Zhejiang Zhentai Energy Technology Co., Ltd. raised a pre-A round financing of around CNY100 million，which is led by Glory Ventures and WZ Group.
This round's primary purpose is the commercializating of their proprietary high-temperature fuel cells technology, also known as Solid Oxide Cells (SOCs). The funds will be used for the production and key equipment of SOCs together to support the development of new low-cost integrated long-duration energy storage technologies.
GloryVentures will keep focusing on investment opportunities related to low-carbonization in Chinese industrial upgrading. We look forward to Zhentai Energy’s promotion of their large-scale demonstration and implementation of original SOCs technology and its deriving effect upon the commercialization of hydrogen energy for long-duration energy storage. These innovative and efficient energy conversion technologies have the potential to drive significant progress in accelerating and upgrading the green and low-carbon transformation of the energy sector.