The company reaches $200 million in annual revenue and reinforces its market shares
LOS ANGELES, Jan. 1, 2022 /PRNewswire/ — EcoFlow, a portable power and renewable energy solutions company, today revealed that its annual revenue reached $200 million in 2021, increasing by 275% compared to the year before. EcoFlow has more than tripled its sales for the second consecutive year, outrunning the global portable power station market’s CAGR of 42%.
“The impressive sales growth can be attributed to a few things,” said Allen Zheng, Sales Director at EcoFlow. “Our expansion to over 100 markets and the complete rollout of the RIVER and DELTA product lines are the main reasons. Rising power demand caused by increasing cases of extreme weather-related power outages also played a part.”
In addition to the rapid sales growth, 2021 has been a milestone year for EcoFlow. In June, the company received a Series B investment of over $100 million from Sequoia’s China fund, Hillhouse, and CICC. The funding round catapulted the company to one of the top industry leaders and saw the company valued at over $1 billion. One month later, EcoFlow launched the DELTA Pro, the industry’s first portable home battery, on Kickstarter. The EcoFlow DELTA Pro went on to break Kickstarter’s record for the most-funded tech project by raising over $12 million and was named one of TIME’s 100 Best Inventions in 2021.
EcoFlow also took a more active role in environmental issues and emergency preparedness in 2021. In March, EcoFlow initiated a long-term reforestation fundraising campaign for the Million Forest Plan, an ecological project jointly initiated by the United Nations Environment Program, the Climate Organization, and the China Green Foundation. In September, EcoFlow launched an educational campaign — ‘Peace of Mind’, which aimed to inform individuals about the importance of natural disaster preparedness through influencers and subject matter experts.
“We have great confidence in 2022 as what we’ve accomplished in the past year is a good indicator. EcoFlow will continue to expand in a socially responsible way while powering a new world,” Zheng said.
EcoFlow is a portable power and renewable energy solutions company. Since its founding in 2017, EcoFlow has provided peace-of-mind power to customers in over 85 markets through its DELTA and RIVER product lines of portable power stations and eco-friendly accessories. EcoFlow’s mission is to reinvent the way the world accesses energy by innovating lighter-weight and longer-lasting clean, quiet and renewable power storage solutions.
SOURCE: EcoFlow Inc.