Code Engraved | JD Energy Secures 300 Million Yuan in Series C Funding, State Capital Backing Gives Industry a Confidence Boost

JD Energy recently announced the successful completion of its Series C funding round, raising RMB 300 million. The round was jointly led by BOCOM Asset Management and JianXin (Beijing), with follow-on investments from CIMC Capital Management and Guangzhou Industrial Investment Private Equity Fund Management.

JD Energy launched its Series C fundraising in July 2023, which attracted considerable attention within the industry. The energy storage sector is fiercely competitive, with companies facing inevitable pressure to survive and thrive through quality development. JD Energy's product and market leadership earned it the confidence of state-backed investors, and closing this round amid a cooling capital market has delivered a much-needed boost to the broader energy storage industry.

Founded in 2018, JD Energy is dedicated to the R&D of core equipment for advanced energy storage systems, offering industry-leading solutions to support global carbon neutrality goals. The company has established itself as an industry leader through its self-developed 3S-integrated distributed intelligent energy storage system. JD Energy has built out full R&D and manufacturing capabilities for battery PACKs, BMS, PCS, EMS, and its integrated energy storage product eBlock, achieving the industry's transition from project-based engineering to productized solutions — becoming the first company to offer standardized energy storage products to customers. Committed to sustainable development, JD Energy provides complete turnkey energy storage solutions and one-stop energy management services, covering industrial and commercial storage, solar-storage-charging stations, and new energy storage applications, driving the adoption and普及 of green energy and contributing to the global energy transition.

Figure 1: JD Energy's 144MW/288MWh wind-solar-storage project in Guigang, Guangxi

This successful round reflects state capital's recognition and trust in JD Energy. BOCOM Investment, JianXin (Beijing), Guangzhou Industrial Investment, and CIMC Capital, as strategic partners in JD Energy's industrial ecosystem, have provided strong financial backing and resource support to accelerate the company's growth. The proceeds will further strengthen JD Energy's R&D innovation and market expansion capabilities, laying a solid foundation for future development.

Liu Weizeng, JD Energy's founder and chairman, stated: "The rapid development of the energy storage industry depends on national support. We will continue to develop efficient and reliable green energy solutions, consistently providing customers with the lowest levelized cost of storage, and driving sustainable development for global energy and the human environment."

Fu Guoli, JD Energy's CFO and board secretary, said: "Global carbon neutrality has created tremendous opportunities for Chinese energy storage companies. JD Energy focuses on providing efficient and reliable storage solutions for the industry. Capital markets have long been bullish on the energy storage sector and JD Energy's prospects. This funding round injects even greater momentum into our accelerated growth, and the company will reward shareholders and society with better operating performance and superior products."

"Green development is both a philosophy and a practice. We highly recognize and value JD Energy's innovations in core technologies, and we very much look forward to the company achieving even greater success and making new and greater contributions to the global dual-carbon economy." The investors brought in this round are also highly confident in JD Energy's future.

JD Energy's fully automated PACK production line

JD Energy has now completed six funding rounds, continuously bringing in fellow travelers on the energy storage journey and steadily expanding its roster of strategic investors. As global demand for renewable energy continues to grow, this year's World Environment Day theme — "Many Species. One Planet. One Future" — represents a shared imperative for all humanity. As a company with social responsibility and mission, JD Energy will continue to bear its fiduciary and moral obligations to our planet and our environment. JD Energy creates not only products, but also happiness and health. Through its own efforts, the company achieves intensive, efficient, waste-free, harmless, and pollution-free green development, while actively developing and applying green technologies, committed to building a green product manufacturing chain that benefits society and nature.