Breaking the foreign monopoly, "Yipu Power", a manufacturer of green power and power generation systems, has received tens of millions of yuan in Pre-A round financing. | HardcoreTech exclusively reports.
Author | Ye Danxuan
Editor | Yuan Silai
Hardcore has learned that recently, the green power and power generation system manufacturer "Yipu Power" has completed a Pre-A round of financing of tens of millions of yuan. It is jointly led by Oriza Holdings and Woyuan Capital, with Lin Yang, Jun Fund, Changce Electromechanical, Galaxy Electronics and other listed companies participating. This round of funds will be used to accelerate the layout of megawatt-level high-power high-speed gas engines and methanol new energy engines in research and development, production and operation.
"Yipu Power" was established in 2024, focusing on the research and development and manufacturing of megawatt-level high-power high-speed gas engines and methanol new energy engines. Its application fields cover green, low-carbon and energy-saving and emission-reduction clean energy application scenarios such as natural gas power generation, coal mine gas power generation, biomass gas power generation, petroleum associated gas power generation, and blast furnace tail gas power generation; as well as industrial and living application scenarios such as ship and mining truck power, oil and gas field exploitation power, data center backup power supply, pan-semiconductor/metallurgical/chemical and other enterprise backup power supplies, hospital and bank backup power supplies. The company is headquartered in Suzhou High-tech Zone, and there is another manufacturing and testing plant of about 14,000 square meters located in its wholly-owned subsidiary in Zhangjiagang.
In recent years, the energy issue is gradually becoming the core issue of the world's economic development. How to efficiently explore, transform and use new energy has become the focus of common concern for countries and industries. Pan Chuanpeng, the executive president of "Yipu Power", told Hardcore that for a long time, the high-power engine and gas engine industry has been relatively monopolized by foreign giant enterprises. Especially for the megawatt-level high-power methanol new energy engine, there is an urgent need in China for products to fill the gap in this field.
Due to the wide application field and high application efficiency of gas engines, related products are being used more and more widely internationally.
According to the "Distributed Energy" of the Distributed Energy Committee of the China Urban Gas Association, the research and development technology level of gas engines in the world is uneven, and the relevant research and development in China started relatively late. For many years, almost all domestic high-power gas engines above 2MW have relied on imports.
Based on this, the company mainly focuses on two main products: high-power gas engines and megawatt-level high-power methanol new energy engines. Among them, the high-power gas engine suitable for low-concentration and low-calorie flammable gas of "Yipu Power" can reach a maximum power of 2MW, and its technical indicators have reached the international leading level. The independently developed megawatt-level high-power methanol new energy engine is also the first breakthrough of domestic enterprises in this field.
Pan Chuanpeng, the executive president of "Yipu Power", disclosed to Hardcore that at present, the market scale of high-power gas engines and engines (including power generation applications and pure power applications) is considerable. The global market scale is about 300 billion yuan, and the domestic market scale is about 80 billion yuan. At present, Yipu Power has established relevant overseas sales channels for products in countries and regions with rapid growth in power demand and rich oil and gas resources such as Southeast Asia, the Middle East, and Eastern Europe.
Pan Chuanpeng, the executive president of "Yipu Power", told Hardcore that from the technical level, the speed, power, power density, power generation efficiency and emission indicators of the gas engine are all important indicators to measure the technical level of the gas engine.
Take the low-calorie and low-concentration megawatt-level high-power high-speed gas engine, one of the main products of "Yipu Power", as an example. Yipu Power uses all high-speed machines with a speed of 1500rpm and can reach a maximum power of 2MW. It is the only gas engine enterprise in China that can be in line with the product speed and power of foreign leading enterprises.
In the application of gas engines, due to the certain differences in the composition of the gas source used by customers in different regions and industries, gas engine manufacturers are required to calibrate the working parameters of the gas engine in a targeted manner, and have higher requirements for the theoretical and application accumulation of the combustion process and control method.
It is worth noting that the engine power density is directly linked to the power generation efficiency, and the level of power generation efficiency determines the output of economic benefits. In terms of the power-to-weight ratio, the products of "Yipu Power" are close to 110kW/T, which is far ahead of similar domestic enterprises and can even exceed the products of some foreign leading enterprises. Correspondingly, in terms of power generation efficiency, the products of "Yipu Power" are also basically higher than the general level of the domestic industry. That is to say, under the same gas consumption, the gas engine products of "Yipu Power" can generate nearly 15% more revenue, and the incremental revenue brought by each unit is as high as 1.2 million yuan per year.
Pan Chuanpeng, the executive president of "Yipu Power", has a deep understanding and many years of accumulation in high-end equipment and advanced manufacturing, pan-semiconductor and the automotive industry, and has led the investment in several enterprises listed on the STAR Market and the ChiNext. The core technical team has more than 15 years of research and development experience in high-power gas engines, engines and their generator sets, and has a rich accumulation of customer application cases. Among them, the core members of the technical team were once members of the expert group for the compilation of the "Technical White Paper on Backup Power Supply for Data Centers" of the country. The developed high-power high-speed high and low concentration universal (7-50%) gas engine and power generation system have reached the world-leading level in technical indicators. The company's sales team has a mature and rich domestic and international marketing channel network.
Investor's Views:
Yin Botao, a partner of Oriza Holdings, said that as a national heavy equipment, the megawatt-level high-power high-speed gas engine has long been monopolized by several large companies in Europe and the United States. However, we are pleased to see that the Yipu Power team has made very valuable achievements in this field. Especially the company's technological breakthroughs in low-concentration, low-calorie and mixed flammable gas, which is of great significance to the country's "dual carbon" strategy and global green and sustainable development. As an investment institution in the field of hard technology, Oriza Holdings has always firmly supported the development of domestic innovative and entrepreneurial enterprises.
Dr. Wei Bin, the managing partner of Woyuan Capital, said that the power equipment including high-power high-speed gas engines is an important layout of Woyuan Capital's Fourth Fund in the field of high-end equipment. The technological innovation of Yipu Power focuses on being applicable to China's abundant coalbed methane, biomass gas, blast furnace waste gas and petroleum associated gas, etc. It is one of the "green power" technologies that Woyuan Capital attaches great importance to ESG and energy saving and emission reduction. We look forward to the rapid development of Yipu Power in this field, doing a good job in the domestic market, and being able to participate in the global market competition on behalf of the national competitiveness in the future.