Hithium Energy Storage Valuation, Funding & Investors

Hithium Energy Storage is valued at $4.2B as of July 2023.

Last Hithium Energy Storage valuation

$4.2B

Series C · Jul 2023

Last Hithium Energy Storage funding round

$626M

Series C · Jul 2023

Cumulative funding Hithium Energy Storage raised

$904M

across 2 funding rounds

Key investors in Hithium Energy Storage

  • Matrix Partners China
  • China Life Private Equity Investment
  • ABC International
  • Dayone Capital
  • CCB Capital
  • Fenghe Capital

Hithium Energy Storage Overview

About Hithium Energy Storage

Hithium Energy Storage is a Shenzhen-based manufacturer specializing in lithium iron phosphate batteries, core materials, and energy storage systems. It operates four R&D centers and intelligent production lines, emphasizing safety enhancements and extended battery lifespans for grid, industrial, and residential applications.


Founded

2019

HQ

ChinaXiamen

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$4.2B (Jul 2023)

Hithium Energy Storage Valuation

Hithium Energy Storage is currently valued at $4.2B, based on its Series C in July 2023.

The $626M round was led by Beijing Financial Street Capital Operation Center and China Life Private Equity Investment.

Hithium Energy Storage's valuation has grown 2.7x from $1.5B at its Series B in October 2022 to $4.2B in July 2023, across 2 priced rounds.

Hithium Energy Storage valuation by funding round

Hithium Energy Storage valuation by funding round
DateStageValuation
Jul 2023Series C$4.2B
Oct 2022Series B$1.5B

Hithium Energy Storage Funding History

Hithium Energy Storage has raised a total of $904M across 2 funding rounds.

Hithium Energy Storage's first fundraising round was a $278M Series B in October 2022. The most recent completed round was a $626M Series C in July 2023.

Hithium Energy Storage funding rounds

Hithium Energy Storage funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2023Series CBeijing Financial Street Capital Operation Center (lead); China Life Private Equity Investment (lead)$626M$4.2BHithium Energy Storage is a Chinese company founded in 2019 that specializes exclusively in stationary energy storage batteries and systems. The company has rapidly ascended to become one of the world's largest utility-scale battery manufacturers, ranking third globally in 2024 with 35.1 GWh shipped and 11% global market share, then advancing to top 2 in the first half of 2025. Hithium manufactures lithium-ion and sodium-ion batteries for grid-side, residential, and commercial applications, with end-to-end capabilities spanning materials, R&D, system integration, and services. The company's revenue grew from CNY 3.62 billion in 2022 to CNY 10.2 billion in 2023 and CNY 12.92 billion in 2024, representing an 89% CAGR, with the company achieving profitability in 2024 with CNY 318 million in net income. Between 2022 and 2024, storage system shipments grew at a combined annual growth rate of 167%. Hithium's technological innovations include pioneering long-duration energy storage starting in 2022, launching the world's first kAh battery and 6.25 MWh BESS in 2023, and developing the first sodium-ion battery for utility-scale energy storage in 2024. The company has deployed solutions across over 20 countries and regions, partnering with major industry players including Jupiter Power, Lightsource BP, Samsung C&T, Datang Group, and Longyuan Power, with landmark projects including China's renewable energy mega-bases and the Jaguar Project in Texas. By July 2025, Hithium's global patent filings exceeded 4,000 across China, the U.S., Europe, and beyond. The company filed for a Hong Kong listing in March 2025, planning to use IPO proceeds for battery production capacity expansion, R&D enhancement, and global sales and service network development.
Oct 2022Series BABC International (lead); CCB Capital (lead); Matrix Partners China; Dayone Capital; Fenghe Capital; Chengtun Mining Group$278M$1.5BHithium Energy Storage, a China-based manufacturer of energy storage batteries and systems, completed a CNY 2 billion (~USD 278 million) Series B funding round in October 2022 led by ABC International Holdings and CCB Investment Management, with participation from Chengtun Mining Group, Dayone Capital, Fenghe Capital, and Matrix Partners China. The round was completed at a pre-money valuation of CNY 15 billion, marking one of the notable private equity financings in China's new energy sector that year. Hithium specializes in long-duration energy storage solutions, including large-capacity lithium battery cells like the ∞Cell 1175Ah/587Ah and innovative products such as the ∞Power8 6.9MW/55.2MWh 8-hour system and lithium-sodium collaborative solutions for AI data centers. The company has demonstrated rapid growth post-round, achieving a compound annual growth rate (CAGR) of 89% in revenue from 2022 to 2024, with reported revenue figures of RMB 3,614.9 million in 2023 and RMB 12,916.8 million in 2024, alongside gross profits rising to RMB 2,308.6 million in 2024. By 2025, Hithium ranked Top 2 globally in energy storage battery shipments (total market 612.39 GWh) and utility-scale BESS shipments (556.74 GWh), with deployments in over 20 countries including flagship projects like a 600MWh storage in Texas, USA, and Europe's first grid-forming project in Hungary. It was recognized as a national excellent-level smart factory and the world's first 'Lighthouse Factory' for energy storage batteries. Hithium transitioned from adjusted net losses of RMB 104.6 million in 2022 and RMB 225.2 million in 2023 to profitability, recording adjusted net profit of RMB 246.6 million for the six months ended June 30, 2025, with operating revenue of RMB 6,971.2 million in that period. The company continues to innovate with achievements like the world's first open-door large-scale fire test and sodium-ion battery technology on China's National Major Technical Equipment list, supporting global renewable energy integration.

Who has invested in Hithium Energy Storage?

8 investors have backed Hithium Energy Storage across its funding rounds, including Matrix Partners China, China Life Private Equity Investment, ABC International, Dayone Capital, CCB Capital and Fenghe Capital.

Lead investors include Beijing Financial Street Capital Operation Center, China Life Private Equity Investment, ABC International and CCB Capital.


Hithium Energy Storage Investors

Investors in Hithium Energy Storage by funding rounds participated
InvestorHQRoundsRoleFirst check
Matrix Partners ChinaChinaBeijing1ParticipantOct 2022
Beijing Financial Street Capital Operation CenterChinaBeijing1LeadJul 2023
Dayone CapitalChinaBeijing1ParticipantOct 2022
China Life Private Equity InvestmentChinaBeijing1LeadJul 2023
ABC InternationalHong KongHong Kong1LeadOct 2022
CCB CapitalChinaBeijing1LeadOct 2022

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Hithium Energy Storage Competitors

Hithium Energy Storage competitors include listed companies like Diodes, Wonik IPS and EO Technics, and private ones like Beijing Weilan New Energy Technology, Ryefield Energy and SK on.

Public and private companies comparable to Hithium Energy Storage
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Beijing Weilan New Energy TechnologyChinaBeijingPrivate--$2.4B-
Ryefield EnergyChinaWenzhouPrivate--$1.4B-
SK onSouth KoreaSeoulPrivate--$17B-
DiodesUnited StatesUnited StatesPublicly listed$1.5B$202M$4.2B2.2x
Wonik IPSSouth KoreaSouth KoreaPublicly listed$662M$101M$4.2B4.8x
EO TechnicsSouth KoreaSouth KoreaPublicly listed$277M$60M$4.1B11.7x

Hithium Energy Storage Public Comps

Hithium Energy Storage is still privately-owned, but its public comps include Diodes, Wonik IPS, EO Technics, Lante Optics, Premier Energies, Shanghai Sinyang, Everdisplay Optronics, Accretech, Jiangsu Jiejie and Kulicke & Soffa.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Diodes$1.5B$202M2.6x2.2x19.3x-
Wonik IPS$662M$101M5.9x4.8x38.4x28.6x
EO Technics$277M$60M14.1x11.7x64.7x40.6x
Lante Optics$229M$97M18.0x13.0x42.3x30.6x
Premier Energies$814M$258M5.3x4.0x16.8x13.8x
Shanghai Sinyang$289M$66M14.3x14.7x62.7x-
Everdisplay Optronics$820M$100M8.1x-66.1x-
Accretech$1.1B$250M3.7x3.5x15.8x14.0x

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Common questions about Hithium Energy Storage

When was Hithium Energy Storage founded?Hithium Energy Storage was founded in 2019.
Where is Hithium Energy Storage headquartered?Hithium Energy Storage is headquartered in Xiamen, China.
Is Hithium Energy Storage publicly listed?No, Hithium Energy Storage is a private, VC-backed company.
What is Hithium Energy Storage's valuation?Hithium Energy Storage was last valued at $4.2B in its Series C in July 2023.
How much funding has Hithium Energy Storage raised?Hithium Energy Storage has raised $904M across 2 funding rounds.
What was Hithium Energy Storage's last funding round?Hithium Energy Storage's last funding round was a $626M Series C in July 2023, led by Beijing Financial Street Capital Operation Center and China Life Private Equity Investment.
Who are Hithium Energy Storage's investors?Hithium Energy Storage's investors include Matrix Partners China, Beijing Financial Street Capital Operation Center, Dayone Capital, China Life Private Equity Investment, ABC International, CCB Capital, Fenghe Capital and Chengtun Mining Group.
Which companies are comparable to Hithium Energy Storage?Companies comparable to Hithium Energy Storage include Beijing Weilan New Energy Technology, Ryefield Energy, SK on, Diodes, Wonik IPS and EO Technics.

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