CGN Joins $30M Series C Round In Pearl Electric

Chinese transmission equipment manufacturer Pearl Electric Co., Ltd. has completed RMB200 million (US$30 million) series C round of financing from strategic investors including China General Nuclear Power Group (CGN), according to an announcement (in Chinese).

An investment arm of Hongta Tobacco Group Co., Ltd. and other investors also participated.

Founded in 1958, Pearl Electric manufactures power transformation and transmission equipment, including 110KV oil-immersed power transformer, dry-type transformer, reactors, and pad-mounted transformer.

The company completed an undisclosed funding round last February led by State Development & Investment Corporation, a state-owned investment holding company.

Panyu, Guangdong province-based Pearl Electric currently has 600 employees and factory space of over 80,000 square meters, according to its website.

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