"RenShuo Solar" Closes Hundreds of Millions of RMB in Series A Funding to Advance Photovoltaic Industry | YunXun · Funding
Yunqi Capital's first-round investment project, committed to becoming a global leader in the solar industry
➤➤➤ RenShuo Solar (Suzhou) Co., Ltd., a seed-round investment by Yunqi Capital, recently announced the completion of a Series A funding round worth several hundred million yuan. The funds will be used primarily for upgrading and operating its 150MW perovskite production line.
Yunqi Capital's Perspective
Yunqi Capital has always focused on "technology innovation, industrial empowerment," with intelligent manufacturing being one of its key areas of continued interest. In addition to RenShuo Solar, Yunqi has made early-stage bets on outstanding companies including Xingji, Pulaixin Intelligent, Yinxin Technology, Qinghe Jingyuan, Lanyang Intelligent, Xinkong Microelectronics, and Jiutongfang. Ruiting Zheng, Executive Director at Yunqi Capital, commented: "The photovoltaic industry has experienced tremendous volatility over the past two years, but we are pleased to observe that the research and industrialization of perovskite technology continues to advance steadily. Since our seed investment, RenShuo Solar has successfully completed the construction of its 10MW and 150MW production lines according to plan. We look forward to seeing the company achieve even greater milestones."
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RenShuo Solar was founded in December 2021 and completed a Pre-A funding round of several hundred million yuan in August 2022. The company's main business is the R&D and production of novel perovskite solar cells, with the goal of becoming a global leader in the solar industry. Its founding team has deep roots in the photovoltaic sector, and its technical team has repeatedly set world records for perovskite solar cell conversion efficiency, bringing extensive research experience.
Compared to traditional crystalline silicon solar cells, perovskite cells offer higher conversion efficiency. The theoretical efficiency limit for single-junction perovskite cells can reach 33%, while all-perovskite tandem cells can achieve 45% for two-junction and 50% for three-junction configurations. Additionally, perovskite cells boast core advantages including high theoretical efficiency limits, strong design flexibility, low material and equipment costs, and low energy consumption, along with transparency and flexibility.
On January 11, 2024, RenShuo Solar held a completion and first-wafer ceremony for its 150MW perovskite photovoltaic module project in Changshu, Jiangsu. Chairman Hairen Tan explained on-site that the completed 150MW perovskite production line was fully designed by RenShuo Solar itself, incorporating more than 50 core patented technologies — a high-standard perovskite photovoltaic production line. Its successful completion and commissioning signal that RenShuo Solar's mass production processes are maturing, marking a new phase in the company's perovskite photovoltaic industrialization.
Completion of RenShuo Solar's 150MW perovskite photovoltaic module project Going forward, RenShuo Solar will use this as a foundation to accelerate construction of its GW-scale line. Building on the completed 150MW production line, RenShuo Solar plans to mass-produce 1.2m x 0.6m perovskite photovoltaic modules in 2024, with an expected photoelectric conversion efficiency of 20%.
