Zhejiang Longneng Electric Power Technology Co., Ltd. announced that it has received CNY 435.37333 million in funding from Wolong Electric Group Co.,Ltd., Muyuan Industrial Group Co., Ltd., Guangzhou Chaohui Investment Partnership Enterprise (LP), Shaoxing Fuyue Private Fund Management Co., Ltd.

Wolong Electric Group Co Ltd is a China-based company principally engaged in the design, production and distribution of electric motors and control equipment, transformers and storage batteries. The Company's main products include high-voltage motors and drives, low-voltage motors and drives, Witt motors and controls, transformers and batteries. The Company is also engaged in the trading business. The Company distributes its products within domestic market and to overseas markets.