Recently, EcoFlow, a global leader in mobile energy storage solutions, has been considering an initial public offering (IPO) in the United States.
According to people familiar with the matter, EcoFlow is currently working closely with relevant investment banks and advisory teams, with a preliminary plan to raise at least USD 300 million (approximately RMB 2.117 billion) through the share offering.
Founded in 2017, EcoFlow is a national high-tech enterprise specializing in mobile energy storage and clean energy solutions. Since its establishment, the company has demonstrated strong growth momentum and has received backing from top-tier venture capital institutions, including Sequoia China.
Under current market conditions, a Chinese-funded company of this scale pursuing a U.S. listing has attracted significant attention from the capital markets.
Although the specific IPO size, valuation, and timetable are still at an early discussion stage and may be adjusted in line with market conditions, obtaining approval from the China Securities Regulatory Commission (CSRC) for overseas listing remains a key prerequisite.
Sources familiar with the matter disclosed that the planned USD 300 million fundraising has been allocated to clearly defined strategic uses. Approximately 40% (about RMB 845 million) will be dedicated to building the company’s first overseas manufacturing base in South Carolina, United States. This move is widely seen as a strategic step to comply with the requirements of the U.S. Inflation Reduction Act (IRA), secure market access, and establish a cost advantage. In addition, the remaining funds will be allocated in a coordinated manner: 30% will be used for cutting-edge technology research and development, 20% to support channel expansion in the North American market, and the remaining 10% will be reserved as working capital to support the company’s day-to-day operations.
Source：EnergyTrend