the same headline on June 24 by Quino Energy incorrectly identified the EPC for the flow battery project at Himandhoo Island. It was actually the EPC for the POISED project at the same island. The corrected release follows: <a href="https://www.globenewswire.com/Tracker?data=tbFDOVP8SAE3aySKVFm5ulW6qL4wvRZD6M8BAnUQkyB86Ou99FB3rCOXRt56_N_PHQZsMgzvxJsJxo6Z3cvI_9eC19nCfK6UD0ntkt7Phky9w26aDeRB5otXBdQVYP76VSSWLFUfqUmGUz9BtAmBtv6b8b7xjxZp9RX-mzmjl-mynWWyGK-8uPtw5_0km51FOmxhafxJAWH5yB6Iq-8c6I-8WKIAIVkwdP8_R3F3CCs=" rel="nofollow" target="_blank" title="">Quino Energy</a>, a company developing water-based organic flow batteries, has been selected by <a href="https://www.globenewswire.com/Tracker?data=7d1q4E1iRPGgvMRqTkIpT5iGutQPOsZZuvSuCZZIoDk2iReB_0R7Vh4AkXI6LVUQ8rQ-thdz_ldVxQFwV-2r-g==" rel="nofollow" target="_blank" title="">Tencent</a> for a grant, under its <a href="https://www.globenewswire.com/Tracker?data=KCbYfsOyDbrjXMv48WvSnd2QGyZz_hsne_rzcJgLADkzmaz4lItFRVmlty2CNxPwepG89686qL3LFxbbh16B1A==" rel="nofollow" target="_blank" title="">CarbonX</a> program, to fund development of a MWh-scale battery system to demonstrate reliable clean energy generation for Himandhoo Island in the Maldives. The battery will be integrated into a larger microgrid featuring floating PV generation financed by the <a href="https://www.globenewswire.com/Tracker?data=SQCFMAcFU0YPDLjn3hTeadPDTagAhP5tvlumK0Adoe-5sjmC8Xdf5Np8gP_9VCOsOwP5atz_BlYO0uNVCqiLtqu9UnmPaSPlk7FJu4SJSos=" rel="nofollow" target="_blank" title="">Asian Development Bank</a> and will complement the ongoing <a href="https://www.globenewswire.com/Tracker?data=UayKPk2G1gjAUj7IyNE4FMI_LvLgHgXtfTjxCiCXW2OhRBLuv7YHuhaa_YlXPzcbSuXoFMnYVcoDab1BytJyWhCKFaH3Vbg2WdnDQGnLmcdxQs4ylGOnpKto93KEaY2jejmauTd-tMv8KyhLRiwLXJWb3sGYkdLFOs2HeFlcy_o=" rel="nofollow" target="_blank" title="">Preparing Outer Islands for Sustainable Energy Development</a> (POISED) project that will install terrestrial PV and lithium-ion batteries on the island. The Quino Energy battery will provide the microgrid with essential energy storage capabilities to slash reliance on expensive imported diesel to generate electricity, reducing costs while providing a resilient power supply to the island. This energy supply will be critical to the island community’s safety and ability to continue daily operations in the face of extreme weather or fluctuating energy demands. The project will be supported by <a href="https://www.globenewswire.com/Tracker?data=3Guz_v8yFefpmbSzn8bYCAwYzx6LfV4uvFThPqw3Kdwn7zNlsupw4Z8obGzohdjuAuuNXhj6ka7rD6ylJLEP-qKG1wt4kB2f7g2eTuHESao=" rel="nofollow" target="_blank" title="">Atri Energy Transition</a>, which led Quino Energy’s Series A fundraising round in October 2025. They will be collaborating with Quino Energy to manufacture the proprietary organic electrolyte in nearby Pune, India, and will also provide Operations and Maintenance (O&amp;M) support for the battery system at Himandhoo Island for at least five years after commissioning. <a href="https://www.globenewswire.com/Tracker?data=2TcM85m3N7dHhwHynNksAapDtljrjwOzse_9WWsSYee4bWZ3oWM_piPkxLt6JAMOHAxaGl4X1H68l43-G9Kphce9aAkuwJBHM1ceStriUJ4ov8imVntS-BF2-koq1rSz" rel="nofollow" target="_blank" title="">Suqian Time Energy Storage</a> will provide the flow battery hardware. Earlier in the month, the entire project team visited Himandhoo Island and met with representatives from the local council, as well as other representatives from the <a href="https://www.globenewswire.com/Tracker?data=Ocjr0yN7FMGCMYO-xywOX5rtobrnszLx9_2ZmnFrzrP1hfxrAbpvOTXKHKNvmbOAI4MuXTiL-YmZX2xt0oZQM5AaGOgQwJi_vMl9VLqT6IYNK38MwOkFDCnRmjShlwITVrEbip9Lp7aDQ7cZZ5Jp9kUAOYVNlUkNWa5OPNf93Rw=" rel="nofollow" target="_blank" title="">Maldives Ministry of Climate Change, Environment, and Energy</a> in the capital, Malé. “Quino Energy is immensely grateful for the support from the Tencent CarbonX program to enable us to demonstrate our organic flow battery in a setting that can directly benefit a community,” said Eugene Beh, CEO and cofounder of Quino Energy. “This represents the first commercial deployment of the organic flow battery technology, in addition to government-supported projects we previously <a href="https://www.globenewswire.com/Tracker?data=Cugj1Pxfp04HBOuYnfJ1U0VENGOPuA4Sug602idV9nuAQhVBU8Pq5mM3hPUPqQCuufZAGYhXxRRwq9oE4u9tG9wrRimDr7IYlonXQlpMO3xw-3Zu31vRb6ERex4eV65swSvkigXldDHlhyN5QXF9qiEy1AeR9KHvllS7yaXTtcnB5-K2wt8oGbjvp-KlMR_au2TwU5K4IaNdswqQ0EY6RuNV-zbSsleeiZsWwrFjTvecSJ0VJoMrhwllfqApeZ9p0GHtBhi4R2rOrgOotXlBaO4d2LulC9TZmnSG3bRVtzo=" rel="nofollow" target="_blank" title="">announced</a>. The collaboration showcases how Quino’s technology will continue to enable cooperation between parties from across the world to rapidly advance the next generation of flow batteries.” “We’d like to extend our congratulations to Quino Energy and all the stakeholders of this project,” said S. Kishore, founder of Atri Energy Transition. “The selection of Quino by Tencent for the CarbonX Award is an endorsement of organic electrolyte chemistry. We are happy to be part of the transition of this chemistry from pilot to commercial scale.” CEO Eugene Beh will attend the CarbonX Award Ceremony today, June 24, organized by TED Countdown, in tandem with London Climate Action Week to accept this grant. In the past 18 months, Quino Energy closed its <a href="https://www.globenewswire.com/Tracker?data=k6SLiQTO6rpy70EmhS6DWU3SV4ns5JdsFB1Z7mahnRmzkOEBwyyMu8wOe16Lft9VeEpAE7I513A1Pmg-lYxJe8BcuN4Fhnp77-w4CPl1YFkMkM_ARkpBXrM0WLAxt0_E4hHxaBYI-R1Pm3_MI_RDsG1OiPOEyUPgPNnpH4byVOBY_bXxHKM2ehXRKYJiz457vMnCe5mcneESGsY_nJc3xQ==" rel="nofollow" target="_blank" title="">series A funding round</a>, led by Atri Energy Transition, received a <a href="https://www.globenewswire.com/Tracker?data=tF9an_e5aYpae5GlGud_2bFbPfdix2vfgqaeXD4103a4ox1qS5L1Gdwmexfyb42FBi15f43G6IDXKL4y_46I7Hd2LpxRGNJ-7FtVNIIhWlmch2oxeFMIDtnYWhEjP7Hk5OVliUQmtvWk8sbySsn7mGdDydJo1HZKtcyP6Vwx2rUp0kDy0dxZywd9IlJUAE6Fn-36tdMgJAwcvmLdZEw1z2cgVGgsRNzZe2OJoEqRsKkLqVFeMZvnojJo_jD19OhYRp1OTEKCwqfp1nEFR9t40RFWLgACjbGimnIDUtftsZRM_fOxSbDaSHya4zr9kysv7GUAKJq2uRH5t0QFzPKON4ZT59v884tN8UaklWjkHekF_QFTsLZXS_NFl-1SLJUFo9O6Po_VKHZ6KvM8Jez1PSvkS41P8gbvs0uY_8hKBmn426la48lALXVzjMlzXTl_d9j5cgEwRQadma3eBOR48LEBDw_o0idMrJdUiRfrjsq2X66NmVXNhIyTvFR2-XDrXJbJHdTzfVHIXSRli33qmeO4IkqYkDT4KQH9L6mhOlCx7JstZq4JbRLm9EVa7-yuxnV0J8DZMUX8ayjUluGr6A==" rel="nofollow" target="_blank" title="">$10M grant</a> from the California Energy Commission and secured <a href="https://www.globenewswire.com/Tracker?data=XtzPyB6mrov3_ogNFizxGezJKsWM_bQ0NFD-dVklcQDreRoAXDIETyEBd9e0Yg91X1Z6DUjXSoEhIQTAZJjEeKMq3FBK5WoHQZl0qDLrVtgWBFXrRg0bKAXDGqHDy6D-019UzOY_MUzOrvcWLfBOldhmid_3N2gLIiO1mo08CgBjUYki_WaltlZH-_jE3HVrLFkqCgfm4SJppPtKIvZv3UQb7AptcrHs7mPkfThN7QwY66uvorj2E2HHrE4Vh0fw956uePP-61Q2cQEpMVn1YLRHl4urhEm3NYrUbeNOEDf4qH7x-P9Gy-dKZdefQK4aTRJuIyx5ZIDBarR6GMrojGGL5NTmW7jgXbd6jNVF4VcyPPaq75brSTgCSsiloOZb0wYjhThgHqmnmbK8T-roZQ==" rel="nofollow" target="_blank" title="">$5M in funding</a> from the U.S. Department of Energy’s Critical Facility Energy Resilience (CiFER) program to support a 5 MWh flow battery deployment in Southern California. Quino Energy also signed a Joint Development Agreement with <a href="https://www.globenewswire.com/Tracker?data=zQvKEgMR90kUwATdUatVcvBeTgmNbyxTsK3WOigp9CaAiAd3PK7A_6pR7oDJH_3hO_HE8o5V-QS57QO9l07U0GWYQrd8dXRcOLu1UEgMMM13YibFDxrJC6exz_9AgYwMBV9Vh0v0aYNKwD4xHKLwYw==" rel="nofollow" target="_blank" title="">Jena Flow Batteries</a>, whose parent company Suqian Time Energy Systems is the flow battery hardware provider for the Himandhoo project. About Quino Energy Formed in 2021, Quino Energy is a start-up company that is developing water-based flow batteries that store electrical energy in organic molecules called quinones, for commercial and grid applications. These batteries are predicted to enjoy a unique combination of low capital cost, true fire safety, rapid scalability, and local manufacturability. This is made possible by a number of technological breakthroughs, some of which were first discovered at Harvard University and later licensed by Quino Energy. Please visit <a href="https://www.globenewswire.com/Tracker?data=FM6262A_MMedmCjEvihDcPFakd6-hYno0jEVmzNXoe7lkyoTX_pfwwjx-LdMqlXF-xiuVEV_pA6l48jzyHDmCm8thAAL6TjrtuxPdN_jT4w=" rel="nofollow" target="_blank" title="">quinoenergy.com</a> for more details on the team and the technology. For media inquiries: <a href="https://www.globenewswire.com/Tracker?data=FM6262A_MMedmCjEvihDcJxVcUi8hsiv3_p-V66HnFE6HCz__94bKlsjfxT3SCivWqsuY1Um4Tztjgw1hYt6L6znOgbshxOpgyCxHkGW8Nw=" rel="nofollow" target="_blank" title="quino@fischtankpr.com">quino@fischtankpr.com</a> About CarbonX The CarbonX Program was initiated in 2023 by Tencent, together with industry, investment, and ecosystem partners. It is dedicated to supporting emerging low-carbon technologies with substantial catalytic funding and resources. Now in its second phase, CarbonX 2.0 focuses on cutting-edge CCUS, carbon removal, and long-duration energy storage technologies, and solicits proposals from early-stage teams around the world. It aims to build first-of-its kind pilot projects in real industrial settings, incubate high-potential startups, and support capacity building projects. Visit the CarbonX website for further information on the program. About Tencent Tencent is a global technology and entertainment company focused on creating connections and experiences that matter. Founded in 1998, Tencent is driven by its mission to create "Value for Users" and apply "Tech for Good". Tencent's communication and social services connect more than one billion people around the world, helping them to keep in touch with friends and family, access transportation, pay for daily necessities, and even be entertained. Tencent also develops and publishes some of the world's most popular video games and other high-quality digital content, delivering rich and immersive interactive entertainment experiences. Tencent also offers a range of services such as cloud computing and other enterprise services to support our clients' digital transformation and business growth. Headquartered in Shenzhen, Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since June 2004. <img alt="" src='https://ml.globenewswire.com/media/MzNlNzczNDYtZTgwMy00NGQzLWI5NjgtNThmZTMzMTNiMDZmLTUwMDEyMjkwMC0yMDI2LTA2LTI1LWVu/tiny/Quino-Energy.png' referrerpolicy='no-referrer-when-downgrade' />

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CORRECTION - Quino Energy Receives Award from Tencent’s CarbonX Program for a MWh-Scale Island Microgrid Project in the Maldives

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