Mufan Power raises 500M yuan Series C to scale gas turbine production
What's the deal? Shanghai Mufan Power Technology has raised more than 500 million yuan ($69 million) in a Series C round led by Qiming Venture Partners. The gas turbine developer will use the capital to expand its manufacturing infrastructure.
What's the endgame? The company plans to build a high-volume assembly plant and a high-power engine testing center. Both support its core gas turbine and turbomachinery product lines, which rely on independent intellectual property.
Why now? Localised testing removes a supply chain bottleneck, letting Mofan Power validate its turbine systems at volume without relying on third-party facilities. The funding also accelerates production scaling and commercial deployment.
The signal: At $69 million, the round sits in the upper tier of deals in its class. The bet reflects rising domestic demand for decentralised power generation and industrial carbon reduction.
Read more: TMTPost
Image credit: tweakie.cnc
