Jinyu New Energy has completed a new round of strategic financing backed by a group of institutional investors, including the National Social Security Fund, BOC Asset Management, ABC Capital, Zhejiang Chuang Investment, and Hangzhou Capital. Existing shareholders Hangshi Group and Jiuzhi Capital also took part in the round through additional investment.
The company said the latest financing will support its efforts to advance solid-state battery development and industrialization with the combined support of national, provincial, municipal, and market-oriented investment institutions. Jinyu New Energy described the move as an important step in building its next phase of development in the solid-state battery sector.
Founded by a young doctoral team from Peking University and other universities, Jinyu New Energy is a national “specialized, sophisticated, distinctive, and innovative” small giant enterprise. The company has positioned itself as a leader in solid-state battery research and industrialization and serves as the national solid-state battery industrialization collaborative innovation base under the “Sci-Tech China” initiative. It has also secured several earlier financing rounds totaling hundreds of millions of yuan from investors including Guodian Investment’s Ronghe Technology, Jiuzhi Capital, and the Peking University Technology Transfer Fund.
Jinyu New Energy is a member of the MIIT lithium-ion battery safety standards working group and has helped develop the general specifications for lithium metal batteries and standards for anode-free lithium metal batteries. The company has established joint advanced battery laboratories with Peking University in Beijing and Hangzhou, along with manufacturing centers in Hangzhou and Huzhou. According to the company, it has delivered millions of solid-liquid hybrid battery cells and was among the first to achieve commercial delivery of all-solid-state batteries.
The company said it will continue working with upstream and downstream partners as well as universities and research institutes to turn advanced battery technologies into higher-safety new energy products.
Source: GF Energy
