Automotive Author:Wenqing Zou Editor:Mu Li Nov 01, 2022 11:53 AM (GMT+8)

Recently, ZD Power, a Chinese leading energy digitization solution provider, received over CNY 100 million from its A-round financing, which was led by Hillhouse Investment. The money is expected to be used in product R&D and market expansion.

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On October 27, energy digitization solution supplier ZD Power (Chinese: 浙达能源) announced the completion of its A-round financing exceeding CNY 100 million (USD 14 million), which was led by Hillhouse Investment (Chinese: 高瓴创投), followed by Source Code Capital (Chinese: 源码资本) and Creo Capital (Chinese: 六脉资本). Taihe Capital(Chinese: 泰合资本) served as the exclusive financial advisor.

ZD Power, founded in 2017 and based in Zhejiang, is a national high-tech enterprise focusing on providing energy digitization platforms with high efficiency and low-carbon optimization. The company’s products have been applied in smart grids, power trading and energy interconnection. After years of development, ZD Power has become a leading energy digitization solution supplier providing "full link + full stack" services. The core technology of ZD Power is virtual power plant technology (ZD Power VPP).

With the implementation of the "double carbon" strategy, China's energy structure went into a new transition stage. ZD Power VPP can achieve unified management of distributed power generation, electricity consumption and energy storage, which provides strong support for the safe and stable power grid and energy system operation.

In the future, ZD Power will continue to increase investment in energy digitization technology and help to realize "carbon peak, carbon neutralization" in China.