Shanghai Electric Energy Storage Technology, the energy storage subsidiary of Shanghai Electric (SEHK:2727, SSE:601727), recently received RMB400 million in Series A financing that will be used to inject added vitality into the development of its energy storage business. It will focus on promoting the research and development of new systems, promoting its industrial supply chain structure, construction of 100Mbps stacks that can be used in megawatt container-type vanadium redox flow battery (VRFB) energy storage systems, deepening industrial cooperation, accelerating industrial upgrades, and effectively stabilizing its access to capital.
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