CM Venture Capital portfolio company Global Power Technology has secured the latest round of financing of 80 million RMB

September 30, 2020

Beijing Global Power Technology Co., Ltd. is the first domestic leader to focus on the manufacturing of silicon carbide (SiC) power chips, the third-generation semiconductor material. Relying on the independent and controllable IDM production line and the experienced technical team in the industry, the company has been deeply cultivated for nine years. It has become the first enterprise in China to realize the large-scale sales of silicon carbide devices. It is also the largest domestic production (13,000 pieces), the largest domestic sales scale. It has the most complete types of silicon carbide power chips and is the only company that passes IATF16949 rules, automotive level reliability AECQ101 certification, international ship mark (DNS) including the United States coast guard (USCG) authentication of the leading enterprises in the domestic power semiconductors. The company completed the latest round of financing of RMB 80 million at the end of September 2020, with the pre-investment valuation of RMB 1.9 billion.

Global Power Technology in Liuyang, Hunan was established on December 5, 2019, with a registered capital of 410 million yuan. It is a wholly-owned subsidiary of Beijing Global Power Technology. The company’s first phase project has a total investment of 700 million yuan, which is jointly funded by Beijing Global Power Technology and Liuyang High-tech Zone. Liuyang Global Power Technology’s six-inch power electronic device (chip) production line project is completed and can realize the production and sales of 60,000 pieces/year of six-inch silicon carbide power chips, with annual sales revenue of RMB 1 to 1.5 billion.

As of September 30, 2020, Hunan Global Power Technology has completed the recruitment of nearly 84 people. The company’s large-scale plant has been delivered at the end of July 2020, and the equipment order has been completed. The ultra-clean room is currently being constructed. The equipment is expected to arrive at the factory in mid-to-late October. The project plans to complete the line in the first quarter of 2021.