Marvel-Tech Raises Over RMB 500 Million in Two Financing Rounds
Shanghai-based Marvel-Tech, a developer of gas turbines and industrial energy recovery systems, has secured over RMB 500 million across two financing rounds. The funds will support expansion of manufacturing capacity.
Shanghai-based Marvel-Tech, a developer of gas turbines and industrial waste-heat and waste-pressure recovery turbine systems, announced the completion of two consecutive financing rounds totaling more than RMB 500 million (approximately $69 million USD). The C round was led by HongShan, with the B round jointly led by C&D Emerging Investment and Qiming Venture Partners.
The company stated the capital infusion will be allocated towards establishing a manufacturing and assembly center for its gas turbine product lines, alongside a high-power unit performance testing center. Marvel-Tech aims to achieve 1 gigawatt (GW) of manufacturing and delivery capacity by 2026.
Marvel-Tech's product portfolio currently features 8MW and 30MW gas turbines. These are designed for green-fuel applications and power infrastructure for AI data centers. The company's technology supports hydrogen, ammonia, and natural gas combustion without requiring hardware modifications.