What Kewell Technology Co., Ltd. does

Kewell Technology Co., Ltd. is a Hefei-based Chinese supplier of programmable power supplies and test systems for new energy applications, founded in 2011 and listed on the Shanghai Stock Exchange STAR Market (ticker 688551) in September 2020 as the first fuel cell test supplies stock in China. The company designs and manufactures DC/AC bi-directional programmable power supplies (S7200, D2000-EV/IV, C3000, S7000, A2000, G6000 series), DC electronic loads (E5000, E5100), battery cell and pack charge-discharge test systems (B2000-EC/EP), fuel cell test systems (C100, FCTS-S, FCTS-M), electrolyzer test systems spanning AEM, PEM, and alkaline platforms including 1MW, 2.5MW, 5MW and 8.5MW units, power semiconductor test systems (MX300, MX700 families), and e-motor emulators (A1100, M2000-MS). Its technology stack combines power electronics platforms with software simulation algorithms and measurement/control technologies, including an EtherCAT-based intelligent buffer control architecture that delivers 1ms full-data logging and sub-0.5ms command response, FFT-based electrochemical impedance spectroscopy for the DS-600 series, and Modbus-TCP integration into LIMS and MES platforms. Approximately 50%+ of headcount is technical personnel, supported by structured partnerships with Hefei University of Technology, Zhejiang University, Nanjing University of Aeronautics and Astronautics, Huazhong University of Science and Technology, Xi'an Jiaotong University, and Xi'an University of Technology, alongside the Kewell Scholarship program.

The company's revenue model is anchored on hardware sales of test instruments and turnkey systems, supplemented by professional services for on-site support, calibration, and customized system integration. Pricing is handled through a quotation-based sales process with no public list prices, and warranty terms of 12 months for on-site service products and 15 months otherwise. Go-to-market combines direct enterprise field sales backed by Field Application Engineers, a 60+ local representative network, an active 'Become A Distributor' channel program, and intensive participation in global industry events (The Battery Show, APEC, Hydrogen Technology Expo, World Hydrogen Summit, SMART ENERGY WEEK, Automotive Testing Expo, Electronica). Kewell distributes directly through wholly-owned branch offices in Beijing, Shanghai, Shenzhen, Xi'an, Nanjing, and Chongqing, an R&D center in Nanjing, a Daxing laboratory, and Kewell Europe B.V. in Heteren, Netherlands.

The company serves 2000+ customers across six primary verticals: AI server and data center power testing, photovoltaic and energy storage, electric vehicles, fuel cells, electrolyzers, and power semiconductors. Named enterprise customers include SinoHytec, SAIC Group, Yutong Bus, Weichai Power, SinoSynergy, Ballard Power Systems, CATARC, REFIRE, FTXT Energy, Zhejiang Fenergy, and CAIC. The fuel cell business grew 16x by volume between 2017 and 2019, reaching 21.74% of revenue, with approximately 100 fuel cell engine test systems sold within three years of launch. Recent milestones include the first domestically delivered 5MW alkaline electrolyzer test platform and an 8.5MW alkaline electrolyzer test platform shipped in August 2025.

Name

Kewell Technology Co., Ltd.

Legal name

Kewell Technology Co., Ltd.

Website

https://kewelltest.com

Company type

Public

Founded year

2011

Operating status

Operating

Short description

Kewell Technology Co., Ltd. is a Hefei-based, STAR Market-listed (688551) Chinese supplier of programmable power supplies and test systems for new energy applications, serving 2000+ customers across hydrogen fuel cells, electrolyzers, electric vehicles, photovoltaic/energy storage, power semiconductors, and AI server power.

Ownership category

akta.pro rank

Product category

Test & Measurement Equipment

NAICS

Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (334515), Electrical Equipment Manufacturing (3353), Electrical Equipment Manufacturing (33531)

SIC

Instruments For Meas & Testing Of Electricity & Elec Signals (3825), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electrical Industrial Apparatus (3620)

akta.pro primary industry

Power Quality, Metering & Monitoring (HDACAJAG)

akta.pro secondary industry

Industrial Control Panels & Enclosures (Panel Building, MCCs, Integration) (IMAGABAJ)

Keywords

• Programmable power supplies
• Battery test systems
• Fuel cell testing
• Electrolyzer test systems
• Power electronics test equipment

Headquarters

HQ city

Hefei

HQ country

China

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Hardware Sales - Test Equipment and Systems: Sale of programmable power supplies, DC/AC power supplies, electronic loads, battery testing systems, hydrogen/fuel cell test systems, and power semiconductor test systems. Products range from individual instruments to complete turnkey test solutions. Warranty periods are 12 months for on-site service products and 15 months for products without on-site service.
2. Professional Services - Technical Support and Training: On-site service, technical support, and after-sales service provided through dedicated customer service team. Services include spare parts, calibration, and ongoing technical assistance.
3. Customized Solutions and Systems Integration: Turnkey test solutions and system integration for specific industry applications including fuel cell testing, battery testing, and power semiconductor testing. Customization services for specific customer requirements.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels9 records

Core offering

Kewell designs, manufactures and sells programmable DC/AC power supplies, DC electronic loads, e-motor emulators, battery charge-discharge test systems, hydrogen/fuel cell test systems, electrolyzer test systems, and power semiconductor test systems. The company provides turnkey test solutions for AI server power, photovoltaic/energy storage, electric vehicles, hydrogen energy, and power semiconductor applications, leveraging power electronics platforms integrated with software simulation, measurement, and control technologies.

Product overview

Kewell Technology Co., Ltd. is a high-tech enterprise specializing in programmable power supplies and test systems for multiple industries. The company offers a comprehensive portfolio organized into three main categories: (1) Programmable Power Supplies including DC power supplies (S7200, D2000-EV/IV, C3000, S7000 series), DC electronic loads (E5000, E5100 series), and AC power supplies (A2000, G6000 series); (2) Battery and Hydrogen Test Systems including cell/pack charge-discharge test systems (B2000-EC/EP), fuel cell test systems (C100, FCTS-S/M), electrolyzer test systems (E500, HETS series including 5MW/8.5MW alkaline platforms), and EIS test systems (DS-600); (3) Power Semiconductor Test Systems including static/dynamic test systems (MX700-S/D) and thermal/reliability test systems (MX300-C/R); and (4) Industry-Specific Solutions for AI server power, PV/energy storage, electric vehicles, fuel cells, electrolyzers, and power semiconductors. The products utilize advanced technologies including EtherCAT communication, Modbus-TCP integration, and bi-directional power flow capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Programmable DC Power Supplies and DC Electronic Loads
• Bi-directional Programmable AC Power Supplies and AC Source-Load Systems
• Battery Charge-Discharge Test Systems
• Fuel Cell Test Systems
• Electrolyzer Test Systems
• Electrochemical Impedance Spectroscopy (EIS) Test Systems
• Power Semiconductor Test Systems
• AI Server Power System Test Solution
• Fuel Cell Test Solutions
• Electrolyzer Test Solutions
• PV & Energy Storage Test Solutions
• Electric Vehicle Test Solutions
• Power Semiconductor Test Solutions
• Professional Services and Customized Solutions

Quantifiable outcome

• Fuel cell business revenue contribution grew from 2.54% to 21.74% of total revenue (2017-2019), with volume increasing 16x
• +4 more outcomes

Named customers11 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability6 records

Feature9 records

Partnerships

One partnership is on record.

• Anhui Hanxian Intelligent Technology Co., Ltdrelated entityOthersRelated company of Kewell Technology Co., Ltd located in Hefei High-tech Industrial Development Zone. Contact information provided on same business cooperation page.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Keysight Technologies: Global leader in electronic test and measurement equipment offering power supplies, electronic loads, and comprehensive solutions across multiple industries. Significantly larger player with broader portfolio and established relationships with Tier-1 customers in semiconductor, automotive, and electronics.
• AMETEK Programmable Power: Subsidiary of AMETEK Inc. providing programmable power supplies, DC electronic loads, and test systems for aerospace, automotive, and industrial applications. Established incumbent with global service network and broader customer footprint in regulated and high-reliability markets.

Direct peers

• Kikusui Electronics Corporation: Japanese manufacturer of programmable AC/DC power supplies, electronic loads, and test systems for power electronics, EV battery, and renewable energy applications. Direct competitor with strong position in Japanese and Asian markets and comparable product specialization.
• Magna-Power Electronics: US-based manufacturer of programmable DC power supplies, electronic loads, and renewable energy test systems. Direct peer in the high-power programmable power supply segment with overlap in solar inverter, battery, and hydrogen testing applications.
• ITECH Electronic Co., Ltd. China-based manufacturer of programmable power supplies, electronic loads, and test systems with strong presence in EV, battery, and renewable energy applications. Direct domestic competitor with comparable product range and target customer base in China.
• Regatron AG: Swiss manufacturer of programmable DC power supplies and regenerative electronic loads for automotive, battery, and renewable energy testing. Direct peer in bi-directional and regenerative power supply technology with comparable customer profile in EV and energy storage applications.
• NF Corporation: Japanese manufacturer of power electronics test equipment including programmable power supplies, electronic loads, and signal generators for automotive, energy, and electronic component testing. Direct peer in the programmable power supply market with established customer base in Asia.
• Chroma ATE Inc. Taiwan-based manufacturer of programmable DC/AC power supplies, electronic loads, and automated test systems for power electronics, EV, and battery applications. Most direct competitor to Kewell with overlapping product portfolio and similar target customers in the new energy test equipment market.
• EA Elektro-Automatik GmbH: German manufacturer of programmable DC power supplies, bi-directional power supplies, and electronic loads for automotive, renewable energy, and fuel cell applications. Direct European competitor with strong position in EV and hydrogen testing, overlapping with Kewell's product portfolio and customer segments.

Emerging players

• Greenlight Innovation Corp. Canadian provider of fuel cell and electrolyzer test stations and turnkey test solutions for the hydrogen economy. Emerging specialist competitor in fuel cell testing equipment with overlap in hydrogen testing customers and applications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/kewelltest
• YouTubeyoutube.com/@KewellTechnologyCo.Ltd
• Facebookfacebook.com/profile.php?id=61557532841954
• LinkedInlinkedin.com/company/kewell

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kewell Technology Co., Ltd.