# Ningbo Ronbay Lithium Battery Material Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ningbo-ronbay-lithium-battery-material-co

- Industry: Energy Storage & Batteries
- Headquarters: Ningbo, China
- Website: www.ronbaymat.com
- Total disclosed funding: $366M
- Latest round: Series C (Mar 19, 2018)
- Investors on record: 13

## About

Based in Ningbo, China and established in 2014, Ningbo Ronbay Lithium Battery Material Co., Ltd. operates as a lithium battery cathode material developer that focuses on developing and manufacturing lithium batteries for the new energy car industry. The founder, Houshan Bai, is the director of China Chemical and Physical Power Supply Industry Association. There are more than 300 researchers with master's degree or above in the company's R&D team. It has established a provincial scientific research center and postdoctoral workstation and has undertaken a number of national scientific research projects, such as the Torch Plan, Spark Plan and National 863 Plan. In 2019, the company was listed on the Shanghai Stock Exchange Sci-Tech Innovation Board. In September 2023, Guotai Junan Securities, Lord Abbett China Asset Management Co.,ltd., AEGON-INDUSTRIAL Fund Management, The Hongkong and Shanghai Banking Corporation Limited, Zhejiang Fu Zhe Capital Management, China Cinda Securities, China Life Asset Management, Morgan Stanley Private Equity Asia, CITIC Securities, Guotai Junan Securities Asset Management, Truvalue Asset Management, Shanghai Guotai Junan Securities Asset Management, and Lifu Equity Investment, invested CNY 1.334 billion in the company.

Ronbay's main product category is lithium nickel cobalt manganese oxide, a ternary composite cathode material. These include NCM333, NCM523, NCM622 and NCM811. The products are mainly used in electric vehicles and hybrid vehicles.

The company's revenue and net income for 2022 were 30.12 billion and 1.37 billion, respectively.

## Funding rounds

- Series C, Mar 19, 2018, $220M — GSR Ventures, Sunshine Insurance Group, V Fund, FTZ Fund, Changjiang Securities
- Series B, Jun 1, 2017, $147M — TS First Fortune Asset Management, CAS Investment Management, Yangtze River Industry Fund, Wuyue Capital, Nord Engine Group, NIO Capital, Bridge Capital, Haitong New Energy Private Equity Management

## Investors

- TS First Fortune Asset Management — Series B
- CAS Investment Management (https://capitalatlas.ai/funds/cas-investment-management) — Series B
- Yangtze River Industry Fund (https://capitalatlas.ai/funds/yangtze-river-industry-fund) — Series B
- Wuyue Capital (https://capitalatlas.ai/funds/wuyue-capital) — Series B
- Nord Engine Group (https://capitalatlas.ai/funds/nord-engine-group) — Series B
- NIO Capital (https://capitalatlas.ai/funds/nio-capital) — Series B
- Bridge Capital (https://capitalatlas.ai/funds/bridge-capital) — Series B
- Haitong New Energy Private Equity Management (https://capitalatlas.ai/funds/haitong-new-energy-private-equity-management) — Series B
- GSR Ventures (https://capitalatlas.ai/funds/gsr-ventures) — Series C
- Sunshine Insurance Group — Series C
- V Fund (https://capitalatlas.ai/funds/v-fund) — Series C
- FTZ Fund (https://capitalatlas.ai/funds/ftz-fund) — Series C
- Changjiang Securities — Series C