New Power to Legend Capital Carbon Neutral Investment Portfolio: Ruicycle Raises Over RMB 300 Million from Series B
2022年8月8日 - 2:49PM
JCN Newswire
Shenzhen Ruicycle Environmental Protection Technology Co., Ltd
(also known as Hengchuang Ruineng), a battery recycling company,
recently accomplished the B round of fundraising with over RMB 300
million, which is backed by Legend Capital. This round of
fundraising will be mainly used to improve the development of the
echelon utilized product series, the construction of new energy
retired lithium battery recycling capacity, and the expansion of
new lithium battery wet recycling technology.
Founded in 2017, Ruicycle is a national high-tech enterprise
dedicated to "Making New Energy a Truly Green Energy", deeply
engaging in the field of recycling and comprehensive utilization of
retired power batteries. It is committed to pursuing the concept of
green and low-carbon development. Directing at the end of the new
energy industry, Ruicycle has built an industrial ecological closed
loop of large-scale automatic safe crushing, zero-pollution
treatment, and high-efficiency recycling of lithium batteries based
on the core technologies of lithium battery echelon utilization,
material regeneration, and new material regeneration. Meanwhile,
centering on the national carbon peaking and carbon neutrality
policies, Ruicycle has achieved the traceability of carbon
footprint and the quantification of carbon reduction, continuously
making contributions to low-carbon development for the new energy
industrial chain.
In 2020, Ruicycle was granted the qualifications of "Echelon
Utilization White List" and "Recycling Utilization White List",
becoming the fully licensed enterprise in the lithium battery
recycling industry. Ruicycles revenue exceeded RMB 1 billion with a
CAGR of over 100% in 2021. Now it has been recognized as the first
echelon enterprise in China's power battery recycling and
comprehensive utilization industry.
Ruicycle is the world-first company devoting intelligent management
of temperature-sensing cameras to the retired battery storage
field. It has established industrial bases for echelon utilization
and recycling in Huizhou, Jiangmen, and Ganzhou, respectively,
achieving a recycling capacity of 150,000 tons per year of retired
power batteries. At the same time, Ruicycle has also been
cooperating with Legend Capital's portfolio company Milkyway, a
leading dangerous chemicals logistics enterprise, to build a global
leading ESG recycling system.
CHEN Zhipeng, the founder of Ruicycle, said: "We are a relatively
young team. In keeping with the trend of the new energy era, we are
eager to learn more from industry predecessors to root in the
physical manufacturing industry more deeply. At the same time, we
look forward to having more aspiring youngsters join us to create
an efficient organization and together make contributions to the
globalization of new energy industrialization experience.
Legend Capital's investments in the carbon-neutral field focus on
energy decarbonization, vehicle electrification/intelligence,
synthetic biology, etc. Energy decarbonization includes
photovoltaic, wind power, 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 investment
opportunities in the new energy vehicle industry chain and has
invested in a number of automation equipment, lithium batteries,
and materials companies, many of which went public successfully,
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 Colibri Technologies (002957.SZ). At the same
time, Legend Capital is also one of the early investors of CATL
(300750.SZ).
About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor
focusing on the early-stage and growth-stage opportunities in
China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong,
and Seoul, Korea.
It currently manages USD and RMB funds of over US$10 billion in
commitments, and has invested in around 600 companies, covering
technology, healthcare, consumer, enterprise service and
intelligent manufacturing sectors. Rooted in China, Legend Capital
participated in the rise of many world-leading companies by solid
investment coverage and systematic post-investment value-add. Over
the years, Legend Capital has also become a widely recognized name
in bridging key resources in China and overseas through
cross-border activities, and a valuable partner to Chinese and
overseas investors.
Legend Capital values long-term sustainable investment and
incorporates ESG into its long-term development strategy. As a
UNPRI signatory since November 2019, Legend Capital is among the
first group of top VC/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
).
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