STOCK TITAN
  1. Home
  2. Sec-filings
  3. UCAR
  4. [6-K] U Power Ltd Current Report (Foreign Issuer)

U Power (NASDAQ: UCAR) targets 100MW Thai data center energy project

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

U Power Limited has entered the data center energy sector through a new joint venture and project agreement in Southeast Asia. On April 23, 2026, it signed a joint venture agreement with Guofu Hydrogen Energy and Cloud Digital Chain to create Hydro Data Limited, a U Power-controlled entity formed in Hong Kong on May 20, 2026.

On May 26, 2026, Hydro Data Limited agreed with CEWA Group and Guofu Hydrogen Energy to deliver an integrated energy solution for a 100MW intelligence data center project in Rayong, Thailand. The plan starts with a 3MW pilot by the end of 2026 to test technology and economics before scaling. U Power aims to use this project to expand into comprehensive energy solutions for regional data centers and sees potential recurring revenue from system design, equipment, installation, operations, fuel supply, and energy management in Thailand’s growing data center market.

Positive

  • None.

Negative

  • None.

Insights

U Power moves into Southeast Asian data center energy via a new joint venture and 100MW project framework.

U Power is positioning itself in the data center energy value chain by forming Hydro Data Limited and securing a role as comprehensive energy solution provider for a 100MW intelligence data center project in Rayong, Thailand.

The structure relies on a phased rollout, beginning with a 3MW pilot by the end of 2026 to validate both technology and economics before any scale-up. Partners CEWA Group and Guofu Hydrogen Energy provide regional infrastructure and hydrogen systems, which could be important for execution.

The company highlights Thailand’s data center growth, grid constraints, and potential recurring revenue from system design, equipment, installation, operations, fuel, and energy management. Actual financial impact will depend on successful pilot completion and follow-on deployments under the contemplated 100MW framework.

Intelligence data center capacity 100MW Planned IDC project in Rayong, Thailand
Pilot project capacity 3MW Initial pilot phase by end of 2026
Joint venture agreement date April 23, 2026 U Power JV agreement with partners
Hydro Data Limited incorporation May 20, 2026 JV established in Hong Kong
IDC Agreement date May 26, 2026 Energy solution agreement for Rayong IDC
material definitive agreements regulatory
"Entry Into Material Definitive Agreements On April 23, 2026, U Power Limited..."
joint venture agreement financial
"entered into a joint venture agreement with Jiangsu Guofu Hydrogen Energy..."
A joint venture agreement is a legally binding contract where two or more parties combine resources to run a specific business project or entity, spelling out who contributes what, how decisions are made, how profits and losses are shared, and how the venture can end. Investors care because the agreement determines control, financial exposure, potential returns, and exit options—much like a clear housemate contract that prevents disputes over money, chores, and belongings.
AI-driven energy management solutions technical
"aimed at providing AI-driven energy management solutions for data centers..."
intelligence data center technical
"integrated energy solution for a 100MW intelligence data center ("IDC") project..."
comprehensive energy solution provider financial
"Hydro Data Limited, as the comprehensive energy solution provider ("Hydro Data"), will work with CEWA..."
See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Form 6-K: How Foreign Companies Report to the SEC →

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of June 2026

 

Commission File Number: 001-41679

 

U Power Limited

 

2F, Zuoan 88 A, Lujiazui,

Shanghai, People’s Republic of China

(Address of principal executive offices) 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒        Form 40-F ☐

 

 

 

 

 

Entry Into Material Definitive Agreements

 

On April 23, 2026, U Power Limited, an exempted company with limited liability formed in the Cayman Islands (“U Power” or the “Company”), entered into a joint venture agreement with Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd. (“Guofu Hydrogen Energy”) and Cloud Digital Chain Limited to establish a U Power-controlled joint venture aimed at providing AI-driven energy management solutions for data centers, initially in Thailand, and with plans for global expansion (the “Joint Venture Agreement”). Based on the Joint Venture Agreement, the joint venture, “Hydro Data Limited,” was established in Hong Kong on May 20, 2026.

 

On May 26, 2026, Hydro Data Limited entered into an agreement with CEWA Group (“CEWA”) and Guofu Hydrogen Energy, for the development of an integrated energy solution for a 100MW intelligence data center (“IDC”) project in Rayong, Thailand (the “IDC Agreement”).

 

Pursuant to the IDC Agreement, Hydro Data Limited, as the comprehensive energy solution provider (“Hydro Data”), will work with CEWA, as the regional infrastructure developer, and Guofu Hydrogen Energy, as the hydrogen systems provider, to execute the project with a phased deployment structure, beginning with a 3MW pilot project in Rayong, Thailand by the end of 2026 to validate the technology and economics and to establish a framework for deploying integrated hydrogen-based and clean energy solutions for large-scale digital infrastructure, with potential to scale up to 100MW.

 

Through the project contemplated in the IDC Agreement, the Company expects to facilitate its expansion into comprehensive energy solutions for IDCs in Southeast Asia and anticipates such project to provide the Company exposure to Thailand’s growing data center market. The Company believes that the data center market in Thailand , which is presently driven by digital economy initiatives and grid constraints, may provide recurring revenue opportunities relating to system design, equipment supply, installation, operations and maintenance, fuel supply, and energy management.

 

The foregoing descriptions of the Joint Venture Agreement and the IDC Agreement are qualified in their entirety by reference to the full text of each such the agreement, which are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively.

 

Exhibits

 

Exhibit No.   Description
10.1   Joint Venture Agreement dated April 23, 2026 by and among the Company, Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd. and Cloud Digital Chain Limited
10.2   Agreement on Comprehensive Energy Solutions dated May 26, 2026 by and among Hydro Data Limited, CEWA Group and Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd.

 

1

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Dated: June 9, 2026

  

  U Power Limited
     
  By: /s/ Jia Li
  Name:  Jia Li
  Title: Chief Executive Officer

 

2

 

Source: View Original Filing on SEC EDGAR

FAQ

What new business initiative did U Power (UCAR) announce in Thailand?

U Power formed Hydro Data Limited and signed an agreement to provide integrated energy solutions for a 100MW intelligence data center project in Rayong, Thailand. It will act as comprehensive energy solution provider alongside CEWA Group and Guofu Hydrogen Energy, targeting Southeast Asia’s expanding data center market.

What are the key terms of U Power’s 100MW intelligence data center project?

Hydro Data Limited agreed with CEWA Group and Guofu Hydrogen Energy to deliver an integrated energy solution for a 100MW intelligence data center in Rayong, Thailand. The project uses a phased approach, starting with a 3MW pilot to validate technology and economics before any potential scale-up.

When will U Power’s 3MW pilot project in Thailand begin operations?

The 3MW pilot project for the Rayong intelligence data center is planned by the end of 2026. This initial phase aims to test the integrated hydrogen-based and clean energy solutions, validating performance and economics before rolling out larger capacity toward the contemplated 100MW level.

How does U Power (UCAR) expect to generate revenue from the Thailand data center project?

U Power expects potential recurring revenue from multiple services related to the project. These include system design, equipment supply, installation, operations and maintenance, fuel supply, and ongoing energy management for intelligence data centers in Thailand’s growing, grid-constrained digital infrastructure market.

Which partners are involved in U Power’s new data center energy venture?

U Power partnered with Jiangsu Guofu Hydrogen Energy Equipment and Cloud Digital Chain to form Hydro Data Limited. For the Rayong project, Hydro Data will work with CEWA Group as regional infrastructure developer and Guofu Hydrogen Energy as hydrogen systems provider to deliver the integrated energy solution.

Filing Exhibits & Attachments

2 documents

Agreements & Contracts