Recently, Zhejiang Tianneng New Materials Co., Ltd. completed a round A financing of Yuan 1 billion, led by Puhua Capital and CICC Capital, and co invested by China Building Materials Fund Management Co., Ltd. and Zhejiang Fu Zhe Capital Management Co., Ltd.
Tianneng New Materials was established in 2018, mainly engaged in the recycling, reuse, and cascade utilization of retired lithium-ion batteries. In December 2021, it obtained the certification of the Ministry of Industry and Information Technology's dual white list for recycling of retired power lithium batteries. The company currently has the ability to process 23,000 tons of retired power lithium-ion batteries annually for cascade utilization and green recycling.
Edited by Cassie Li, lixiangying@mysteel.com
