China National Energy Storage completed a pre-A+ round of financing of 320 million yuan to accelerate the layout of new energy storage technology industry

Recently, China National Storage and Energy Technology Co., Ltd. (hereinafter referred to as "China National Storage and Energy") received a 320 million yuan Pre-A+ round of financing led by China Control Fund. In addition to the continued follow-up investment by old shareholders such as China Science and Technology Innovation Star, CMB International, Lenovo Star, and Puhua Capital, other institutions participating in this round of financing include Gaorong Capital, Three Gorges Energy, Cuiwei Group, China-Belgium Fund, and Xinding Capital.

China Energy Storage is a pioneer and leader in China's compressed air energy storage field, and is in an international leading position in the field of large-scale compressed air energy storage. Its core technology comes from the Institute of Engineering Thermophysics of the Chinese Academy of Sciences, which is the earliest institution in my country to engage in the research and development of large-scale compressed air energy storage technology. It has successively developed and built the world's first 1.5MW, 10MW and 100MW advanced compressed air energy storage demonstration systems. The system performance indicators are better than those of international compressed air energy storage systems of the same scale. It has obtained more than 300 authorized patents (including 20 international patents) and published more than 400 papers. The number of patents, SCI papers and citations in the field of compressed air energy storage ranks first in the world. In March 2022, the "100MW Advanced Compressed Air Energy Storage Technology Industrialization" project team won the "Special Award for the Transformation of Scientific and Technological Achievements of the Chinese Academy of Sciences in Beijing". At present, the company's total installed capacity of projects under construction and planning is about 2070MW.

China Energy Storage has actively responded to the country's call to "increase research and development efforts in technologies such as 100-megawatt compressed air energy storage, actively explore commercial development models, gradually reduce energy storage costs, and carry out large-scale energy storage pilot demonstrations" to accelerate the layout of the new energy storage technology industry.