Automotive Author：Mu Li Editor：Ziying Wu Oct 19, 2022 11:30 AM (GMT+8)

Hithium, a Xiamen-based lithium battery manufacturer, raised more than CNY 2 billion from its B-round financing, which is expected to be used in advanced equipment procurement, capacity building, market expansion and technology R&D.

lithium battery

Recently, the Xiamen-based lithium battery manufacturer Xiamen Hithium Energy Storage Technology Co., Ltd (hereinafter referred to as Hithium) (Chinese: 海辰储能) completed its B round financing of over CNY 2 billion (USD 278 million), which was jointly invested by Agricultural Bank of China International (Chinese: 农银国际) and China Construction Bank Principle Investment Management Co. (Chinese: 建信股权). Other financial agencies including Matrix Partners (Chinese: 经纬创投), Chengtun Mining Group (Chinese: 盛屯集团) and Frees Fund (Chinese: 峰和资本) were also involved in this investment.

The fund will be mainly used for advanced equipment procurement, capacity building, market expansion and technology R&D.

Hithium, founded in 2019, is a high-tech enterprise which specializes in the R&D, production and sales of lithium-ion battery core materials, LFP energy storage batteries and systems. Hithium is committed to providing safe, efficient, clean and sustainable green energy solutions for the world.

In August, Hithium launched many innovative products which were expected to be delivered globally in the first quarter of 2023. These include the very first 300Ah prismatic cell having a cycle life of 12,000cls and a cylindrical cell product specially designed for households.

Hithium's factory of its Xiamen lithium-ion battery project phase 1 has been in full production with an annual production capacity of 15 GWh. Phase 2 has been initiated in June and is expected to be fully established by 2023 and put into use in the first quarter of next year, with an annual production capacity of 30 GWh. Hithium is scheduled to reach an annual production capacity of 100 GWh in 2024 and 135 GWh in 2025.

In terms of connections, Hithium has reached strategic cooperations with many top-tier domestic power companies and system integrators. According to statistics, more than half of the enterprises in 2021 wind power/photovoltaic/integration industry top 10 have established partnerships with Hithium.