# Phase Two Chemicals

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/phase-two-chemicals

- Industry: Industrial Machinery
- Headquarters: Shanghai, China
- Website: https://phasetwochemicals.com
- Latest round: Series B (Mar 10, 2026)
- Investors on record: 5

## About

Based in Shanghai, China and founded in 2018, Shanghai Chengyang Technology Co., Ltd., dba Phase Two Chemicals, is a developer and manufacturer of electrochemical equipment enabling large-scale on-site production of hydrogen peroxide. The company's founder and CEO, Dr. Ming Qi, obtained his undergraduate degree in Chemical Engineering from Dalian University of Technology and earned his Ph.D. in Chemical Engineering at the University of Tennessee, Knoxville. The company has established R&D centers in Shanghai, China and Lowell, Massachusetts, United Sates, and production facilities in Shaoxing, China and Lancaster, United Sates.

In March 2026, Phase Two Chemicals closed a round of series B+ funding from Xin'an Capital.

Phase Two Chemicals focuses on R&D of electrochemical technology and equipment for on-site generation of hydrogen peroxide directly from oxygen, water, and electricity using caustic soda as a supporting salt. The company's technology can be applied to pulp and paper mills to produce hydrogen peroxide on-site.

The company generates revenue from providing electrochemical equipment for large-scale on-site production of hydrogen peroxide.

## Funding rounds

- Series B, Mar 10, 2026 — Xinan Capital
- Series B, Jul 28, 2024 — Source Code Capital
- Series A, Feb 18, 2022 — Yingde Gases Group Company Limited, Richland Capital, Solvay Ventures

## Investors

- Yingde Gases Group Company Limited — Series A
- Richland Capital (https://capitalatlas.ai/funds/richland-capital) — Series A
- Solvay Ventures — Series A
- Source Code Capital (https://capitalatlas.ai/funds/source-code-capital) — Series B
- Xinan Capital (https://capitalatlas.ai/funds/xinan-capital) — Series B