Heguang New Energy, a square silicon core manufacturing high-tech enterprise, announced that it completed a B round financing of hundreds of millions of RMB. The funds raised will be primarily used for expansion of enterprise production capacity, continuous R&D of products and market expansion.
Recently, Heguang New Energy Co., Ltd. (Chinese: 和光新能源, hereinafter referred to as Heguang New Energy) announced it completed a B-round financing of hundreds of millions of RMB, an investment led by Yida Capital (Chinese: 毅达资本) and co-invested by Tianqi Investment (Chinese: 天启投资). The funds raised will be primarily used for expansion of enterprise production capacity, continuous R&D of products and market expansion.
Heguang New Energy is the largest manufacturer of square silicon cores for polysilicon in China, and has signed long-term and stable purchase agreements with multiple major polysilicon producers.
Yuan Yaguang, partner of Yida Capital, said that in recent years, the rapid development of the industry has been driven by technological innovation around cost reduction and efficiency improvement in the PV industry. In the silicon preparation process, the modified Siemens process is the mainstream technology route for the production of polysilicon in the industry, and square silicon core is an essential auxiliary material for this route. Heguang New Energy was the first company in the industry to use shredded material in batch recycling to draw square silicon cores, which is in the leading position in the industry in terms of technical strength and team capability, and has been widely recognized by the industry's leading customers. We are looking forward to the development of dual-carbon energy with the help of capital.