Re-upped in Low-carbon Technology, Legend Capital’s Portfolio Company MS Energy Completes its New Round of Financing

MS Energy, one of Legend Capital’s portfolio companies, has recently announced that it has secured several hundred million yuan from its Series B and Series B+ financing rounds. As an early-stage investor to MS Energy, Legend Capital jointly led its Series A financing round and continued to follow up in its Series B round of financing.

Founded in 2018, MS Energy is a high-tech enterprise integrating photovoltaic systems, energy storage systems, charging and swapping systems, shared travel, and green energy management, investment and operation. Its core team members are from leading enterprises and top academic institutions and have been deeply engaged in the energy industry for more than 15 years. Most of them have years of working experience in the United States and obtained core patents in energy storage technology.

The round of financing will be majorly used for product R&D and market expansion. At this stage, starting by entering the distributed photovoltaic and energy storage market, MS Energy has provided "source-grid-load-storage integration" solutions for user-side scenarios such as high-energy-consuming enterprises and high-tech industrial parks, to improve the comprehensive electricity efficiency of enterprises. At the same time, MS Energy has also established its business in scenarios of consumer-side charging and low-speed vehicles; for example, in the low-speed vehicle scenario, the diagnostic algorithm will be implanted into the chip to improve the battery safety management effect from the hardware level.

WEI Qiong, the Founder and Chairman of MS Energy, said: “There is no upper limit to our R&D investment budget. I believe that only by the continuing quest for scientific research can MS Energy be able to make constant breakthroughs in key technologies, we hope that more and more scientific research talents will join us in the future.”

Richard LI, the President of Legend Capital, said: “Electrochemical energy storage is a key regulator for the energy structure transformation in China. MS Energy started its business from the safe operation and management of lithium batteries and has expanded green energy solutions to various application scenarios such as light storage and charging. We are optimistic that MS Energy will achieve more technological and commercial breakthroughs in the field of low-carbon technology and energy storage in the future.”

Under the goals of carbon peaking and carbon neutrality, Legend Capital's investments focus on energy system decarbonization, vehicle electrification and synthetic biology. Energy decarbonization includes photovoltaics, wind power, smart grids; vehicle electrification include smart electric vehicles, battery recycling, hydrogen fuel cell vehicles, battery charging and swapping, and the electrification of industrial equipment; Legend Capital has made investments in outstanding companies such as MS Energy and Ruicycle (恒创睿能) regarding the field of power battery recycling and management.