HONG KONG, Aug. 8, 2022 – (ACN Newswire) – Shenzhen Ruicycle Environmental Protection Technology Co., Ltd (also known as Hengchuang Ruineng), a battery recycling company, recently conducted Fundraising Round B with more than 300 million RMB, being backed by Legend Capital. This round of fundraising will be mainly used to improve the development of the series of products used by Echelon, the construction of new recycling capacity for retired lithium batteries and the expansion of new recycling technology by way wet lithium batteries.
Founded in 2017, Ruicycle is a national high-tech enterprise dedicated to “making new energy truly green energy”, deeply committed to the field of recycling and full utilization of retired power batteries. It is committed to pursuing the concept of green and low-carbon development. Directed towards the end of the new energy industry, Ruicycle has built an industrial ecological closed loop of large-scale automatic safe crushing, pollution-free processing and high-efficiency recycling of lithium batteries based on the core technologies of the use of lithium battery echelon, regeneration of materials and regeneration of new materials. Meanwhile, focusing on state-of-the-art national carbon and carbon neutrality policies, Ruicycle has achieved carbon footprint traceability and carbon reduction quantification, continuously contributing to low-carbon development for the new energy industrial chain.
In 2020, Ruicycle obtained the “Echelon Utilization White List” and “Recycling Utilization White List” qualifications, becoming the fully licensed company in the lithium battery recycling industry. Ruicycles’ revenue exceeded RMB 1 billion with a CAGR of over 100% in 2021. It has now been recognized as the top tier enterprise in China’s recycling and comprehensive utilization industry. electric batteries.
Ruicycle is the first company in the world to dedicate the intelligent management of temperature sensing cameras to the field of retirement battery storage. It has established industrial bases for phased utilization and recycling in Huizhou, Jiangmen and Ganzhou, respectively, reaching a recycling capacity of 150,000 tons per year of spent electric batteries. At the same time, Ruicycle also cooperated with Legend Capital’s holding company, Milkyway, a leading hazardous chemical logistics company, to build a world-leading ESG recycling system.
CHEN Zhipeng, the founder of Ruicycle, said, “We are a relatively young team. In line with the trend of the new energy era, we look forward to learning more about the industry predecessors to root ourselves more deeply in the physical manufacturing industry. At the same time, we look forward to more young aspirants joining us to create an effective organization and together contribute to the globalization of the experience of new energy industrialization.
Legend Capital’s carbon neutral investments focus on energy decarbonization, vehicle electrification/intelligence, synthetic biology, and more. Energy decarbonization includes photovoltaic, wind and smart grid; vehicle electrification/intelligence includes lithium battery vehicles, hydrogen fuel cell vehicles, battery recycling and others.
Legend Capital has long been optimistic about the investment opportunities in the new energy vehicle industry chain, and has invested in a number of automation equipment, lithium battery and materials companies, many of which have successfully gone public, such as Wuxi Lead Intelligent Equipment (300450.SZ), CNGR Advanced Material (300919.SZ), Shanghai Putailai New Energy Technology (603659.SH), Shenzhen Hymson Laser Intelligent Equipments (688559.SH), Shenzhen Hummingbird Technologies (002957.SZ). At the same time, Legend Capital is also an early investor in CATL (300750.SZ).
About Legend Capital
Founded in 2001, Legend Capital is a leading venture capital and private equity investor focused on start-up and growth opportunities in China, with offices in Beijing, Shanghai, Shenzhen, Hong Kong and Seoul, in Korea.
It currently manages USD and RMB funds of over $10 billion in commitments and has invested in approximately 600 companies, spanning the technology, healthcare, consumer, business services and technology sectors. smart manufacturing. Rooted in China, Legend Capital has participated in the rise of many world-renowned companies through strong investment coverage and systematic post-investment value addition. Over the years, Legend Capital has also become a widely recognized name in bringing together key resources in China and abroad through cross-border business, and a valuable partner for Chinese and foreign investors.
Legend Capital values long-term sustainable investing and integrates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top venture capital/PE firms in China to join the initiative.
For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital).
Source: Legend Capital
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