Recently, lithium-ion power battery anode supplier TIES completed a new round of financing, which was invested by Xiaomi-Yangtze Fund and increased its registered capital by more than CNY 100 million.
On October 28, a Jiangsu-based lithium-ion power battery provider Tianmu Lake Advanced Energy Storage Technology Research Institute(hereinafter referred to as 'TIES') (Chinese: 天目先导) is reported to have completed its new round of financing which was invested by a cohort of investors including Xiaomi-Yangtze Fund (Chinese: 湖北长江小米产业基金). After this financing round, the company’s registered capital increased by CNY 160 million (USD 22.4 million), from CNY 509 million to CNY 669 million, up 31.38%. In addition, the investor Xiaomi-Yangtze Fund was co-founded by the well-known Chinese smartphone maker Xiaomi (Chinese: 小米) and Yangtze Fund (Chinese: 长江产业基金).
TIES, founded in 2017 and based in Jiangsu, is a lithium-ion battery provider focusing on product R&D and sales of new silicon anode materials for lithium-ion batteries. The company has set up a technical development team from the Chinese Academy of Sciences Physics, including fellow Chen Liquan and Researcher Li Hong. Currently, TIES can implement massive production with an annual capacity of 8000 tons, and its products have been applied in NEV, large-scale energy storage, unmanned aerial vehicles and consumer electronics.
In the future, TIES will increase investment in technology research and maintain competitiveness worldwide.