“Electric Engine Technology” Bags Tens of Millions in Series A2 Round, Hits Over 100M in Six Months
Text | Liu Jingqiong Editor | A Zhi
Cover Source | Provided by the enterprise
36Kr learned that Beijing Electric Propulsion Technology Co., Ltd. (hereinafter referred to as "Electric Propulsion Technology"), a developer of aviation hybrid electric propulsion systems, announced the completion of tens of millions of yuan in Series A2 financing. This round of financing was led by CSC Financial Co., Ltd., and the old shareholder Yida Capital continued to increase its investment. The funds raised will be used for the continuous construction and efficiency improvement of testing and production capabilities. In June this year, 36Kr reported that Electric Propulsion Technology completed its Series A1 financing, which was jointly led by Xunshang Venture Capital and Shanshan Venture Capital, with Beihang Investment following.
Within half a year, Electric Propulsion Technology completed two rounds of financing, with a cumulative financing of over 100 million yuan. Founded in February 2016, Electric Propulsion Technology focuses on the R & D and manufacturing of high-power and high-density power domain system products for aerospace. It is a "Specialized, Refined, Distinctive and Innovative" enterprise in Beijing.
The core members of the team graduated from well - known domestic and foreign universities such as the "Seven Sons of National Defense". They have worked in aerospace research institutes, key national defense laboratories, and leading commercial aerospace companies under the system, such as China Aerospace Science & Industry Corporation, China Aerospace Science and Technology Corporation, and Aero Engine Corporation of China. They have over 15 years of research experience in high - power and high - density aerospace power systems and have the full - chain R & D experience of the overall solution of "aerospace power + new energy hybrid".
Electric Propulsion Technology implements a "1 + N" product system. "1" refers to the customized high - power aviation hybrid electric propulsion system, which is the first domestic hybrid system - level overall solution; "N" refers to standardized component systems such as high - power density turbine power generation systems, electric propulsion systems, and integrated energy management systems. "System customization and component shelving" is the product layout concept that Electric Propulsion Technology has always adhered to. Shelved component products help to significantly reduce the cost of the power system, and the customized matching of large systems based on shelved components can maximize the adaptation to different aircraft or flight conditions. In the past four months, Electric Propulsion Technology has made new progress in many aspects. In terms of product R & D, Electric Propulsion Technology's 200kW turbine power system has achieved mass production and entered the stage of batch delivery; the 300kW turbine power system has been produced and is starting to be delivered to customers one after another; the air - cooled megawatt - class aviation power generation system has completed technical verification and will be ready for delivery by the end of the year; the oil - cooled megawatt - class aviation power generation system has completed the preliminary R & D work.
Electric Propulsion's self - developed megawatt - class aviation power generation system
In terms of R & D difficulty, the air - cooled version is more difficult than the oil - cooled version. In terms of application scenarios, the air - cooled version is more suitable for fixed - wing aircraft with ultra - short take - off and landing capabilities, while the oil - cooled version is more suitable for tilt - rotor aircraft with vertical take - off and landing capabilities. "Currently, we are the only domestic enterprise with the R & D and production capabilities of both air - cooled and oil - cooled megawatt - class aviation power generation systems. Launching two versions at the same time can meet the needs of most aircraft manufacturers," added the technical director of Electric Propulsion Technology. In terms of production and manufacturing, after converting some previously outsourced production links to in - house production, the production efficiency of Electric Propulsion Technology's products has doubled, and the production and delivery cycle of products has also been halved. In addition, Electric Propulsion Technology's mass - production factory is under accelerated construction and will be put into use by the end of this year.
By then, the production capacity of small and medium - power products will increase from 500 sets/year to about 10,000 sets/year, and the production capacity of high - power products will increase from 50 sets/year to 500 sets/year. In terms of application scenarios, Electric Propulsion Technology's products continue to be implemented in multiple fields such as aerospace, emergency rescue, and special equipment. Taking eVTOL as an example, Electric Propulsion Technology has reached cooperation agreements with multiple eVTOL aircraft manufacturers such as Shangfei Aviation and Flying Pie, providing them with a complete set of high - power aviation hybrid electric propulsion system solutions. In the military parade held in September, the new power system products independently developed and produced by Electric Propulsion Technology were successfully applied to some of the reviewed equipment, including ground equipment, unmanned aerial combat systems, and hypersonic strategic strike equipment.
The overseas market is also a key development direction for Electric Propulsion Technology this year. According to the person in charge, the company will participate in the Dubai Airshow in November with its high - power aviation hybrid electric propulsion system products. Currently, the company has signed cooperation agreements with multiple overseas customers and is about to deliver products. The increase in the overall order volume in the second half of the year is also expected to drive the revenue in 2026 to double. Since the beginning of this year, Electric Propulsion Technology has completed the shelving of the entire power system products and the delivery of the megawatt - class power generation system prototype.
The technical standards for aviation hybrid electric propulsion formulated by the company's technical director have also been officially released.
By the end of this year, Electric Propulsion Technology plans to complete the flight test verification of hybrid aircraft and flight platforms and submit the airworthiness application for hybrid products.
