Fox Ess

Fox ESS Co., Ltd.
Fox ESS
Native name
麦田能源股份有限公司
TypePrivately held company
IndustryRenewable energy equipment
Founded23 September 2019; 6 years ago (2019-09-23)
FounderZhu Jingcheng
Headquarters
Wenzhou, Zhejiang
,
China
Key people
Zhu Jingcheng (chairman and general manager)
ProductsBattery energy storage systems, photovoltaic inverters, hybrid inverters, microinverters, electric vehicle chargers, heat pumps and energy-management software
RevenueCN¥6.531 billion (2025)
CN¥1.121 billion (2025)
Number of employees
3,207 (2025)
Websitewww.fox-ess.com

Fox ESS Co., Ltd. (Chinese: 麦田能源股份有限公司), trading as Fox ESS, is a Chinese manufacturer of photovoltaic inverters and battery energy storage systems headquartered in Wenzhou, Zhejiang. Founded in 2019, it develops equipment for the conversion, storage and management of electricity, primarily for distributed solar generation and residential and commercial energy storage.[1]

The company's product range includes residential and commercial battery systems, grid-connected, hybrid and microinverters, electric vehicle chargers, heat pumps and energy-management software. Its business is predominantly international; overseas sales accounted for 99.33% of its principal-business revenue in 2025.[1]

History

Fox ESS was established in Wenzhou on 23 September 2019 by Zhu Jingcheng, who had previously worked in the solar-inverter industry. The founding shareholders were Jiangsu MaiTian Energy Technology, Yongqing Technology and Jiangsu Xiangtian New Energy Technology. Yongqing Technology is associated with Tsingshan Holding Group, while Fox ESS's 2026 prospectus identifies Jiangsu MaiTian as the controlling shareholder and Zhu as the company's ultimate controller.[1][2]

The company began overseas shipments in 2020 and opened its Wenzhou headquarters in 2021. It established additional research and sales operations in China and Europe during the following years. On 12 January 2023, the limited-liability company was converted into a joint-stock company. A pre-IPO funding round announced in May 2023 reportedly raised about CN¥1 billion and valued the company at more than CN¥10 billion.[2]

On 26 June 2025, the Shenzhen Stock Exchange accepted Fox ESS's application for an initial public offering on the ChiNext board. The application proposed issuing up to 90 million new shares and raising approximately CN¥1.661 billion.[3] Updated application documents were published in June 2026. As of 30 June 2026, the exchange's review remained at the inquiry stage and the company had not listed.[4]

Products and operations

Fox ESS develops energy-storage systems, grid-connected inverters and related energy-management equipment. Its storage products combine batteries, battery-management systems and inverters for residential and commercial applications. The company also sells electric vehicle chargers and heat pumps, and operates the FoxCloud monitoring platform.[1]

In 2025, Fox ESS reported revenue of CN¥6.531 billion, net income of CN¥1.121 billion and 3,207 employees. Its principal-business revenue was CN¥6.488 billion, of which Europe accounted for 60.21% and Oceania for 25.50%. Overseas sales represented 93.85% of principal-business revenue in 2023, 97.54% in 2024 and 99.33% in 2025.[1] The company has subsidiaries in markets including the Netherlands, the United Kingdom, Australia, Germany, South Korea, Italy, the United States, Poland, France, the United Arab Emirates and Brazil.[1]

In June 2026, Fox ESS signed separate supply agreements with Australian distributors Solar Juice and OSW covering a combined 10 GWh of battery energy storage products over two years.[5]

Product testing

Fox ESS products have been included in independent testing of photovoltaic storage systems. In the 2026 Energy Storage Inspection, the Berlin University of Applied Sciences and Technology and its spin-off aquu assessed 12 residential storage systems in the 5 kW and 10 kW classes. The Fox ESS PQ-H3-Ultra-10.0 hybrid inverter paired with the EQ3300-5 battery achieved a System Performance Index (SPI) of 97%—the highest result among the 10 kW hybrid-inverter systems tested—and recorded standby consumption of 4 W.[6] The SPI measures the overall energy performance of a photovoltaic battery system under standardised operating conditions; it is not the efficiency rating of an individual inverter or battery component.[6]

References

  1. ^ a b c d e f Fox ESS Co., Ltd. (30 June 2026). 首次公开发行股票并在创业板上市招股说明书（申报稿） [Prospectus for the Initial Public Offering and Listing on the ChiNext Market (Application Draft)] (PDF) (Report) (in Chinese). Shenzhen Stock Exchange. pp. 39, 93, 111–121, 155, 163–164, 237–242, 316–317. Retrieved 19 August 2026.
  2. ^ a b Gelonghui (9 August 2023). "温州首富"镍王"押注，这家户储独角兽要IPO [Wenzhou's 'Nickel King' backs this home-storage unicorn's IPO bid]". 36Kr (in Chinese). Retrieved 19 August 2026.
  3. ^ Kang, Yin (27 June 2025). "麦田能源创业板IPO获受理，拟募资16.61亿元 [Fox ESS's ChiNext IPO application accepted; plans to raise 1.661 billion yuan]". Securities Times (in Chinese). Retrieved 19 August 2026.
  4. ^ "麦田能源股份有限公司 IPO进程 [Fox ESS Co., Ltd. IPO progress]". Securities Times (in Chinese). 30 June 2026. Retrieved 19 August 2026.
  5. ^ Carroll, David (16 June 2026). "Fox ESS ramps up presence with combined 10 GWh supply contracts". pv magazine Australia. Retrieved 19 August 2026.
  6. ^ a b Orth, Nico; Weniger, Johannes (30 March 2026). "The new winners of the Energy Storage Inspection are Fox ESS, SMA, SAX Power, Kostal, and BYD". HTW Berlin and aquu. Retrieved 19 August 2026.

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