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Yuanhe Energy, a Leader in Modular Energy Storage Systems, Completes Tens of Millions of RMB in Pre-A Round Financing
2023-06-08
Yuanhe Energy, a leader in modular energy storage system products, announced the completion of a tens of millions of RMB Pre-A round of financing, exclusively invested by GCL Zaishi Capital, with Aurora Capital serving as the exclusive financial advisor for the long term. The funds raised in this round will be used for new product R&D, production capacity construction and operation.
Founded in May 2022, Yuanhe Energy is mainly engaged in the R&D, production and sales of large-scale energy storage system integration products, commercial and industrial energy storage products, hybrid power and other segmented energy storage products, as well as digital energy products. It also provides development, construction, operation and value-added services for energy storage power stations. The core team has rich experience in domestic and overseas energy storage projects, being among the first batch of teams in China to deeply participate in thermal power frequency regulation projects. It has delivered dozens of domestic thermal power frequency regulation projects, and led the completion of several national-level energy storage projects in Hokkaido, Japan, Thailand, Indonesia and other regions. The team has profound accumulation in energy storage system integration technology and a deep understanding of energy storage application scenarios.
With the growing global demand for renewable energy, energy storage systems have become a key technology to ensure the continuous supply and stable operation of energy, and are accelerating to grow into a trillion-scale market. However, current energy storage products still face challenges such as high operation and maintenance difficulty, high comprehensive cost and stringent safety requirements, which put forward higher demands on integrators in terms of technological innovation capability, project delivery capability and customer service level.
Adhering to the product philosophy of making electricity cleaner and energy smarter, Yuanhe Energy has pioneered a non-enterable modular compartmentalized platform product. At present, the company has developed and delivered the eMetaCube series products. The eMetaCube adopts a non-enterable modular compartmentalized design and containerized architecture; it is equipped with multiple fire protection measures, AC-DC decoupling, and is compatible with string and centralized inverters as well as 1000VDC and 1500VDC voltage platforms; its temperature control system is deeply integrated with eMetaEMS, enabling cluster-level independent temperature control; the design life of equipment outside the battery cells is as long as 20 years.
In terms of safety, the eMetaCube can realize millisecond-level full-station monitoring of gigawatt-hour power stations through edge AI and intelligent controllers, and adopt multiple fire protection measures including distributed fire protection, millisecond-level electrical and physical compartment isolation, and electrical safety isolation, providing a strong guarantee for safe operation.
In terms of temperature control, Yuanhe Energy grows together with ecological partners. Among them, the independently developed temperature control system of the ecosystem has achieved full coverage of air-cooled and liquid-cooled units, and related products have been mass-delivered in independent energy storage, thermal power frequency regulation, user-side and commercial & industrial energy storage projects. The Yuanhe Energy eMetaCube product is equipped with a temperature control system deeply integrated with EMS software, which can achieve cluster-level independent temperature control, with the temperature difference of liquid-cooled packs controlled within 3℃ and the cluster temperature difference not exceeding 5℃.
- For Grid-source Side and Other Large-scale Energy Storage Systems
Yuanhe Energy’s eMetaCube adopts a high-standard non-enterable modular compartmentalized 5-foot container design, downsizing the traditional 40-foot container to 5 feet, which redefines containerized energy storage products. This design significantly cuts down the time and capital costs spanning from design and manufacturing to installation, helping customers reduce costs and enhance efficiency. Each 5-foot container is configured with two compartments. Between any two compartments/containers, high-quality fireproof materials are standard-equipped and sufficient air gaps are reserved, ensuring fire-resistant isolation for more than 3 hours. Containers are connected via classification society-certified connectors to link multiple units together. Four 5-foot containers can be assembled into a 20-foot container, which allows for integral hoisting or separate hoisting of individual 5-foot containers.
- For Commercial and Industrial Energy Storage Systems
Yuanhe Energy has developed the eMetaCube Mini product line. Over 100 units of the first-generation Mini product, the HP1 series, have been delivered. The second-generation Mini products, including the HP2 series and VP series, are scheduled for mass delivery by the end of June 2023. The HP2 series adopts a high-voltage die-cast aluminum liquid-cooled pack housing; the 100kW/215kWh product only covers an area of 1.25 square meters. The VP series leverages the company’s independently innovated vertical VP energy storage technology, which ensures that battery capacity remains unaffected while the size is reduced. This technology boosts production efficiency by 30% and energy density by 20%. Its unique pull-out design addresses the operation and maintenance challenge posed by the heavy weight of liquid-cooled battery packs, and modular expansion can meet diverse customer needs. As a platform-based product, Yuanhe Energy’s innovative VP energy storage technology won the Technology Innovation Award at the 7th International Energy Storage Innovation Conference (ESIC2023) hosted by the China Energy Storage Alliance in April 2023. This technology will also be applied to multiple future product lines of the company.
Drawing on the team’s years of valuable experience accumulated in domestic and overseas energy storage markets and its precise understanding of energy storage application scenarios, Yuanhe Energy has developed the eMetaControl energy storage power station control system based on decentralized industrial controllers, achieving deep integration and seamless coordination between software and hardware systems and energy storage application scenarios. eMetaControl integrates algorithms for different scenarios, supports compatibility with multiple operating systems including Linux and Windows, and complies with various mainstream communication protocols (such as IEC61850). It features integrated control of peripheral equipment (temperature control systems/fire protection systems/video systems), remote operation and maintenance, and local SCADA functions. It supports intelligent energy management and provides safer, more efficient, stable, and intelligent energy storage system solutions.
Looking ahead, the company will continue to increase R&D investment to create world-leading energy storage system solutions. Meanwhile, it will accelerate full-scenario coverage including independent energy storage, new energy supporting facilities, and commercial and industrial sectors, as well as overseas market expansion. With innovative products and high-quality services, Yuanhe Energy is committed to helping the world achieve energy structure transformation at an early date.
Xia Zhongbao, Partner of GCL Zaishi Capital, commented: “The proportion of new energy installed capacity and power generation is rising steadily. As the reservoir of the new-type power system and new energy, energy storage is fostering a trillion-scale market space amid the triple-digit growth of global energy storage installed capacity. Benefiting from the promotion of new energy mandatory supporting policies and time-of-use electricity pricing in China, the market is in a period of rapid expansion. The Yuanhe Energy team has rich R&D and project delivery experience in the large-scale energy storage sector, having completed the delivery of nearly 100 domestic and overseas energy storage projects and accumulated abundant upstream and downstream resources in frequency regulation, commercial and industrial sectors, and hybrid power segments. Based on the strong technical strength, industry and market experience of the founding team, GCL Zaishi Capital hopes to leverage its long-term accumulated experience and industrial resources in the energy storage industry to maintain close cooperation with Yuanhe Energy, making electricity cleaner and energy smarter.”
Xue Ling, Managing Director of Aurora Capital, stated: “Yuanhe Energy has been deeply engaged in the energy storage industry for many years, boasting a team of interdisciplinary experts with successful entrepreneurial experience, solid technical capabilities, and an international perspective, as well as rich experience in delivering domestic and overseas energy storage projects. The company has successfully applied its independent technologies and engineering integration experience to the R&D and implementation of standardized energy storage products, demonstrating market-leading innovation capabilities in modular components, temperature control management, and electrical control technologies. Aurora Capital highly recognizes Yuanhe Energy’s entrepreneurial spirit and industrial accumulation, and is honored to serve as the exclusive financial advisor for the company’s current financing round and to cooperate with it once again. We look forward to Yuanhe Energy making steady progress across different fronts, achieving continuous new breakthroughs, and making outstanding contributions to the global dual-carbon goals.”