Huineng Technology has received continuous investment from Softbank China.
It is learned that the solid-state lithium battery technology company “Hui Neng Technology” today announced the completion of nearly USD 100 million in Series D financing. China Investment Capital acted as the exclusive financial advisor for this round of financing. This round of financing will be used for the commercial landing and plant construction of solid-state lithium batteries. Previously, Huineng Technology had received continuous investment from Softbank China and Danfeng Capital.
Hui Neng Technology was established in 2006, and achieved commercial mass production of solid-state lithium batteries in 2013. It was early used in the field of consumer electronics and has been used in the field of new energy vehicles in recent years. In 2017, Huineng Technology built a 40MWh pilot line and realized automated roll production. The company said that they expect to complete the test run of the 1GWh solid-state battery production line this year and start mass production next year, 4-5 years earlier than its peers.
In 2019, Huineng Technology demonstrated a solid-state battery pack for vehicles at the CES Consumer Electronics Show in the United States, which uses Multi Axis BiPolar + (MAB) multi-axis bipolar packaging technology. Under the same loading capacity, the battery pack of the Huineng solid-state lithium battery is only half the size of the traditional battery pack, and the weight is only 70% of the traditional battery pack. The technology also won the Gold Award in the Materials and Engineering category of the American Edison Invention Award in 2019.
According to the information provided by Huineng Technology, the energy density of its on-board solid-state battery pack has reached 190Wh / kg, 420Wh / L, and is expected to reach 270Wh / kg, 620Wh / L in 2022. At the same time, Huineng Technology is conducting prototype test with a number of domestic and foreign automakers, and mass production is expected to be loaded in 2021. In 2019, Huineng Technology signed a strategic cooperation agreement with Weilai Automobile, Aichi and other new energy vehicle OEMs, and will strengthen strategic cooperation with FAW Group after this round of financing.
Speaking of competitive advantages, Yang Sihao, founder of Huineng Technology, said that they have studied the solid oxide route for more than 13 years, overcome the material bottleneck and the challenges of mass production process preparation, and created solid lithium ceramic battery cells, The exclusive patented technology of the MAB (multi-axis bipolar) battery pack can solve the safety problems and mileage anxiety of electric vehicles at the same time, and has a longer service life than traditional lithium batteries, 5C fast charge, and high and low temperature resistance. The MAB liquid-cooled design can simplify the battery pack design, reduce the battery pack cost, and increase the battery pack energy density, while the air-cooled MAB in the second generation of R & D can further reduce the complicated design of the three electrics and reduce the cost of the entire vehicle. Huineng solid-state lithium battery is a systematic platform, which can use high-performance NMC ternary cathode materials, or low-cost lithium iron phosphate cathode materials to meet a variety of different market needs.
She Libin, Managing Director of the Capital Industry and High Technology Group, said that the global new energy vehicle market