Hydrogen fuel cell company completed its angel round worth tens of millions of CNY, led by Unity Ventures. The company reduces the cost of making hydrogen fuel cell engine system the transformation of Integrated Electronic Control Architecture.
Suzhou Suyu Technology (Chinese: 溯驭技术), a manufacturer of the overall solution of hydrogen fuel power system, bagged tens of millions of CNY from its angel round today, led by Unity Ventures, with participation by K2VC, news portal 36kr.com reported.
This round of financing will mainly be used to develop an integrated hydrogen fuel cell power pack under a new generation of integrated electronic control architecture. The company is also preparing for its pre-Series A financing round.
Dong Zhen, the founder of Suyu, said that the high cost of the system is a key reason why the hydrogen fuel cell has not yet been commercialized widely. Therefore, it is the cost reduction problem of fuel cell engine system that Suyu is working on.
Suyu integrates all the sub-controllers in the hydrogen fuel power system into a unified central brain, transferring the controller research and development tasks to system integrator from blowout preventer (BOP) manufacturers, Dong Zhen said.
This centralized architecture design is not simply stacking and centralizing, but requires building a complete integrated electronic control architecture. The advantage is that it can reduce the cost of fuel cell systems, Dong added.
Xie Zhenliang, the managing director of Unity Ventures, said that with the expansion of the fuel cell market, the bottom-up separation system can no longer meet the needs of market economy and efficiency, and the top-down integrated design will be a new trend. It will greatly reduce the cost of fuel cells and promote the development of the fuel cell market.
The company’s competitors include SinoHytech, REFIRE, Panxing Technology, BCH Power, and Troowin Power System Technology.