This round of financing will be used to continue to improve corporate governance mechanisms, strengthen talent support, and enhance R&D and innovation capabilities. Once the financing has been completed, the post-investment valuation of Shanghai Electric Energy Storage will exceed
"Moving forward, Shanghai Electric Energy Storage Technology will continue to solidify its development positioning and step up as a global leader in long-term electrochemical energy storage," said
After over a decade of developing world-class technology and three years of rapid industrialization, Shanghai Electric Energy Storage Technology clearly stands out in the field of long-term energy storage, achieving functional product development, reliable manufacturing, and intelligent operations and maintenance. The kW-level and MW-level flow battery energy storage products independently developed and produced by the company can be widely used in new energy power generation and grid connection, grid-side energy storage, distributed smart microgrids, and other fields. It has successfully developed 5kW/25kW/32kW/65kW series stacks and delivered more than 50 vanadium redox flow battery (VRFB) energy storage projects.
To date,
With this newfound financial backing, Shanghai Electric Energy Storage is laser-focused on propelling the research and development of groundbreaking systems, expanding their production lines, and spearheading the construction of 100-megawatt projects. Additionally, the company aims to forge deeper industrial collaborations and expedite the industrial upgrading process, solidifying its position as an industry frontrunner.
Looking ahead, Shanghai Electric Energy Storage is already setting its sights on launching a Series B financing campaign in 2024. Furthermore, the company anticipates initiating the listing process on the esteemed Science and Technology Innovation Board in 2026, further cementing its position as an industry leader.
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