(13 July 2026, Shanghai) Templewater is pleased to announce a follow on investment* in Marvel-Tech Series C financing. The round was led by HongShan, with other key investors including Templewater, Qiming Venture Partners, Envision-HongShan Carbon Neutrality Fund, C&D Emerging Industry Equity Investment, Fortune Capital, and Hillhouse.
Founded by Mr. Lin Gang and a team of engineers returning from Germany, Marvel-Tech develops and manufactures next-generation clean fuels-based power-generation equipment. Its core technologies cover gas turbines fueled by hydrogen, hydrogen-derived fuels and natural gas, as well as turbomachinery systems that recover industrial waste heat and pressure for power generation.
Marvel-Tech has independently developed the world's first hydrogen-ammonia gas turbine and the world's first tri-fuel, zero-carbon, low-NOx combustor, which can achieve dry low-NOx combustion using hydrogen, ammonia or natural gas without hardware modification. Based on a modular, platform-based product architecture, the company is currently offering two principal models: an 8MW unit for clean fuel applications and a 30MW unit designed as an on-site power platform for artificial intelligence data centres ("AIDCs").
Mr. Lin Gang, General Manager of Marvel-Tech, commented: “Global AI data centre development is undergoing an ‘on-site power generation’ revolution. In North America alone, the gas turbine supply shortfall over the next three years is expected to reach tens of gigawatts, while large-scale procurement of gas turbines by global technology companies has become standard practice. In China, ‘coordination between computing and power’ has been incorporated into the country’s 15th Five-Year Plan for energy development, with ‘strengthening computing through power and advancing power through computing’ becoming a national strategic direction. This creates an unprecedented policy opportunity. Marvel-Tech aims not only to serve China’s computing infrastructure, but also to bring Chinese gas turbine solutions with fully proprietary intellectual property to global markets. We are confident that Chinese gas turbines and advanced turbomachinery equipment can secure their rightful position in the global race to power AI.”
The proceeds will primarily fund a large-scale assembly and manufacturing centre for Marvel-Tech's gas turbine and turbomachinery product lines, together with a high-power full-unit performance testing and acceptance centre. Marvel-Tech plans to establish manufacturing and delivery capacity of 1GW by the end of 2026, supporting the expansion and mass production of its fully proprietary gas turbine products and the development of modular, reliable and rapidly deployable power infrastructure for the AI era.
Dr. Yufeng Wan, Partner & Head of Technology Investment at Templewater, commented: “Since Templewater’s initial investment, Marvel-Tech has continued to translate its differentiated technology and deep engineering capabilities into industrial-scale products and significant commercial opportunities. The rapid expansion of artificial intelligence is making access to reliable, scalable and increasingly low-carbon power one of the most important infrastructure challenges facing data-centre operators globally. Marvel-Tech’s 30MW platform is well suited to the modular deployment requirements of AIDCs, while its fuel-flexible architecture provides customers with a credible pathway from natural gas to hydrogen and ammonia as green-fuel supply chains mature. We have been actively supporting Marvel-Tech’s global expansion and are pleased to deepen our partnership with Lin Gang and his team and to accelerate the manufacturing scale-up, commercialization and international business growth. We believe Marvel-Tech has the potential to become a globally competitive leader in advanced gas turbines and a critical enabler of both AI infrastructure development and the energy transition.”
*Subject to certain FDI procedures in China
About Marvel-Tech
Marvel-Tech, based in Shanghai and founded by a team of engineers returning from Germany, is a high-tech enterprise focused on the research, development and manufacturing of next-generation zero-carbon clean power-generation equipment. Its core products include gas turbines fueled by hydrogen, hydrogen-derived fuels and natural gas, as well as turbomachinery equipment for recovering industrial waste heat and pressure for power generation.
The company has independently developed the world's first hydrogen-ammonia gas turbine and the world's first tri-fuel, zero-carbon, low-NOx combustor, which can achieve dry low-NOx combustion using hydrogen, ammonia and natural gas without hardware modification. Based on a modular, platform-based product architecture, Marvel-Tech is currently offering an 8MW model for clean-fuels applications and a 30MW model for AIDC power applications.
Marvel-Tech aims to become a key enabler of off grid power and green transition for AI computing infrastructure. Its vision is to “let green electricity light every corner.”
For more information, please visit www.marvel-tech.cn
About Templewater
Templewater is an Asia-based alternative asset manager founded in 2018. The firm provides its investors, which include global institutions, family offices and high-net worth individuals, with two core pan-Asia strategies: (a) private equity focusing on mid-market buyout, and b) technology investment. Templewater’s mission is to provide financial and human capital, operational expertise, a corporate governance framework, and integrity to build leading businesses.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Templewater
Jason Li
Investor Relations
ir@templewater.com
+852 3187 5000
