Chinese Energy Storage System Integrator, JD Energy, Completes Series A Funding Led by IDG Capital
Recently, JD Energy, an energy storage system integrator based in China, announced the completion of an A round of financing, led by IDG Capital and followed by Source Code Capital.
The funds raised will be used for R&D and the upgrading of its eBlock program, JD Energy’s smart energy block product. The funds will also be used for the construction of a 5GWh smart energy block production line to speed up the R&D of new products and improve their delivery capacities.
Founded in 2018, JD Energy is the provider of innovative solutions for global energy storage systems. In April this year, JD Energy adopted theconcept of “All In One” as the company integrated as series of features into a single cabinet which eventually became the eBlock. In addition to long-life batteries, the smart energy block includes systems for balanced battery management, energy storage converters, safety, power distribution and thermal management..
This product has been deployed in several grid-side and user-side energy storage projects including the State Grid Corporation of China, China Southern Power Grid, State Power Investment Corporation and New China Life Insurance.
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Yu Xinhua, Partner of IDG Capital, commented on the developments, saying that the company would rely on its technical strength in energy storage converters, and, as a result, has developed a new generation of modular energy storage systems thatcan solve the safety pain points of the industry and improve battery life and efficiency.
