Marvel-Tech Secures Over RMB500 Million in Two Financing Rounds for Gas Turbine Development
- Published
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- TechNode.com
Shanghai-based Marvel-Tech has successfully completed two financing rounds, raising over RMB500 million. The C round was led by HongShan, while the B round saw joint leadership from C&D Emerging Investment and Qiming Venture Partners.
The funds raised will be utilized to establish a manufacturing and assembly center for Marvel-Tech's gas turbine product lines, as well as a high-power unit performance testing center. The company aims to achieve a manufacturing and delivery capacity of 1GW by 2026.
Marvel-Tech's current offerings include 8MW and 30MW gas turbines tailored for green-fuel applications and AI data center power infrastructure. Notably, its technology allows for the combustion of hydrogen, ammonia, and natural gas without requiring hardware modifications. No further timeline was disclosed at the time of publication.
Original report
Marvel-Tech raises more than RMB500 million across two financing rounds
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