Energy storage arm of China's Zhiguang Electric raises $98.5m in strategic financing

Energy storage arm of China's Zhiguang Electric raises $98.5m in strategic financing

Woman holds Chinese Yuan banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

A subsidiary of publicly-listed Chinese energy technology group Guangzhou Zhiguang Electric has raised 700 million yuan ($98.5 million) in strategic financing at a post-money valuation of 2.5 billion yuan ($351.7 million).

Edited by: Pramod Mathew