JDEnergy Secures RMB 300 Million Series C Financing; State-owned Capital Boosts the Industry
On December 29, 2023, Xi’an JDEnergy Co., Ltd. (hereinafter referred to as JDEnergy) announced the successful completion of its Series C financing, raising a total of RMB 300 million. The financing was jointly led by BOCOM Financial Assets Co., Ltd. and CCB Financial Assets Co., Ltd., with follow-on investments from CIMC Capital Management Co., Ltd. and Guangzhou Industrial Investment Private Equity Fund Management Co., Ltd.
JDEnergy launched its Series C financing in July 2023, which garnered extensive attention across the industry after initiation. The energy storage sector faces fierce competition, and enterprises in the industry must embrace survival of the fittest and pursue high-quality development. Boasting leading products and market performance as well as sound growth momentum, JDEnergy won favor from state-owned capital. Closing this round of financing amid a sluggish capital market serves as a strong boost to the energy storage industry.
Founded in 2018, JDEnergy is committed to technological research and product development of core equipment for advanced energy storage systems, delivering industry-leading solutions to advance the global carbon neutrality goal. Powered by its self-developed 3S control-protection integrated distributed smart energy storage system, JDEnergy has grown into a leader within the energy storage industry. Currently, the company has built capabilities covering the R&D, manufacturing and intelligent operation & maintenance of battery PACK, BMS, PCS, EMS and the integrated energy storage product eBlock. It has realized the transition of energy storage development from engineering to productization, and is the first enterprise in the industry to supply standardized energy storage products to customers. Adhering to the philosophy of sustainable development, JDEnergy provides customers with comprehensive overall solutions for energy storage power stations and one-stop energy management services, covering application scenarios including industrial and commercial energy storage power stations, solar-storage charging stations and new energy storage power stations. The company strives to promote the application and popularization of green energy and contribute to the global energy transition.
Figure 1: JDEnergy Guigang 144MW/288MWh Wind-Solar Energy Storage Project in Guangxi
The successful financing round reflects recognition and trust from state-owned capital. As strategic industrial partners of JDEnergy, BOCOM Investment, CCB Investment, Guangzhou Industrial Investment and CIMC Capital offer robust financial support and resource integration to jointly fuel the rapid growth of JDEnergy. This financing will further strengthen JDEnergy’s capacity for R&D innovation and market expansion, laying a solid foundation for the company’s future development.
Liu Weizeng, Founder and Chairman of JDEnergy, stated: “The rapid development of the energy storage industry relies heavily on national support. We will keep working to develop highly reliable and efficient green energy solutions, consistently deliver energy storage system solutions with the lowest levelized cost of electricity for customers, and advance the sustainable development of global energy undertakings and the earth’s ecological environment.” Fu Guoli, CFO and Secretary of the Board of JDEnergy, commented: “Global carbon neutrality brings enormous development opportunities for Chinese energy storage enterprises. Focused on the energy storage sector, JDEnergy provides customers with efficient and reliable energy storage solutions. The capital market holds long-term optimism for the energy storage track and JDEnergy’s growth. This round of financing injects stronger momentum into JDEnergy’s accelerated development. The company will reward shareholders and society with improved operating performance and upgraded products.”
“Green development is not merely a concept, but also a practice. We highly recognize JDEnergy’s innovations in core technologies. We look forward to JDEnergy achieving greater success and making new and larger contributions to the development of global carbon peaking and carbon neutrality economy,” the investment institutions participating in this round expressed full confidence in JDEnergy’s prospects.
Figure 2: JDEnergy Fully-automatic PACK Production Line
Up to now, JDEnergy has completed six rounds of financing successively and continuously attracted like-minded partners in the energy storage industry, expanding its lineup of strategic investors. As global demand for renewable energy keeps rising, the theme of World Environment Day — Many Species. One Planet. One Future — represents a shared aspiration of all humankind. As an enterprise with social responsibilities and missions, JDEnergy will continue to shoulder its fiduciary and moral responsibilities to the planet and the environment. Beyond developing products, JDEnergy also pursues happiness and wellness. Through its efforts, JDEnergy pursues intensive, efficient, waste-free, harmless and pollution-free green development. Meanwhile, it actively develops and applies green technologies to build a green product production chain for the benefit of society and nature.
