Unisun Energy Group Closes Series C Round, Existing Backer Source Code Capital Continues to Increase Stake

Unisun Energy Group, a commercial and industrial smart green power service provider, recently announced the completion of its Series C funding round. The round was led by global investment firm Cathay Capital, with existing investor Source Code Capital following on to increase its stake. Source Code Capital was the sole investor in the company's Series B round. Proceeds will be used for power station development and construction, energy storage integration system R&D and manufacturing, and upgrades to smart operations and maintenance.

Lei Xin of Source Code Capital said: "Commercial and industrial distributed energy is a critical component of China's new power system and the core means of decentralizing future energy infrastructure. Its assets are characterized by strong operational requirements, high returns, and self-balancing capabilities. As a rare platform company focused on full product supply and full-lifecycle services on the commercial and industrial user side, Unisun has spent ten years honing its craft and is now a leading domestic operator in commercial and industrial distributed solar. I believe that with this round — bringing together new and existing shareholders — Unisun will become a top-tier distributed integrated energy service platform in China."

China's commercial and industrial distributed solar sector endured years of stagnation and volatility before finally entering a phase of policy and market certainty in 2021. It has since become one of the key pathways for China to achieve its dual-carbon goals and transition to low-carbon energy consumption. Unisun Energy Group laid the groundwork in this space eight years ahead of that inflection point, building a full-lifecycle energy service system encompassing development, investment, construction, energy storage, and operations around commercial and industrial energy use cases. Resolute strategic focus and continuous technological innovation have driven Unisun's evolution from pioneer to guardian to market leader.

As an energy service enterprise with deep, long-term roots in the commercial and industrial customer market, Unisun has developed distinctive long-tail, technology, and service characteristics over the course of its growth. By systematically studying and addressing parasitic, fragmented, and non-standardized industry barriers — combined with various technology-enabled smart tools — Unisun was the first to break the curse that commercial and industrial distributed solar could not be developed industrially, at scale, or in a standardized way. It has become one of the private-sector benchmarks in China's commercial and industrial distributed solar space, with the broadest business footprint, largest investment and operations scale, and highest level of technological sophistication.

Over the past decade, while building capabilities in commercial and industrial distributed power system construction, operations, and energy storage, Unisun has continuously pushed deeper into the market. It has amassed a massive, nationwide distributed power system portfolio and aggregated countless sites with opportunities and imaginative potential for extended new energy applications. At this inflection point when virtual power plants are on the verge of becoming reality, Unisun is also one of the few companies in the industry to simultaneously aggregate all four core capabilities: generation, load, storage, and maintenance.

Yisha He, Chairman of Unisun Energy Group, said: "We are grateful for Cathay Capital's strong recognition and support, and for Source Code Capital's consistent trust and assistance. Unisun's growth has been enabled by our shareholders, the united efforts of all Unisun members, and the support of all our partners. Unisun has spent ten years with the mission of accelerating the green power transition for commercial and industrial users. In the second half of the energy transition, all distributed energy service enterprises will face comprehensive upgrade challenges. Unisun will remain true to its original aspiration, continuing to strive for digitalization, intelligence, and decentralization of commercial and industrial green power to create long-term value."