Recently, Hengchuang Ruineng, a provider of comprehensive utilization solutions for new energy decommissioned lithium batteries, announced that it has completed a B+ round of financing of over 100 million yuan, led by GLP’s Yinshan Capital. This round of financing will be mainly used to improve the development of cascade utilization products, the construction of new energy decommissioned lithium battery recycling processing capacity and the expansion of new lithium battery wet recycling technology.
It is reported that Hengchuang Ruineng just completed the financing of over 300 million yuan jointly invested by star institutions such as Legend Capital, GF Capital, Hengxin Huaye, and Hanhui Capital in August, and the cumulative amount of the B round of financing exceeded 400 million yuan.
According to the data, Hengchuang Ruineng was established in 2017. It is an enterprise dedicated to the recycling and comprehensive utilization of retired power batteries. Based on the core technologies of lithium battery cascade utilization, material regeneration, and new material regeneration, it has created a large-scale lithium battery. The industrial ecological closed loop of automatic safe crushing, zero-pollution treatment, and high-yield recycling.
In 2020, Hengchuang Ruineng was also granted the qualifications of “Echelon Utilization White List” and “Recycling White List”, and became a fully licensed enterprise in the lithium battery recycling industry.
At present, Hengchuang Ruineng has deployed nine core recycling regional outlets across the country, covering battery manufacturers such as BYD, Sunwoda, and SKI, as well as OEMs such as GAC, FAW, and BAIC. In addition, Hengchuang Ruineng has also reached strategic cooperation with operators such as Shenzhen Bus Group and Guangzhou Public Transport Group, as well as a series of insurance scrap and dismantling factories such as PICC and Taibao. Recycling customers has opened up the upstream and downstream of the industry. At the same time, the company has entered the supply chain of international companies such as Apple, and the recycled materials produced have been applied on a large scale in the fields of new energy vehicles and consumer electronics.
Post time: Oct-26-2022