Lithium Battery Recycler Jinsheng New Energy Harvests Billions of CNY in Series B

Technology Author: Yanbing Gao Aug 16, 2022 10:52 AM (GMT+8)

Jinsheng New Energy, a lithium battery recycler, bags billions of CNY in a Series B financing round, led by Fosun RZ Capital.


Jinsheng New Energy, a lithium recycling solutions provider, announced the closing of a Series B funding round worth billions of CNY, led by Fosun RZ Capital. Institutions including China Structural Reform Fund and GAC Capital participated in this round and existing shareholders CICC and Publics Innovation Investment Management invested more.

The fund from this round of financing will be used to further improve the company's governance structure, improve production capacity and strengthen its industry research capabilities to grasp the latest development opportunities in the industry timely and strengthen the competitive advantage in terms of talent and product in all aspects, news portal reported.

The explosive growth of the new energy vehicle and energy storage markets would make the lithium battery recycling market usher in a 20-year golden era, considering factors of economic benefits, environmental protection and geopolitics, according to Sen Li, chairman of Jinsheng New Energy.

Jinsheng New Energy, established in 2010, is a large advanced manufacturer focusing on the comprehensive recycling of lithium batteries. It has built a complete integrated business ecology in lithium battery recycling, secondary use and recycling, creating a full lithium battery recycling supply chain system. The company provides complete recycling solutions for all types of lithium battery users.

Jinsheng New Energy’s closed loop of the lithium battery industry has effectively reduced the environmental pollution of retired lithium batteries and refines the economic value of retired lithium batteries at the same time, realizing both social and economic benefits. Its international competitors include Li-Cycle and AEA and domestic ones include Gotion High-tech (Chinese:国轩高科), CATL (Chinese:宁德时代) and GEM(Chinese:格林美).