We are excited to announce our participation in Marvel-Tech’s recent Pre-Series B financing round*, which successfully raised hundreds of millions of RMB. This strategic investment, led by Qiming Venture Partners, with Templewater among the key investors, including Dachen Cai Zhi, Dongfang Jiafu, Hillhouse Investment, and 顺为资本 Shunwei Capital, positions Marvel-Tech to ramp up the mass production of its innovative tri-feed gas turbines and establish a high-power full-scale performance testing center.
Marvel-Tech, a pioneer in hydrogen and hydrogen derivatives-fueled gas turbines, is set to revolutionize the energy sector with its groundbreaking technology. This technology not only supports the global push towards carbon neutrality but also provides versatile and eco-friendly solutions for global energy needs.
Dr. Yufeng Wan, PhD, CFA, Partner & Head of Impact Investing at Templewater, commented on the investment, "Marvel-Tech is leading the charge in redefining the future of energy with its groundbreaking hydrogen and hydrogen derivatives-fueled gas turbine technology. We see significant potential of Marvel-Tech’s tri-feed gas turbine in decarbonizing power generation in Hong Kong and other high energy consumption areas where there is a shortage of locally produced renewable energy. Being compatible with natural gas, hydrogen and ammonia means operators can leverage multiple fuels as and when they are available without having to incur significant capex to replace power generating gas turbines. Marvel-Tech’s products also provide effective solutions of zero emission power supply to key infrastructure such as data centers, as well as to energy users in off-grid areas. At Templewater, we are deeply committed to accelerating the global transition to a zero-carbon economy. We are proud to partner with Marvel-Tech on this journey, driving the adoption of clean energy solutions in Hong Kong, Asia and globally."
*Subject to certain FDI procedures in China
Read more: https://lnkd.in/gB9eB-Qy
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