China National Storage Energy

China National Storage Energy (中储国能) is a Beijing-based developer of advanced compressed air energy storage systems, spun out from the Chinese Academy of Sciences' Institute of Engineering Thermophysics . It positions itself as a pioneer and leader in China's compressed air energy storage sector, with a focus on large-scale, low-cost, long-lifetime grid storage . The company raised a 320 million yuan Pre-A+ round in 2022 led by Huakong Fund with participation from Gaorong Capital, and subsequently closed a Series A of over 1 billion yuan in 2023 led by Guokai Manufacturing Industry Transformation and Upgrading Fund and Cinda Kunpeng . By April 2024 it had achieved a milestone with the first grid connection of a 300MW/1800MWh demonstration plant in Feicheng, Shandong—described as an international first with fully independent intellectual property .