ZGT has raised $48m from Tsinghua Holdings Capital, CAS Star and others, while University of Cambridge spinout Colorifix has pocketed $22.7m.

Zhongshu Guoneng Technology (ZGT), a China-based compressed air energy storage technology spinout of Chinese Academy of Sciences, has pocketed $48m in pre-series A-plus financing led by Tsinghua Holdings Capital, a vehicle for Tsinghua University’s asset management arm Tshingua Holdings. The round included Chinese Academy of Sciences’ early-stage vehicle CAS Star, as well as Legend Star,…

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