SolaX Power develops energy storage solutions and integrated smart energy systems that combine solar power, storage, heating and EV charging. The company is investing $149.8 million to build a research and manufacturing facility in Zhejiang Province focused on utility energy storage and integrated smart energy systems. Of the $149.8 million, $107.8 million will be used for fixed assets including R&D labs, testing centres, and high‑tech manufacturing lines to accelerate its innovation pipeline. The expansion aims to increase production capacity to meet rising demand from commercial and utility sectors and to enhance grid stability and energy independence. SolaX plans to leverage AI, IoT and big data to create systems that optimize energy usage in real time and support decentralized energy management. The company frames the project as part of its mission to make energy smarter, greener, more affordable, and user‑friendly as the world moves toward carbon neutrality.

Total raised

$150M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2024