Suqian Era Energy Storage has completed a round A financing of 100 million yuan

This article is reproduced from Hillhouse Venture Capital official account

Recently, Suqian Era Energy Storage Technology Co., Ltd. (referred to as "Suqian Era Energy Storage"), a developer of liquid flow energy storage batteries, announced the completion of a round A financing of 100 million yuan. This round of financing is led by GL Ventures, with joint investment from Bangsheng Capital, Suzhou Venture Capital, and Industrial Development Venture Capital. The financing will mainly be used for technology research and development, product mass production, and market development.

Suqian Era Energy Storage was established in 2021 and is a high-tech enterprise specializing in the research and production of water-based organic liquid flow energy storage batteries. It has core technologies such as water-based organic liquid flow batteries and ion exchange membranes. At present, the company's Phase I annual production line of 2GWh has been put into operation and has achieved the production of water-based organic flow batteries throughout the entire industrial chain.

The project leader of GL Ventures stated:

The development direction of liquid flow batteries is to continuously iterate and optimize production costs, energy density, and energy conversion efficiency. The electrolyte raw materials of water-based organic liquid flow batteries are not limited by mineral resources, and the scale of organic synthesis has a significant cost reduction effect. The molecular formula of the electrolyte can be designed, and there is significant room for cost reduction and performance improvement in the future. It is expected to become an important technical route for long-term energy storage. We are optimistic that Suqian era energy storage will rely on it in the field of organic synthesis The deep technological accumulation, scale, and ultimate efficiency of the domain's industrialization capabilities provide reliable and low-cost solutions for energy storage

Under the dual effects of industrial policy guidance and market demand driving, the new energy storage industry has developed rapidly. In the past two years, the scale of liquid flow batteries in the energy storage industry and the popularity of the capital market have significantly increased. Water based organic liquid flow energy storage battery is one of the new emerging liquid flow battery technologies in recent years. It is a battery technology that uses water-soluble organic compounds as electrolytes, with advantages such as long lifespan, safe operation, environmental friendliness, and wide sources.

Suqian Era Energy Storage Founder Xiang Zhanbo introduced that Suqian Era Energy Storage is an enterprise with a full industry chain layout of water-based organic liquid flow batteries. Currently, the company has achieved self production of core raw materials and components such as electrolytes, ion exchange membranes, bipolar plates, flow channel plates, and specialized pipelines. In terms of energy efficiency, the company's water-based organic liquid flow energy storage battery has achieved an energy efficiency of over 85% on the DC side of the stack, and the comprehensive energy efficiency of the battery has reached over 70%.

On October 15th of this year, the first set of megawatt grade organic liquid flow batteries produced by Suqian Era Energy Storage were put into production, officially entering the stage of large-scale production.

The key core technology of aqueous organic flow battery technology lies in the electrolyte and ion exchange membrane, which directly determine the performance and lifespan of the battery.

In terms of electrolyte, the electrolyte of water-based organic liquid flow energy storage batteries is composed of organic synthetic substances dissolved in pure water or salt water, which is inherently safe and does not pose a risk of ignition, combustion, or explosion.

Yang Zhengjin, Chief Scientist of Suqian Era Energy Storage, introduced that the water-based organic liquid flow energy storage battery developed and produced by the company can use a neutral NaCl aqueous solution as the supporting electrolyte, which is inherently safe, environmentally friendly, and has no risk of combustion or explosion.