Haier Group’s renewable energy arm Haier Energy has secured 700 million yuan ($96.1 million) in a Series A funding round, roping in the likes of state-owned investment firm SDIC Chuangyi, and state energy firm China National Petroleum Corp (CNPC)’s investment vehicle Kunlun Capital.
Rockets Capital, a fund focused on growth-stage investments in the smart energy vehicle (EV) supply chain; Chinese auto maker SAIC Motor Corp-affiliated Hengxu Capital; and deeptech-focused investment firm Puchao Capital were the participating investors in the round, according to a company release.
The firm offers photovoltaic equipment and solutions, including solar pump inverters, solar panels, and energy storage systems to businesses. It also targets retail clients for its residential energy storage solutions. Headquartered in the coastal Chinese city of Qingdao, its products are available across 50 countries.
With the proceeds, the firm seeks to cement its market position in the distributed smart energy solutions market.
The firm, headquartered in the coastal Chinese city of Qingdao, rebranded from Haier Nahui to Haier Energy in February.
China’s energy storage sector recorded $347.8 million of total deal value in Q1 2025, down by 39.5% from the same period last year, according to proprietary data collated by DealStreetAsia. The 26 deals in the sector in Q1 this year were also 46.9% less than the 49 deals recorded in the same period last year.
