Recently, Duneng Technology (Xiamen) Co., Ltd. announced the completion of its Series A funding round, successfully raising hundreds of millions of yuan. This round was led by GCL Group, with participation from institutions including the Wuzhong Financial Holding Industrial Fund. Potential Capital serves as the exclusive financial advisor for subsequent financing. Prior to this, Duneng Technology successfully completed its Pre-A funding round in 2024, continuing to earn the support and recognition of multiple industrial investors.
It is reported that the funds raised in this round will be primarily utilized for comprehensive upgrades and expansion across four distinct dimensions:
Product Technology: The capital will support the research, development, and technical iteration of Duneng Technology's new generation of commercial and industrial (C&I) energy storage products, aiming to meet the market's demand for highly efficient energy storage solutions.
Market Expansion: The company plans to heavily invest in building channel networks within the European and Asia-Pacific markets, accelerating its international business layout.
Production Capacity: The funds will directly drive the completion and official commissioning of the company's smart manufacturing base located in Xiamen.
Team Building: Additionally, Duneng Technology will take this opportunity to further expand its global team and recruit specialized professional talent.
Public records show that Duneng Technology was established in September 2023. Its founding team, entirely hailing from Huawei Digital Power, focuses specifically on C&I energy storage scenarios and has already achieved substantial breakthroughs in the European market. Its core products range from 50kWh compact units to large-scale energy storage systems exceeding 5MWh. By leveraging its self-developed Energy Management System (EMS), the Dulink cloud-based intelligent scheduling platform, and AI energy algorithms, the company is committed to building standardized and minimalist C&I energy storage solutions.
In recent years, the energy storage business has become the core supporting pillar for GCL Group in constructing a new power system. Currently, the group has established capacity layouts across all stages of the energy storage industry chain:
Upstream: Relying mainly on production bases in Sichuan and other regions, its existing and under-construction capacity for lithium iron phosphate (LFP) cathode materials has reached hundreds of thousands of tons, with a long-term target of 3 million tons.
Midstream: The group has built 20GWh and 2.5GWh energy storage system production lines in Zhangjiagang and Kunshan, Jiangsu Province, respectively, primarily focusing on liquid-cooled PACK and system integration manufacturing.
Downstream: It actively invests in and operates grid-side and C&I energy storage projects, with its cumulative installed capacity now exceeding 1GW.
Source：EnergyTrend