The company intends to deploy these funds to scale its hydrogen energy solutions, specifically targeting intelligent data centers in Thailand. Beyond its hydrogen ambitions, the capital will support the ongoing rollout of proprietary battery-swapping technology. Key projects include heavy-duty truck operations in Thailand, electric van deployments across Southern Europe, and taxi infrastructure initiatives within Hong Kong.
U Power Secures $16 Million from Existing Shareholders for Global Expansion
Four existing shareholders have injected US$16 million into U Power Limited, purchasing over 9.7 million Class A shares at US$1.64 each. The transaction, finalized on August 3, provides the Nasdaq-listed energy firm with fresh capital to accelerate its transition toward hydrogen-based infrastructure and international battery-swapping projects.
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This private placement, conducted under Regulation S of the Securities Act, was approved by the company's board of directors and closed immediately following the agreement. U Power, which markets its modular battery-swapping technology under the UOTTA brand, is currently pivoting toward an AI-driven energy ecosystem. Through a joint venture with Jiangsu GuoFu Hydrogen Energy Equipment, the firm is positioning itself to meet the high-performance power demands of global artificial intelligence data centers and autonomous mobility networks.
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