Recently, Shenzhen Racern Technology Co., Ltd. has completed tens of millions of RMB in Series A financing. Led by CSSC Smart Ocean Fund, the round was co-invested by Shenzhen High-Tech Investment Group, Shenzhen SME Guarantee Venture Capital, and Yuanzhi Hechuang Fund. The funds raised will be used for the development and certification of the company’s marine power systems, domestic and international market expansion, and the construction of automated production lines to enhance product competitiveness and accelerate the advancement of domestic and international market strategies.
Founded in 2012, Racern Technology focuses on business areas such as new energy ships, grid energy storage, and home energy storage, providing users with full-stack system solutions. Adhering to the principles of technological innovation as the foundation, quality first, and customer-centricity, the company has built a technology service-oriented enterprise integrating industry, academia, and research. It has delivered lithium battery systems for over 200 new energy ships and participated in dozens of grid energy storage projects. Actively responding to President Xi’s call that “lucid waters and lush mountains are invaluable assets,” the company upholds the development concept of “green, safe, efficient, and harmonious,” and strives for innovation and progress to contribute to the “carbon peaking and carbon neutrality” goals.
01. Targeting the New Blue Ocean: Technology Leadership Aids Global Shipping Energy Conservation and Emission Reduction
Against the backdrop of global carbon neutrality, increasingly stringent international emission reduction regulations have posed significant challenges to the global shipping industry, forcing the shipbuilding sector to accelerate its transformation towards cleanliness, digitalization, and intelligence.
Internationally, the International Maritime Organization (IMO)’s new short-term measures for greenhouse gas emission reduction came into full effect on January 1, 2023; the EU has included the shipping industry in the EU Emissions Trading System. Domestically, to accelerate the development of battery-powered ships, in September 2022, five ministries and commissions including the Ministry of Industry and Information Technology and the National Development and Reform Commission jointly issued the “Implementation Opinions on Accelerating the Green and Intelligent Development of Inland River Ships.” At the local level, Jiangsu, Zhejiang, Shanghai, Guangdong, Hubei, and other regions have issued corresponding supporting measures. In June this year, ten departments in Fujian jointly released the “Implementation Opinions on Fully Promoting the Construction of ‘Electric Fujian’ (2023-2025),” proposing a subsidy of 40% of the total price of the battery power (including hydrogen fuel cell) assembly for demonstration electric ship projects (including new construction and renovation) in the province, with a maximum subsidy of 100 million yuan per ship (of which 60% is provided for the first batch of provincial demonstration projects, with a maximum subsidy of 150 million yuan per ship). The introduction of a series of policies will drive the rapid development of ship electrification. Data shows that the global inventory of green ships exceeded 1,000 in 2022, including 586 electric ships, accounting for approximately 56%. It is expected that the global output value of the electric ship market will exceed 100 billion yuan in the next five years.
With the mission of “giving the world a clean future,” Racern Technology targets the fields of marine power systems, energy storage, and related system integration. Relying on its strong technical strength and professional product solutions, it has become the first enterprise to obtain a series of type approvals from the China Classification Society (CCS).
02. Equipping the World’s Largest-Capacity Pure Electric Cruise Ship, Holding Over 50% of the National Market Share
In 2017, the lithium battery power system provided by Racern Technology was applied to the first hybrid sightseeing cruise ship—”Li River Dream.” The “Li River Dream” is an all-aluminum electric ship with a total length of 30 meters, a total power of 110kW, an approved trial navigation capacity of 40 people, and a downstream speed of 17.7 km/h at full motor speed.
Since then, Racern Technology has continuously created “firsts”: the first pure electric sightseeing passenger ship on the Yangtze River, the first hybrid scientific research ship, the largest pure electric urban sightseeing cruise ship in China…
In March 2022, the “Yangtze Three Gorges 1,” the world’s largest-capacity pure electric cruise ship equipped with Racern Technology’s lithium battery system, successfully made its maiden voyage at Zigui New Port. As a pilot project for a strong transportation country of the Ministry of Transport and a high-tech ship research project of the Ministry of Industry and Information Technology, the project has a total investment of 150 million yuan. It is equipped with 11,712 CATL lithium iron phosphate power batteries in 4 battery compartments, with a total capacity of 7,500kWh.
Verified by the market, Racern Technology has occupied over 50% of the national market share in the integration of lithium battery systems for medium and large electric ships. It has received unanimous recognition and high praise from CSSC Group, CRRC Corporation Limited, Yangtze Power, CATL, Wuhan Changjiang Ship Design Institute, and other parties.
In the future, Racern Technology will continue to prioritize technological innovation and quality, take customers as the center, focus on the three-electric system (battery, motor, and electronic control) of new energy ships, continuously strengthen its competitiveness in the new energy ship field, promote the accelerated development of new energy ships, and create a new era of green and environmentally friendly shipping.