Bairang New Energy Technology (Shenzhen) Co., Ltd., which focuses on the research and development and manufacturing of new carbon dioxide energy storage systems, recently announced that as of August 31, 2022, the company has successfully completed nearly 100 million yuan in Series A financing.
Investors in this Series A financing include listed companies Yongtai Energy and Haide Holdings, Beijing Anci Capital, Chengdu Sichuan Fund, Xi’an Kaiyuan Fund, etc.; the funds raised are mainly used for the company’s carbon dioxide energy storage Investment in technology research and development and the construction of 10MW/20MWH verification projects. Investors have highly recognized the technological advancement, economy, universality, safety, reliability, etc. of Bairang New Energy Energy Storage System, and expect that carbon dioxide energy storage systems will have a broad market space. The company plans to start its next round of financing in October.
Bairan New Energy is a company focusing on safe, long-lasting, green and sustainable energy storage technology, providing customized energy storage system products and solutions to users around the world. As a leader in carbon dioxide energy storage systems in my country and even the world, the company's new long-duration, large-capacity carbon dioxide energy storage system has many advantages such as "high efficiency, low cost, high safety, no pollution, long life, and intelligence"; It has unique waste heat utilization capabilities and can tap the huge potential value of China's industrial waste heat; the system is not restricted by geographical environment and has excellent universality and can be used in various geographical and climatic conditions; it can be widely used in new energy power generation Different application scenarios such as supporting energy storage, user-side energy storage, grid-side peak regulation and frequency modulation energy storage.
New carbon dioxide energy storage is a gas-liquid interconversion and two-state synergistic energy storage technology that does not depend on geological conditions, has low pressure and temperature levels, high reliability and low cost. The basic principle is to use excess electricity to compress carbon dioxide gas at room temperature and pressure into liquid during low electricity consumption periods, and store the heat energy generated during the compression process; during peak electricity consumption periods, use the stored thermal energy to heat liquid carbon dioxide to a gaseous state. , drives the turbine to generate electricity. Bairang New Energy has a number of original and breakthrough technology patents on the new carbon dioxide energy storage route. In particular, it has creatively solved the problem of flexible materials required for low-cost storage of gaseous carbon dioxide, making compressed carbon dioxide energy storage economically viable. feasibility.
Currently, the company’s world’s first commercial demonstration project, the Wuhu Conch Cement 10MW/80MWH project, is under construction and is scheduled to be officially put into operation in March 2023. The company also has multiple 100MW-level long-term energy storage projects in progress.
The company will strive to become the industry's leading energy storage system solution provider through continuous technological innovation and play a huge role in promoting the achievement of China's dual carbon goals.