Hard Krypton has learned that Na Yuan New Materials Technology (Wuxi) Co., Ltd. (hereinafter referred to as "Na Yuan New Materials"), a positive electrode material company for sodium ion batteries, has recently completed tens of millions of yuan in financing. We have summarized the information of this round of financing and several highlights of the company:
01. Financing amount and leading investment institution
Financing rounds:Pre-A round financing
amount of money:Millions of RMB
Investment institution:Guoxin Venture Capital and Zilue Capital
Purpose of Funds:Mainly used for capacity expansion of 10000 ton production lines, research and development investment in non negative sodium batteries, as well as expansion and market development of production, sales, supply chain and other teams
02. Basic information of the company
Established Date:2022 Company Headquarters: Xinwu District, Wuxi City, Jiangsu Province
Core products:Modified Polyanionic Sodium Iron Sulfate (NFS) Positive Electrode Material System Material (Main Material+Special Additives)
Technical highlights:One is the original "soft hard combination" system: The company is currently the only enterprise that can provide NFS core "hard" additives on a large scale. Its core expertise focuses on the design optimization and performance breakthrough of sodium iron sulfate (NFS) positive electrode materials. Through the collaboration of main materials and additives, the company has created the "skeleton building" additive technology, successfully overcoming key technical bottlenecks in the NFS material industry such as low compaction density, fast high-temperature cycling decay, and gas production bulging, achieving a doubling of material performance.
The second is easy to recycle and high-voltage platform: NFS materials have water-soluble and easy to recycle characteristics, which can form a low-cost closed-loop cycle; Its 3.6V high voltage platform provides a higher energy density upper limit for the next generation of non negative/solid-state sodium batteries (theoretically up to 200 Wh/kg for non negative sodium batteries and 250-320 Wh/kg for solid-state/semi-solid sodium batteries).
Product application:Mainly targeting the light power (two/three wheeled), UPS power supply, start stop power supply and other markets, and laying out scenarios for aircraft, robots, energy storage, large power, and AIDC (artificial intelligence data center) backup power. The next generation of non negative electrode battery technology aims to enter and disrupt the mid to low nickel ternary and lithium iron phosphate markets.
Sodium iron sulfate system materials and solid electrolyte materials
The sodium electricity industry is entering the early stage of large-scale production in terms of market size. According to industry data provided by the company, by 2030, the market size of the polyanion route in sodium battery cathode materials alone is expected to grow from 2000 tons in 2023-2024 to 2 million tons, corresponding to a market increment of 40 billion yuan; The entire sodium battery market is expected to grow from 4GWh to 1TWh, with a market space of 500 billion yuan. The company's performance and revenue growth of Na Yuan New Materials are rapid. The company has renovated and built a 5000 ton NFS production line in Jiangxi, and is planning a first phase 10000 ton production line in Lu'an, Anhui. It is expected to form a 10000 ton supply capacity next year to respond to customers' demand for thousands of tons. At present, we have sent samples for testing to over a hundred customers and signed orders worth thousands of tons.
Sodium Yuan New Materials Engineering Technology Center
The company was founded by a doctoral team with a strong background in German industry and research, combining the rigorous spirit of German industry with China's efficient execution. Liu Zhongqing, the founder and CEO of Na Yuan New Materials, holds a German doctoral degree and worked as a postdoctoral researcher at the Lixi Research Center (led by Martin Winter, a member of the German Academy of Engineering). Later, he worked in product development at Schott Group in Germany and energy research at Oxford University, combining academic background and industrial practical experience.
03. Founder's Reflection
Hard Krypton:Why choose the Sodium Iron Sulfate (NFS) route?
Liu Zhongqing:This material is made from chemical byproducts, namely ferrous sulfate and sodium sulfate. Its cost is very low. The BOM cost of the entire material is within 10000 yuan. Using this material to make batteries, the current energy density can reach 120 watt hours per kilogram, and the next generation of non negative electrode batteries can reach 200 watt hours per kilogram. This material has many advantages except for its high development difficulty. Hard Krypton: How to understand the explosive logic of sodium electricity in the light power market? Liu Zhongqing: Currently, 95% of the light power market is still lead-acid, which is the pure blue ocean of sodium electricity. Once the technology matures and the product is launched, it is like obtaining a new weapon, directly forming a dimensionality reduction strike. So now the competition in the industry is about who can scale up first and import terminals first - essentially a race to conquer territory.
Hard Krypton:What are the focus of the company's next research and development and market layout?
Liu Zhongqing:We will definitely continue to invest in the development of polyanion material systems in our research and development direction, maintaining our leading position. Another key focus is the non negative electrode battery system, which we have identified as a key direction for future efforts. In terms of the market, in addition to domestic light power, we are also proactively expanding overseas. The European market is very green, and lead is already banned. At the same time, they also have concerns about lithium batteries, and sodium batteries are a good choice. We have currently made some terminal layouts and optimizations in Southeast Asia and Europe.
Investor Opinion: Guoxin Venture Capital stated:Guoxin Venture Capital has always focused on new material enterprises with core technology and scale capabilities. Sodium Yuan New Materials has established a complete technical loop from research and development, production line equipment design to full battery cell design in the field of layered oxide and polyanion positive electrode materials. Its Wuxi Engineering Technology Center is equipped with a 100 ton pilot line that has achieved integrated continuous production, and its process stability has been verified by downstream customers. This round of financing support for the construction of a 10000 ton production line in Lu'an will help enterprises seize the opportunity for scale before the outbreak of the sodium power industry in 2026, and will form a supply capacity with an annual sales volume of one billion yuan. What we value more is that the independent production line design and transformation capabilities of Na Yuan New Materials can help build a supply chain system that does not rely on external equipment, which has strategic significance for ensuring supply chain security in the current industrial environment
Strategic capital represents:Zilue Capital continues to track disruptive innovations in the field of new energy. The 'no negative electrode sodium battery' technology direction laid out by Na Yuan New Materials is highly compatible with the patent layout of industry leaders such as CATL in the next generation of sodium batteries, representing the core path of cost reduction and efficiency improvement in the future. The company has currently developed three types of positive electrode materials: energy storage, power, and capacity, which are compatible with sodium battery no negative electrode technology. The single energy density can reach over 200Wh/kg, and has connected with more than 30 downstream customers. Multiple production demand agreements of over 1000 tons have been signed. This funding will accelerate the industrialization of Na Yuan New Materials' positive electrode materials and the commercialization breakthrough of Na Electric's negative electrode free technology, helping enterprises establish customer barriers in the energy storage and low-speed power markets during the critical window period when the cost of Na Electric is reduced to 0.3 yuan/Wh. We believe that only enterprises with both material innovation and engineering capabilities can stand out in the long-term track of sodium lithium substitution
Article source: Hard Krypton
Author | Ou Xue
Editor | Yuan Silai
