Recently, Zhonghai Energy Storage Technology (Beijing) Co., Ltd. (hereinafter referred to as "Zhonghai Energy Storage"), a portfolio company of Nanjing Yuanjun Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Nanjing Yuanjun Fund")—a cooperative sub-fund of the Venture Capital Group—announced the completion of a Pre-A++ funding round exceeding RMB 100 million.

Founded in 2020, Zhonghai Energy Storage focuses on large-scale long-duration energy storage, specializing in the research and application of iron-chromium flow battery technology. Its self-developed iron-chromium flow battery technology addresses the challenges of integrating large-scale renewable energy into the grid. The company's products have been included in the National Energy Sector's First (Set) Major Technical Equipment Catalog, and the company has been recognized as a "National High-Tech Enterprise." Recently, Zhonghai Energy Storage announced winning the bid for the Huiyang District 50MW/300MWh independent new energy storage power station project, with a total investment of nearly RMB 1 billion. Currently, the company has established a nationwide industrial layout centered around its Beijing headquarters, with an annual production capacity of 1GWh and plans to build industrial bases in multiple locations.

Nanjing Yuanjun Fund was established in June 2021 with a scale of RMB 2.405 billion. The Venture Capital Group, through its entrusted management of the Nanjing Emerging Industries Development Fund, invested in this sub-fund in 2021. The fund is managed by Lhasa Yuanchi Investment Management Co., Ltd., and primarily invests in industrial digitalization, artificial intelligence, advanced manufacturing, and other related fields.

Source: Fund Department, Gong Yuxiang
Reviewed by: Xue Yao
Published by: You Yi