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CATL Capital, a subsidiary of a major battery manufacturer, has led a nearly 100 million yuan (approximately $14 million) funding round for a Chinese AI startup specializing in energy technology. The investment will support the research, development, and commercialization of energy AI models, platforms for coordinating electricity and computing resources, and related intelligent systems, according to a Shanghai-based company announcement made yesterday.
The startup aims to establish “virtual power plants” within data centers by intelligently aggregating dispersed electricity resources to meet their substantial energy demands. It targets capturing 30 percent of China’s computing power coordination market over the next three years.
As AI technology rapidly advances, the need for robust computing infrastructure has surged, now emerging as a primary industry growth constraint. Last year, China’s data centers consumed about 166 billion kilowatt-hours, accounting for roughly 2 percent of the nation’s total electricity consumption, according to a July report from the China Academy of Information and Communications Technology.
Founded in 2021, the company manages virtual power plants totaling 100 megawatts and supplies AI computing facilities with a combined capacity of 30,000 petaflops. Its technology is utilized by a leading Chinese AI company at its intelligent computing hub in Shanghai, leading to a 6.5 percent reduction in electricity costs through precise energy management, while significantly enhancing the system’s self-balancing capabilities.
The startup has also established collaborations with prominent Chinese energy firms, including China Energy Engineering, State Power Investment, and France’s Schneider Electric.
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