Mars Renewable (Changxing) Co., Ltd. (hereinafter referred to as "Mars Renewable") announced the completion of pre-A round financing. The round of financing was led by Sequoia China with CDH VGC (Venture and Growth Capital) as co-investor.
Mars Renewable differentiates itself from other players in this industry through continuously providing customers with high-value energy storage asset portfolio and offering cutting-edge energy storage products and solutions.
Yang Zhaoguo, Venture Partner at Sequoia China, commented:” In the accelerated transformation of the global energy transition，the demand of BESS from the international market is very strong. This team well demonstrates its strong global operational capabilities and unique knowledge in BESS solutions. This investment also creates strong synergy with Sequoia China's energy storage investment ecosystem. Sequoia China believes that Mars Renewable will soon become a unicorn company in this race.”
Wang Mingyu, Senior Partner at CDH VGC, stated:” Compared to the China domestic policy-driven business environment, the overseas battery energy storage market has its natural vitality. Usually, expanding into international energy storage asset development business is a great challenge for the companies who lack true global operation experiences, and the power grid and electricity market knowledge, etc. Mars Renewable team has rare and robust combat capabilities with multi-GW of PV/Energy storage utility scale projects delivery experiences, profound methodologies, and strong localized development and partnership networks. Mars Renewable effectively connects mature and cost-effective industry base from China with abundant application scenarios and global IPP clients. The company has quickly expanded its customer base in the UK, Spain, Italy and France, accumulating GWh-level BESS project portfolio. CDH VGC is strongly believed Mars Renewable will become a crucial pillar in the energy storage market.”
About Mars Renewable
Mars Renewable: Shape the future of energy. Our genes lead us to promote the efficient deployment of battery energy storage globally with innovative technology and comprehensive renewable asset insights. The company is dedicated to providing C&I and utility scale energy storage solutions (ESS) and electric vehicle charging solutions (EVCS) to customers through the high-value energy storage assets origination and advanced technology solutions. Our cutting-edge solutions empower our clients to implement energy management and optimization strategies and achieve their ESG and sustainable development goals. Moreover, our energy storage systems provide practical solutions to meet the grid need of countries, and are the perfect partner for the new renewables era.
For more information, visit our website, or follow us on Linkedin and Facebook.
Media Contact
globalmarketing@marsrenewable.com
Business Contact
sales@marsrenewable.com
About Sequoia China
Sequoia China helps daring founders build legendary companies. In partnering with Sequoia, companies benefit from our unmatched community and the lessons we’ve learned over the years. As “The Entrepreneurs Behind The Entrepreneurs”, Sequoia China focuses on three sectors: technology, healthcare and consumer. Since founded in 2005, we’ve had the privilege of working with more than 1000 companies in China. 130+ portfolio companies have successfully gone public and 100+ privately held portfolio companies have become unicorns.
About CDH
Established in 2002, CDH is one of the first China focused alternative asset managers founded by a group of investment/finance professionals and institutional backers such as GIC. We have since successfully grown our footprint to SEA. With over $27 billion of assets under management, we invest across the alternative asset classes in Private Equity, Venture & Growth, Private Credit, Public Equities and Real Assets. We support our portfolio companies at various stages of their growth from different perspectives. We focus on investing in the most attractive asset classes, adhering to a value-oriented investment mindset. We have invested in more than 350 companies and have helped more than 100 companies successfully list on international and China’s domestic stock exchanges.
