Zhongan Energy has successfully secured over 100 million RMB in a Pre-A financing round to advance its sodium-ion battery technology, backed by prominent investors like Kunlun Capital.

Target Information

Zhongan Energy, established in January 2021, is an emerging player in the research and manufacturing of sodium-ion batteries. The company has successfully raised over 100 million RMB in a Pre-A financing round, with investments from Kunlun Capital, Qingyan Capital, Dongze Industrial Fund, and existing shareholder Suzhou High-tech Venture Capital. Zhongan Energy holds numerous patents related to sodium-ion technology, developed through collaborative research conducted over five years by faculty teams from six top-tier universities in China, including Suzhou University, Nanjing University, Xiamen University, Fuzhou University, Zhejiang University, and the Institute of Nano Science at the Chinese Academy of Sciences. In March 2022, Zhongan Energy previously completed funding to expand its research and production technology team.

The company has focused on the polyanion technology route and introduced one of its flagship products, sodium iron sulfate batteries, in 2022. This product demonstrates impressive laboratory performance, achieving an energy density of 160 wh/kg and an engineering cell energy density exceeding 120 wh/kg. Under 2C charge and discharge conditions, the cycle life surpasses 6,000 cycles, with a temperature rise of less than 13 degrees Celsius during continuous 5C operation. Given the current high prices of lithium carbonate, sodium iron sulfate batteries might provide a viable alternative, offering a cost that is only 40% of lithium iron phosphate's while achieving approximately 70% of its energy density. In addition to their cost-effectiveness, these batteries exhibit excellent safety and performance in both high and low temperatures, indicating strong market potential in numerous multi-trillion-yuan application scenarios such as energy storage facilities, new energy vehicles, and low-speed electric tools.

Industry Overview in China

The sodium-ion battery sector in China is experiencing rapid growth due to the increasing demand for energy storage solutions and electric vehicles, coupled with the urgent need for more sustainable energy alternatives. The country's strong emphasis on achieving carbon neutrality has fueled investment and i