Energy Storage Firm Lingtan Intelligence Bags $7.4M in Pre-A Round Financing
Lingtan Intelligence, an industrial and commercial energy storage brand, announced on August 5 its completion of a pre-A round of financing totaling 50 million yuan ($7.4 million), led by Eight Roads and followed by PKSHA SPARX Algorithm Fund and Future Capital. This round comes on the heels of the firm’s angel investment round, which was secured in January 2022.
Energy storage offers important support for building new power systems. With the increasing demand for green electricity and the expanded demand brought by new energy vehicles, energy storage systems have gradually become the industrial standard.
In June this year, Lingtan Intelligence released its Tensorpack T 200kWh/100kW distributed energy storage system, integrating batteries, battery management system, energy management system, thermal management system, DC/AC bidirectional converter and fire protection system in the cabinet. The modular design is intended to meet diversified customer needs. So far, Lingtan Intelligence has signed cooperation agreements with several major customers, and related products are being delivered in batches.
Established in October 2021, Lingtan Intelligence is committed to providing high-quality and high-performance energy storage products for industrial and commercial customers such as factory parks, charging stations, commercial buildings and data centers, helping them reduce electricity costs and improve return on investment.
Lingtan Intelligence’s R&D team members are from famous schools in China and abroad, such as the Technical University of Denmark, Zhejiang University, Southeast University and University of Science and Technology of China. They have working experience in Huawei, Shanghai Electric, CATL and Delta, as well as deep technical accumulation in the field of energy storage.
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Over the next three years, Lingtan Intelligence will deploy super GWh energy storage systems in the industrial and commercial fields, and will gradually expand overseas markets.
According to Chen Yeran, the CEO of Lingtan Intelligence, energy storage enterprises will face various uncertain factors like automated driving firms the future. In the long run, one of the core competitiveness of energy storage enterprises will become software and data-driven systems.