Chinese lithium-ion battery materials maker Kuntian raises $137m

Chinese lithium-ion battery materials maker Kuntian raises $137m

Photo by Andrew Roberts on Unsplash

Hebei Kuntian New Energy, a Chinese manufacturer of anode materials used in lithium-ion batteries, has secured over 1 billion yuan ($137.4 million) in a strategic investment from investors including Sinopec Capital to expand its production capacity.

Sinopec Capital, the investment arm of China’s state-run oil and gas major Sinopec Group, invested in the deal as one of the three lead investors. SK China, the China branch of South Korean conglomerate SK Group, and financial services firm China International Capital Corporation’s wholly-owned investment platform CICC Capital jointly led the investment.

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