Recently, Yingde Gases completed its A-round financing amounting to tens of millions of yuan for its first venture capital project, Chengyang Tech Co., Ltd.
Established in 2018, Chengyang Tech is a leading core technology company that primarily deals with Power-to-X technology and on-site chemical production equipment. It has R&D centers in Shanghai and Boston with a manufacturing base in Zhejiang.
The innovation and industrialization of key technology equipment in the electrochemical sector could promote green and zero-carbon development in energy and chemical fields. In this round of financing, Yingde Gases took on the role as the lead investor while Richland Capital and Solvay also participated in the financing exercise. The dual forms of recognition in both industrial capital and financial capital will drive the technological R&D and marketization efforts in the electrochemistry sector while expediting the implementation of the national "dual carbon" objectives.
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