Qingtao Development completes F round of financing

Recently, Qingtao (Kunshan) Energy Development (Qingtao Development) completed the F round of financing led by the Shanghai Science and Technology Innovation Fund, with participation of Xinding Capital, Kunshan Kersen Science, FreeS Fund, Shanghai Bofu Investment and other institutions.

In the past year, Qingtao has achieved multipole upgrades in production capacity, capital, and markets, reformed its shareholding, and started a new stage of comprehensive development.

This round of financing brought its valuation to more than ten billions yuan. Qingtao will build a diverse ecosystem combining technology, team, and partners to further strengthen the company’s competitive advantage.

Qingtao Development is a high-tech enterprise led by the scientist Nan Cewen’s team from Tsinghua University, and becomes a leader in the industrialization of solid-state lithium batteries in China.

The company took the lead in realizing the industrialization of solid-state lithium batteries, built the first domestic production line of its kind and a complete independent intellectual property system.

The solid-state lithium battery launched by Qingtao fundamentally solves the safety problem of lithium batteries. It has the advantages of high energy density, high temperature resistance, long life, and flexibility. It has been successfully applied in special power supplies, high-end digital and other fields.

It is also taking the lead in the field of new energy vehicles.

The Shanghai Science and Technology Innovation Fund is a market-based fund of funds initiated and established in 2017 by the Shanghai International Group, with cornerstone investors including Shanghai Guosheng Group, Shanghai International Port Group (SIPG), Shanghai Trust, Guotai Junan, and Shanghai Zhangjiang High-tech Development.

The Shanghai Science and Technology Innovation Fund has the mission of serving the construction of the Shanghai Science and Innovation Center, with a target scale of 30 billion yuan and the first phase of 6.52 billion yuan.

Up to now, the Shanghai Science and Technology Innovation Fund has invested in more than 40 funds and the total contract size of the sub-funds has exceeded 70 billion yuan, and has penetrated more than 700 projects.

There are 18 listed companies, including 12 on the Science and Technology Innovation Board. About 100 invested companies that have been listed and made debuts in the capital market before the end of 2021.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2021/02/27/qingtao-development-completes-f-round-of-financing/.

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