Recently, PowerShare, a Chinese professional digitization energy services provider, completed its A+ round of financing, which was led by Volvo Cars Tech Fund. The money is expected to be used for market expansion and business globalization.
Power Share
On October 19, PowerShare (Chinese: 电享科技), a Chinese domestic leading digitization energy services provider, announced the completion of its A+ round of financing, which was led by Volvo Cars Tech Fund (Chines: 沃尔沃汽车科技基金) and followed by its two previous investors, namely bp Ventures (Chinese: bp风投) and Alliance Ventures (Chinese: 雷诺-日产-三菱联盟基金).
PowerShare, a Shanghai-based energy digitization solution supplier, specializes in battery AI and distributed-energy storage technology research. One of the firm's core business priorities is virtual plant solutions that integrate energy storage, solar, microgrid and utility-scale power plants. In terms of energy use, the load-leveling by the energy storage can achieve cost advantages by improving electricity efficiency and reliving global environmental and ecological pressures to some extent by energy saving and carbon reduction. It has cooperated with various domestic and international enterprises and organizations, including BP Venture, State Grid, Shanghai Energy, Porsche, Daimler, BMW, Renault, Nissan, Geely, FAW and BJEV.
The fund will be used to accelerate its international strategic layout and expand its core business worldwide, such as VPP Cloud, Battery AI Platform and Energy AI Platform.
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