ATCC, a Chinese carbon fiber reinforced composites developer, received funds from several national institutions.
Advanced Technik Composite Corp. (ATCC, Chinese:安泰复材), a Chinese carbon fiber reinforced composites developer in China, completed its nearly CNY 500 million (USD 74.7 million) Series A+ financing round recently, led by Shanghai Sun Rock Capital Management, participated by Shanghai Bojiang Investment Management, Guohua Fund, Southern Industrial New Material Fund, Zhejiang Rongteng Venture Capital and other institutions, news portal 36kr.com reported.
The funds from the round will be mainly used for deepening coordination between the technology of ATCCC and industrial resources from the stakeholders, promoting the development of carbon fiber composite high-end manufacturing industry in the Yangtze River Delta.
Established in 2017, ATCC has been committed to becoming a multinational carbon fiber composite technology innovation enterprise. In 2018, the company wholly acquired the German companies COTESA GmbH (composite material supplier to Airbus & Boeing) and EC (composite material supplier to European and American super luxury car brands).
ATCC has focused on the design and manufacture of high-end carbon fiber composite structural parts and provided aviation-grade carbon fiber composite structural parts, covering aerospace, railway, new energy vehicles and other fields. It is a major certified supplier of composite materials to Airbus and Boeing. Now the company has three production bases and two R&D centers around the world.
Carbon fiber is a new type of fiber material with high strength and high modulus with more than 90% carbon content. It is known as "black gold" because of its excellent mechanical properties. It is a vital material in national defense, military industry and aerospace.
According to the industrial estimation, it is expected that the total demand of China's carbon fiber market will reach CNY 16.1 billion by 2025. Now the main international suppliers of carbon fiber are Toray (Japan),TOHO (Japan) Tobang, and Hexcel (the United States). Domestic leading companies include Jiangsu Hengshen (Chinese: 江苏恒神), Weihai Guangwei Composites (Chinese: 光威复材), and Sinofibers Technology (Chinese: 中简科技).