# Tianneng New Materials

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tianneng-new-materials

- Industry: Environmental Services
- Headquarters: Huzhou, China
- Website: www.zjtnxcl.com
- Total disclosed funding: $137M
- Latest round: Series A (Aug 16, 2023)
- Investors on record: 4

## About

Established in 2018 and based in Huzhou, China, Tianneng New Materials is an environmental services company that specializes in providing recycling services for used power batteries of new energy vehicles. The company has applied for 19 patents, including 11 invention patents and 1 PCT. In August 2023, it raised CNY 1 billion in series A funding co-led by new investors CICC Capital and Puhua Capital, with participation from other new investors CNBM Private Equity Fund Management (Beijing) and Zhejiang Fuzhe Capital Management Co., Ltd.
 
The company is engaged in the recycling, disposal, and reuse of used lithium batteries. It also provides aluminum, lithium carbonate, melamine powder, cobalt sulfate, etc.

The company will use the series A funding to fuel the construction of the company's production base and optimize the layout of regional recycling bases and used battery recycling channels.

## Funding rounds

- Series A, Aug 16, 2023, $137M — China International Capital Corporation, Puhua Capital, Zhejiang Fuzhe Capital Management Co., Ltd., China National Building Materials Private Equity Fund Management (Beijing)

## Investors

- China International Capital Corporation (https://capitalatlas.ai/funds/china-international-capital-corporation) — Series A
- Puhua Capital (https://capitalatlas.ai/funds/puhua-capital) — Series A
- Zhejiang Fuzhe Capital Management Co., Ltd. — Series A
- China National Building Materials Private Equity Fund Management (Beijing) (https://capitalatlas.ai/funds/china-national-building-materials-private-equity-fund-manage) — Series A