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In March 2025, Chinese solid-state battery startup Xenergy announced the closure of a Series B financing round exceeding $100 million, led by Puhua Capital. The company will channel the funds into ramping up production of its lithium-metal solid-state batteries, expanding its R&D team, and building a new 3GWh high-energy, high-safety solid-state battery production line. The new line is expected to start commissioning gradually from late 2026 to early 2027.
Founded in 2020 and headquartered in Shenzhen, Xenergy focuses on the research, development, and mass production of lithium-metal solid-state batteries—a technology that promises higher energy density and improved safety compared to conventional lithium-ion batteries. The company’s Hangzhou base has already put its first-phase 2GWh production line into operation, serving markets such as drones, eBikes, and electric motorcycles. A second-phase 8GWh facility in the same location is planned for eVTOL (electric vertical takeoff and landing) aircraft, embodied robots, and new energy vehicles.
Beyond Hangzhou, Xenergy has also started construction on a 3GWh mass production base in Yongkang. Combined capacity from commissioned, under-construction, and planned facilities now exceeds 20GWh. The company’s products achieve energy densities of up to 480Wh/kg, placing them at the forefront of the industry. Notably, Xenergy’s Hangzhou base took only about seven months to go from the rollout of its first batch of products to cumulative shipments exceeding 10 million cells—a milestone that the company claims is the first publicly disclosed case of continuous mass production at the ten-million-unit level globally for the lithium-metal anode route.
Industry analysts see this rapid scaling as a significant validation of the lithium-metal solid-state battery technology. “Xenergy’s achievement of shipping over 10 million cells in seven months is a major milestone for the lithium-metal route, which has long been plagued by manufacturing challenges,” said Dr. James Smith
