ACE BATTERY Completes Series A and B Financing, Accelerating Development of Green Energy Business

Recently, SHENZHEN ACE BATTERY CO., LTD. (hereinafter referred to as "ACE BATTERY") announced that it has completed Series A and Series B financing. The financing funds will mainly be used for product development and marketing, further promoting the rapid development of the company's business.

The Series A financing was completed in April 2022, with strategic investors including Guozhong Venture Capital Management (GZVCM), Source Code Capital, Fortune Venture Capital, Hillhouse Capital, and CITIC Capital, among others. "The success of our Series A financing reflects investors' recognition of our company, which will further strengthen our leading position in the clean energy field and lay a solid foundation for our long-term development," said the CEO of ACE BATTERY.

The Series B financing was completed in October 2022, led by CLSA Capital Partners and GZVCM, with follow-on investments from reputable institutions such as CoStone Capital, Asia Green Fund, Oriental Fortune Capital, and Qianhai Zhongchuan Equity Investment Fund. This round of financing will further enhance the company's technological innovation and market expansion capabilities, helping the company achieve faster business development.

Founded in 2014, ACE BATTERY is a national high-tech enterprise integrated with R&D, manufacturing, and sales of lithium-ion battery cells and energy storage systems. Its product line includes battery cells, battery modules, battery packs, and energy storage systems. ACE is committed to becoming a digital energy service provider in all scenarios. It has obtained the TUV/UL CTDP authorized lab qualification and works with many Global 500 on developing energy storage products to empower the global energy transition.