Sunpure Technology Secures CNY 100M in Series A for Photovoltaic Power Plant Innovation

Technology Author: Muriel Meng Editor: Yiru Qian Jan 31, 2024 10:37 AM (GMT+8)

The demand for intelligent solutions in the photovoltaic power plant industry is growing rapidly, leading to accelerated technological iteration in photovoltaic intelligent robot products.

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Sunpure Technology recently completed a Series A funding round of over CNY 100 million. The funds raised will primarily be used for the research and development of intelligent robots for photovoltaic power plants and the optimization and upgrade of comprehensive cleaning solutions for all scenarios, in order to meet the growing demand for intelligence in global photovoltaic power plants.

This financing round was led by Hengxu Capital, with follow-on investments from Yuantai Investment Partners Fund (Chinese: 元钛), Guoyuan and other investors. Existing shareholder GL Ventures continued to support the company, and China Renaissance Capital acted as the exclusive financial advisor.

Hu Yuran, Chairman and CEO of Sunpure Technology, stated, "In the future, Sunpure will fully utilize the resources brought by this round of financing to increase research and development investment, accelerate the pace of development, provide our global customers with more intelligent, reliable, and worry-free products and services, actively promote the intelligent and refined transformation of the photovoltaic industry, and contribute to the industry's progress."

Established in 2019, Sunpure Technology is a high-tech innovative company specialized in the research, production, sales, and service of intelligent cleaning robots for photovoltaic power plants. By closely integrating IoT technology, artificial intelligence, and big data analysis, Sunpure Technology provides standardized, professional, and intelligent cleaning solutions for photovoltaic power plants.

Since its commercial operation in 2020, Sunpure Technology has become the fastest-growing enterprise in the global intelligent cleaning field for photovoltaic systems, widely applied in various scenarios such as mountains, deserts, fish and agricultural light, and commercial and industrial rooftops. Through the transformation to intelligent photovoltaic power plants, Sunpure Technology applies cutting-edge technologies such as machine vision, global navigation, artificial intelligence, and big data to its robot products, establishing a "body intelligence" + "global intelligence" system. Through an intelligent cloud platform, the company achieves functions such as robot monitoring and intelligent decision-making, enabling local robot autonomy and cloud-based operational coordination.

In terms of international expansion, Sunpure Technology has accumulated signed contracts with a cumulative capacity of over 13 GW, and its core products have been applied in 14 countries and regions worldwide, including the Middle East, Latin America, China, and India.

In the future, Sunpure Technology will further explore the application of robots in different stages and scenarios of power plants, enrich its product portfolio, provide multi-level business support to customers, comprehensively improve the operational efficiency and reliability of photovoltaic power plants, increase the comprehensive return on investment (IRR), and reduce the levelized cost of electricity (LCOE), bringing higher value to global customers.

Hengxu Capital stated, "Unlike traditional manufacturing, the core competitiveness of the industrial robotics industry lies in developing truly innovative products that lead the industry and continuously create value for high-standard customers. Sunpure Technology, based on its overall industry advantages, has grown vigorously, focusing on independent technological innovation, continuously iterating and updating its product design, and successfully securing major orders overseas, thus capturing a larger domestic and international market share. Hengxu Capital values the excellent team led by the management and the company's systematic capabilities in core components, control systems, and quality control."

GL Ventures, the investment institution established by Hillhouse Capital that focuses on investing in early-stage startups, stated, "With outstanding technological innovation and keen market insights, Sunpure Technology has successfully solved the cleaning and maintenance challenges of photovoltaic power plants by providing efficient and stable intelligent cleaning solutions, thereby improving power generation efficiency and reducing electricity costs. Its products have covered numerous countries worldwide, and it has established deep cooperative relationships with multiple energy giants. With rapid revenue growth, Sunpure Technology has demonstrated strong competitiveness in the fierce market competition. As the lead investor in the previous round, we continue to invest in this round, and we have full confidence in the company's development. We believe that Sunpure will become an important force in driving the global transformation towards intelligent new energy. We look forward to creating the future together with the team."