EqualOcean has learned that Future Carbon(Chinese: 福碳科技), a developer and producer of isostatic graphite material, has completed CNY 100 million Series B financing.
Future Carbon focuses on the R&D and production of isostatic graphite material. After more than 10 years of R&D and pilot testing, Future Carbon has the R&D and production capacity of semiconductor-grade isostatic graphite material.
isostatic graphite material is a new type of graphite material, which is one of the best graphite materials and one of the high-tech materials controlled by Europe, America, and Japan. It is widely used in a series of medium and high-end industries such as photovoltaic, semiconductor, lithium battery, hydrogen energy, aerospace, military industry, etc., and significantly determines the quality of related products.
Public data show that in 2023 China's isostatic graphite material market size up to 20 billion yuan. Among them, the downstream photovoltaic market demand for isostatic graphite material amounted to CNY 10 billion, and the semiconductor market demand for the size of the material CNY 3.5 billion. Benefiting from the rapid development of the downstream markets of photovoltaic and semiconductors, Future Carbon has maintained rapid growth since its establishment.
Among the two markets, semiconductor-grade isostatic graphite material has the highest technical difficulty and the most expensive price, and it is also the key product that foreign giants are restricting China. There are very few foreign manufacturers of semiconductors and other high-end applications. At present, China relies on imports for 95% of its semiconductor-grade isostatic graphite material, and there has not yet been a domestic giant company manufacturing semiconductor-grade graphite material.
Ji Bin, Deputy General Manager of Future Carbon, said that compared with ordinary photovoltaic-grade isostatic graphite material, semiconductor-grade isostatic graphite material, with complex formulations, long manufacturing cycle, long process flow, the full set of procedures have more than 300 process control points, research and development and manufacturing is extremely difficult. Fortune Carbon is one of the very few domestic enterprises with semiconductor-grade isostatic graphite material-related technology and industrialization capabilities, and the product parameters have been comparable to foreign competitors.
"At present, Fook Carbon has already carried out small-scale supply for a number of domestic head semiconductor enterprises, and the future goal is to become the main supplier of the head semiconductor manufacturers." Ji Bin said.
The round was led by Shenzhen Capital Group (Chinese: 深创投), followed by Lihe Capital (Chinese: 力合资本), Qishen Capital (Chinese: 七晟资本), and Dongda Capital (Chinese: 东大资本). The proceeds from the financing will be used to expand the production capacity of the Sichuan base and continue product development.