Great Wall Group unpotential Energy Group completed 555 million yuan B round financing: for hydrogen energy and fuel cell research and development.

CTOnews.com November 30 news, the Great Wall Group's Weili Energy Technology Co., Ltd. (hereinafter referred to as: Weili Energy) today completed 555 million yuan B round financing. This round of financing is led by the China Building Materials New Materials Fund, round A leads the investment of the State Investment Fund and continues to increase capital, while UBS Securities continues to act as the financial adviser for round B financing.

Officials said that this round of financing will help unpotential energy further accelerate the research and development and iterative upgrading of new technologies and products, build a global R & D system, attract high-end R & D talent, and accelerate large-scale production capacity expansion. Consolidate the market position and ecological foundation of unpotential energy in the hydrogen energy and fuel cell fields.

At the same time, Unpotential Energy has started the B + round financing process at the same time, and the preparatory work for IPO is also in steady progress. Previously, Unpotential Energy received 900 million yuan A round financing jointly led by China Investment Investment and PICC Capital in December 2021, with a valuation of more than 4 billion, setting a new record for the scale and valuation of round A financing for Chinese hydrogen fuel cell enterprises.

Weiwei Energy is one of the important strategic layouts in the new energy field of Great Wall holding Group. CTOnews.com has learned that unpotential energy is deeply engaged in the research and development of hydrogen energy and fuel cell key technologies, core products and components, and many independent products have successfully realized domestic substitution, such as high-power fuel cell systems, stacks, membrane electrodes, 70MPa systems, hydrogen storage bottles, bottle valves and pressure reducing valves.