Shanghai (ZXZC)- Shenzhen RCD (Runchengda) Electricity Technology Co,. Ltd. (“Runchengda Electric”), a Chinese provider of charging and energy storage facilities and solutions, recently completed its B2 round of strategic financing with 224 million yuan raised, according to a post on the company's WeChat account.

This round of funding was contributed by existing shareholders, Hongtai Aplus, along with Pivot PE, Pingxiang State-owned Assets Investment Group, SND Group, etc, who jointly participated in the investment.

Photo credit: Runchengda Electric

Established in 2010 and headquartered in Shenzhen, Runchengda Electric is a leading provider of intelligent electric vehicle charging piles and digital energy solutions in China. Over the years, the company has been deeply rooted in the field of new energy vehicle charging and energy storage, striving to construct a global open ecosystem for new energy. Relying on key technologies such as liquid-cooled ultra-fast charging, flexible charging, and Vehicle-to-Grid (V2G), the company offers charging/energy storage equipment and energy management platforms for various scenarios, including buildings, public utility, charging stations, vehicle factories, power grids, and households.

The funds raised from this financing will be primarily allocated towards product R&D, enhancing production capacity, and providing comprehensive energy services tailored to user demands throughout the entire lifecycle. Additionally, the financing will be used for new project development, expansion into overseas markets, and talent recruitment, further deepening RCD Power's presence in the global new energy vehicle market.

Driven by both policy support and market demand in recent years, the charging and energy storage sector has experienced significant leaps in development. Runchengda Electric said it kept extending its industrial chain both upstream and downstream, accelerating global expansion, and offering robust support for the construction of new energy charging networks both in China and abroad. Presently, the company has established over 20 offices across the country and has expanded into mainstream European countries, North America, Australia, and the Middle East. Over the next five years, Runchengda Electric aims to achieve comprehensive coverage in more than 30 provinces and autonomous regions in China, as well as over 100 cities.