Welion New Energy recently disclosed several business updates, highlighting the deployment of a commercial and industrial (C&I) energy storage project, the signing of a strategic partnership with a major state-owned enterprise, and ongoing preparations for its Pre-IPO financing and public listing.
10.44 MWh C&I Energy Storage Project Grid-Connected
On September 8, Welion New Energy announced that its 10.44 MWh energy storage power station project for Waichit Electronics in Huizhou, Guangdong Province, was officially connected to the grid and put into operation.
Developed and constructed by Huizhou Yaohui Integrated Smart Energy Co., Ltd., the project is tailored for the commercial and industrial electricity consumption scenarios of Waichit Electronics. Under the division of responsibilities, Welion New Energy supplied the energy storage battery cells, while Guorui Xiechuang was responsible for energy storage system integration and equipment delivery, marking a key commercialization project for Welion in South China's C&I energy storage sector.
The project adopts a non-recourse project financing model. Financing, collateral, and recourse are strictly limited to the project company's own assets, equipment, revenue, and rights, without involving off-balance-sheet assets of the developer, shareholders, or parent companies. Should the project fail to service its debt, lenders cannot seek recourse beyond the project entity itself. This creates an independent financing closed-loop reliant solely on project assets and operational cash flow, serving as a practical benchmark for market-oriented financing in C&I energy storage.
Strategic Cooperation Agreement Signed with Shandong Energy Group
On August 28, Welion New Energy and Shandong Energy Group signed a strategic cooperation framework agreement in Jinan, reaching an intention for deep collaboration.
According to the agreement, both parties will leverage their respective technical and resource advantages to collaborate in areas such as novel energy storage, renewable energy applications, green computing power, and market expansion both domestically and internationally. They also plan to establish high-level communication, project execution, and routine coordination mechanisms to drive industrial synergies.
IPO Guidance Registration Completed
On the capital markets front, Welion New Energy is steadily advancing its capitalization strategy. Since its inception, the company has completed nine funding rounds, including a Series D+ round in September 2025 backed by investors such as ICBC Capital, CDB Capital, and various regional energy and industrial investment funds.
In 2026, Welion New Energy launched its Pre-IPO financing round, aiming to raise approximately 2 billion RMB at a pre-money valuation of 20 billion RMB. Welion completed its IPO guidance registration in December 2025, targeting a listing on China's A-share ChiNext board. Moving forward, Welion New Energy plans to partner with upstream and downstream supply chain entities to accelerate the large-scale deployment of energy storage solutions across C&I, grid-side, and renewable-plus-storage integration scenarios.
Source：EnergyTrend