# Zhongchu Guoneng

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zhongchu-guoneng

- Industry: Renewable Energy
- Headquarters: Beijing, China
- Website: www.caes.store
- Total disclosed funding: $166M
- Latest round: Series A (May 27, 2023)
- Investors on record: 12

## About

Established in 2018 and based in Beijing, China, Zhongchu Guoneng is a new energy provider that focuses on developing compressed air energy storage to generate power systems. The technology is from the Institute of Engineering Thermophysics, Chinese Academy of Sciences. In 2017, the company completed the R&D and design of a 100 million Watts (MW) compress air energy storage system and components. The company's chief scientific officer, Mr. Haisheng Chen, is a researcher at the Institute of Engineering Thermophysics of the Chinese Academy of Sciences. In May 2023, it raised over CNY 1 billion led by new investor Xinda Kunpeng (Shenzhen) Equity Investment Management, with participation from other new investors CCB Investment Funds Management, Guangxi Guangtou Asset Management, Ningxia Guosheng Fund Management, Zheneng Fund, returning investors Casstar Capital, Xin Ding Capital, and other unspecified investors. 

The company engages in the development of compressed air storage energy systems devices. Its main products include a 1.5MW compact air energy storage system in Langfang, a 10MW compressed air energy storage system in Bijie, and a 100MW compressed air energy storage system in Zhangjiakou. The electricity-to-electricity efficiency of a 100MW compact air energy storage system can reach 70.4%. And the least cost of power can reach CNY 0.2 per kWh. Compressed air storage energy systems devices can be used for 30 to 50 years. Its products are used in the field of photovoltaic, wind power, thermal power, nuclear power, backup power, emergency response, big data center, and cloud computing center.

## Funding rounds

- Series A, May 27, 2023, $142M — CMB International Asset Management, T-Capital, Legend Star, Puhua Capital, Xin Ding Capital, Casstar Capital, CCB Investment Funds Management, Guangxi Guangtou Asset Management, Zheneng Fund, Xinda Kunpeng (Shenzhen) Equity Investment Management, Ningxia Guosheng Fund Management
- Angel, Dec 25, 2020, $24M — Casstar Capital, Zhuzhou Geckor Group

## Investors

- Casstar Capital (https://capitalatlas.ai/funds/casstar-capital) — Angel, Series A
- Zhuzhou Geckor Group — Angel
- CMB International Asset Management (https://capitalatlas.ai/funds/cmb-international-asset-management) — Series A
- T-Capital — Series A
- Legend Star (https://capitalatlas.ai/funds/legend-star) — Series A
- Puhua Capital (https://capitalatlas.ai/funds/puhua-capital) — Series A
- Xin Ding Capital (https://capitalatlas.ai/funds/xin-ding-capital) — Series A
- CCB Investment Funds Management (https://capitalatlas.ai/funds/ccb-investment-funds-management) — Series A
- Guangxi Guangtou Asset Management — Series A
- Zheneng Fund (https://capitalatlas.ai/funds/zheneng-fund) — Series A
- Xinda Kunpeng (Shenzhen) Equity Investment Management (https://capitalatlas.ai/funds/xinda-kunpeng-shenzhen-equity-investment-management) — Series A
- Ningxia Guosheng Fund Management — Series A