Photovoltaic manufacturing company Astronergy (正泰新能科技有限公司) recently has announced the completion of nearly CNY 2 billion in Series C funding, and SparkEdge Capital (朝希资本) remains the largest institutional investor.
Photovoltaic manufacturing company Astronergy (正泰新能科技有限公司) recently has announced the completion of nearly CNY 2 billion in Series C funding, and SparkEdge Capital (朝希资本) remains the largest institutional investor.
Under the CHINT Group, Astronergy is an intelligent manufacturing enterprise focusing on photovoltaic cells and modules, it is one of the earliest private enterprises in China to enter the photovoltaic field. Focusing on R&D, production and sales of high-efficiency crystalline silicon PV cells and PV modules, Astronergy has continuously launched the ASTRO and ASTRO N series high-efficiency, high-quality, high-performance modules. Pioneered the mass production of n-type TOPCon PV modules and Astronergy keeps leads in n-type TOPCon PV cell tech.
According to official data from Astronergy, its TOPCon battery cell technology production capacity ranks second in the world. It is expected that by the end of 2023, the photovoltaic module production capacity will reach 55GW, photovoltaic cell production capacity will reach 53GW, TOPCon module production capacity will reach 38GW, which accounts 84% of capacity of production.
According to data from the China Photovoltaic Industry Association (CPIA), in 2022, the scale of China's photovoltaic industry continued to grow, with the production of photovoltaic cells and modules reaching 318GW and 288.7GW respectively, with a year-on-year growth of over 55%. Meanwhile, the production of photovoltaic cells and modules accounts for over 80% of the global total production, which also shows a rapid growth trend.
This round of financing for Astronergy was exclusively invested by SparkEdge Capital (朝希资本). Other investors include Changjiang Green Development Private Fund (长江绿色产业基金), BOCOM (交银投资), China Life Capital (国寿资本), Yuexiu Financial Holdings Group (越秀投资), CICC (中金资本), CSC Financial (中信建投资本), and Walden international (华登国际) etc.
Hui Hengyu (惠亨玉), partner of SparkEdge Capital, stated: " SparkEdge Capital helps Astronergy further develop in multiple dimensions such as brand expansion, channel optimization, supply chain integration, technology R&D, and industrial landing, as well as the investment value of the head target is gradually emerging. As the only investor who continuously participated in all three series funding rounds of Astronergy, reflecting mutual recognition and support of Astronergy and SparkEdge Capital in new energy fields such as photovoltaic and energy storage. SparkEdge Capital will continue to leverage its differentiated advantages of 'industry, capital, and empowerment', collaborating with numerous invested enterprises in the industrial ecosystem, and joining hands with Astronergy to welcome the arrival of the era of photovoltaic as the main power generation energy.