# CASGS

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/casgs

- Industry: Industrial Machinery
- Headquarters: Qingdao, China
- Website: www.qdzkgs.com
- Total disclosed funding: $118M
- Latest round: Series C (Sep 18, 2026)
- Investors on record: 11

## About

Based in Shandong, China, and founded in 2017, Tsingtao CAS Guosheng Power Technology Co., Ltd., trading under the name CASGS, provides light gas turbines for the industrial machinery sector. The company achieved independent mass production of TG30 series gas turbines, providing domestic alternatives in the energy equipment market. In September 2026, CASGS raised CNY 600 million in Series C funding co-led by HSG and JIC Investment, with participation from Huadeng Technology, Shenyi Investment, China Merchants Capital, Guangzhou Industry Investment Holding Group, Chengdu Science and Technology Venture Capital Group, CAS Investment Management, Shandong New Growth Drivers Fund Management, and other investors.
 
Its TG30 series has entered mass production and serves as core equipment for distributed power generation and mechanical drive applications across sectors such as electric power, oil and gas, metallurgy, and chemicals. The company’s business scope encompasses the sale of gas turbine units and energy-power systems, major overhaul and maintenance services, spare parts supply, technical services and training, as well as diversified solutions including gas turbine power plant design and management, EPC contracting, and energy performance contracting.
  
The company generates revenue from the direct sale of proprietary light gas turbines and complete energy systems. 
 
The Series C funding raised in September2026  will primarily be used for the continued R&D of core technologies for light-duty gas turbines, the expansion of production and testing capabilities, the optimization of the supply chain, market expansion (both domestic and international), and talent team development.
Looking ahead, CASGS remains committed to a strategy driven by technological innovation, product quality, and customer needs. The company will focus on its core business and deepen its industry presence, striving to repay the trust and support of shareholders, customers, partners, and the broader community through solid operational results and sustainable, long-term value creation.

## Funding rounds

- Series C, Sep 18, 2026, $89M — JIC Investment, CAS Investment Management, China Merchants Capital, Chengdu Science and Technology Venture Capital Group, HSG, Guangzhou Industry Investment Holding Group, Shandong New Growth Drivers Fund Management, Shenyi Investment, Huadeng Technology
- Series B, Mar 20, 2026, $29M — China Development Bank Capital, CRRC Guochuang Capital Management, Shandong New Growth Drivers Fund Management

## Investors

- China Development Bank Capital — Series B
- CRRC Guochuang Capital Management (https://capitalatlas.ai/funds/crrc-guochuang-capital-management) — Series B
- Shandong New Growth Drivers Fund Management (https://capitalatlas.ai/funds/shandong-new-growth-drivers-fund-management) — Series B, Series C
- JIC Investment — Series C
- CAS Investment Management (https://capitalatlas.ai/funds/cas-investment-management) — Series C
- China Merchants Capital (https://capitalatlas.ai/funds/china-merchants-capital) — Series C
- Chengdu Science and Technology Venture Capital Group (https://capitalatlas.ai/funds/chengdu-science-and-technology-venture-capital-group) — Series C
- HSG (https://capitalatlas.ai/funds/hsg) — Series C
- Guangzhou Industry Investment Holding Group (https://capitalatlas.ai/funds/guangzhou-industry-investment-holding-group) — Series C
- Shenyi Investment (https://capitalatlas.ai/funds/shenyi-investment) — Series C
- Huadeng Technology — Series C