Keneng New Engergy nets hundreds of millions of yuan in Series A round

Keneng New Energy announced that it has completed hundreds of millions of yuan in Series A financing round, led by Zhongjin Huirong with strategic investment from Chilwee Group.
In the meantime, the company will be headquartered in Anyang, Henan Province. Proceeds from this round of financing will be mainly used for product mass production and market expansion.

Keneng New Energy announced that it has completed hundreds of millions of yuan in Series A financing round, led by Zhongjin Huirong with strategic investment from Chilwee Group.

In the meantime, the company will be headquartered in Anyang, Henan Province. Proceeds from this round of financing will be mainly used for product mass production and market expansion.

Keneng New Energy is a light-power lithium battery manufacturer, and its core product is a new type of lithium manganate ion soft pack battery. The company claims that its products have the characteristics of high safety, high performance, low cost, strong power, and long life, and can pass the general domestic and foreign safety test standards of “steel needle acupuncture test” under full power.

The products are mainly for application in the market of light electric vehicle.

The total investment of Keneng New Energy and Anyang Municipal Government of Henan Province will be 10 billion yuan, which will be carried out in three phases. After the production capacity reaches the standard, the annual output value will reach 40 billion yuan.

After completing this round of financing, its first phase of 1GWh capacity will be advanced. At present, there are already a number of top-tier electric bicycle companies and the sharing economy Internet giants who have negotiated orders and cooperation with the company. After the production capacity is released, lithium ion batteries will be shipped in batches.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/12/keneng-new-engergy-nets-hundreds-of-millions-of-yuan-in-series-a-round/.

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