XING Technology, the holding company of Taiwan-based XING Mobility, an advanced battery technologies company founded in 2015, will be closing its Series B Equity Round led by Kubota Corporation (TYO: 6326, hereinafter "Kubota"), a leading manufacturer of agricultural and industrial machinery, by the end of 2023. This strategic investment accelerates Kubota's roadmap toward machinery electrification, promoting sustainability in agriculture and beyond. It also enables XING Mobility to expedite the development of immersion cooling battery systems.

Kubota's strategic objective is to move toward carbon-neutral through the reduction of CO emission by its agricultural machinery and small construction machinery. Kubota acknowledges the complexities involved in developing battery systems that can reliably operate at high power in rugged environments like agricultural farmlands and demanding construction sites. Through surveying battery system solutions worldwide, Kubota recognizes XING as an outstanding development partner, given its expertise in the design and manufacturing of high-power, heavy-duty battery solutions, particularly leveraging its immersion cooling technology.

XING Mobility's IMMERSIO immersion cooling battery system solution is developed for Automotive, Industrial and Commercial Vehicle and Machinery, and Energy Storage System. The solution has successfully passed rigorous safety tests, including a three-nail penetration safety test at 100% State of Charge, demonstrating the exceptional safety and reliability of active thermal runaway protection. This patented system sophisticatedly regulates battery temperatures' uniformity using thermal management expertise, ensuring consistent thermal distribution, longevity and safety of the battery cells. Proactive thermal runaway controls further enhance battery safety, especially in higher voltage systems. Given the increasing demand for higher voltage systems, these features play a pivotal role. XING Mobility's immersion cooling technology is suitable for commercial vehicles, as well as residential and commercial energy storage systems, making it a game-changer for safe and high-performance battery applications.

"Since 2015, XING Mobility has been at the forefront of advancing immersion cooling battery technology for electric vehicles," says Royce YC Hong, Co-founder & CEO of XING Mobility. "Our commitment has led to the integration of this technology in our own electric high-performance EV and numerous industrial and commercial vehicles. We have now escalated to volume production of immersion-cooling battery systems. This significant step not only makes these advanced batteries commercially available but also marks their global deployment to vehicle manufacturers and energy storage solution providers. The strategic investment and partnership with Kubota are a testament to the viability of our immersion cooling technology in heavy-duty applications, propelling our growth on an international scale."

Matt Cheng, Founder and the Sole General Partner of Cherubic Ventures, one of the pivotal investors in XING Mobility, noted, "Kubota's funding opens up new possibilities for XING Mobility's immersion cooling innovations. This investment is a significant step towards unlocking new potentials in agricultural and industrial machinery. At Cherubic Ventures, we are proud to be part of this groundbreaking shift towards advanced electrification."

 

Source:prnewswire.com

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