Woori Venture Partners Invests in Xnergy, Supporting Expansion into New Energy Industries

SINGAPORE, Jan. 8, 2025 /PRNewswire/ -- Xnergy Autonomous Power Technologies (Xnergy) has secured a significant investment from Woori Venture Partners, a leading Korea-based VC fund. This move reinforces Woori Venture Partners' commitment to fostering cutting-edge technology in the rapidly evolving fields of new energy and mobility solutions, given Xnergy's advancements in high-power wireless charging for industrial robots and electric vehicles.

Established in 2018 in Singapore with a focus on emerging markets, Xnergy's products are sold in nearly 40 countries across Europe, America and Asia, with a strong pipeline of customers and partners including mobile robot companies, system integrators, and end users.

Said Mr Alan Ang, Director of Woori Venture Partners: "We are excited to back Xnergy's ambition to be a global leader in wireless charging for new energy industries. We have invested globally into batteries, mobility and robotics startups and believe that Xnergy's breakthrough technology will be crucial in driving the next wave of sustainable growth in these industries. We look forward to working with Xnergy's best-in-class team to support its growth plans."

Xnergy's product portfolio includes solutions tailored for both robots and vehicles:

• For mobile robots, Xnergy offers 3-9kW wireless non-contact charging systems, supporting on-demand trickle charging.
• For electric vehicles, Xnergy offers 22kW, 800V two-way charging and discharging solutions for fast and efficient energy management.

The company's proprietary technology offers several advantages, including compact design, universal compatibility and highest power density. With a focus on scalability and customisation, Xnergy has introduced modular designs to meet varying customer needs while ensuring cost-effectiveness.

The investment from Woori Venture Partners aligns with Xnergy's plans to expand into new sectors and regions, including new energy vehicles. Following prior investments from Hyundai Motor Group and Accuron Technologies (a subsidiary of Singapore's Temasek Holdings), this funding positions Xnergy to lead innovation in wireless charging solutions.

Said Dr Hu Xiaolei, Chief Technology Officer of Xnergy: "This investment from Woori Venture Partners is a testament to the strength of our technology and potential to reshape autonomous electrified mobility. It provides us with the resources and strategic support needed to accelerate our expansion efforts. Together, we are not only advancing innovation but also ensuring that Xnergy continues to deliver cutting-edge solutions to meet the evolving demands of our customers worldwide."

Xnergy has already deployed thousands of charging modules across more than 60 product categories from warehouse robots to ambulances, enabling over one million successful charging cycles globally. The company's strategic focus includes increasing charging power to 10kW and beyond, catering to the evolving needs of robots and electric vehicles.

In addition to hardware, Xnergy offers advanced software solutions, including client and cloud platforms for monitoring charging performance. Customised charging curves for different batteries deliver faster charging times, while protecting battery life and maximising efficiency.

With a team of experts from top-tier companies like ON Semiconductor, HP and Porsche, Xnergy is uniquely positioned to tackle the challenges of high-power wireless charging. The company continues to leverage its international expertise, with 80% of the team boasting global experience and over half holding advanced degrees.

This partnership with Woori Venture Partners marks a significant milestone for Xnergy as it accelerates its growth trajectory, delivering next-generation wireless charging solutions to meet the demands of a rapidly transforming global market.

About Xnergy

Xnergy is the leading provider of high-power wireless charging solutions for all autonomous electrified mobility. Through its deployment-ready proprietary technology, it overcomes the limitations of traditional charging and enables a new way of power transmission – from electric vehicles to autonomous industrial robots. To date, thousands of modules have been deployed, effectively powering electrified mobility in nearly 40 countries.

The company also sets the industry standard for wireless charging, building an ecosystem of end users, regulators, and manufacturers to establish the strong foundation required for widespread adoption. To learn more, visit xnergytech.com.

About Woori Venture Partners

Woori Venture Partners is South Korea's leading venture capital firm with a distinguished track record spanning over 40 years. Established in 1981, Woori Venture Partners has expanded its global presence with investment hubs in Silicon Valley, Shanghai and Singapore. With investments in over 2,000 companies, over 300 of which have successfully gone public, Woori Venture Partners is dedicated to driving innovation and fostering growth opportunities worldwide.

Woori Venture Partners officially opened its Singapore office in 2023, and its presence in Southeast Asia reflects the growing investment opportunities in the region. Woori Venture Partners has:

• Cultivated a portfolio of close to 15 investments from Southeast Asia and India across diverse sectors including consumer, B2B, deep-tech and Web3
• Partnered Arkana Ventures, an Indonesia-based VC firm with a successful track record of investing in Southeast Asia, to focus on building disruptive early-stage startups across Southeast Asia
• Collaborated with Saison Capital, the corporate venture capital arm of Credit Saison, to explore synergies on Web3 opportunities globally, with a particular focus on real-world assets and the intersection of financial services and blockchain

SOURCE Xnergy Autonomous Power Technologies