Battery Recycling Company Jcnico Nets more than 100 Mn in Series B

Industrials, Technology Author: Yunfeng Zhang Mar 18, 2023 01:33 PM (GMT+8)

With the explosion of the new energy vehicle market, the lithium battery industry has experienced unprecedented expansion. At the same time, the disposal of a large number of used lithium batteries has become imminent.

Battery Recycling

Jcnico(Chinese:杰成新能源) was established in 2012 and focuses on the research and development, recycling, storage, processing and sale of retired power batteries for new energy vehicles and lithium battery related waste materials. It is reported that the company recently completed a Series B financing of several hundred million RMB. This round of financing was jointly led by Shenzhen Capital Group(Chinese:深创投) and Alibaba, followed by Homwon Capital(Chinese:弘湾资本), Chifortune Capital(Chinese:紫峰资本), Xinhui Xinke(Chinese:新会新科), Pingling Group(Chinese:平陵集团) and He Rong Capital(Chinese:和荣资本), and followed by Longgang Capital(Chinese:龙岗金控), an old shareholder, in excess. Leap Capital(Chinese:跃为资本) acted as the exclusive financial advisor for this round of financing. Proceeds from this round will be used to expand the battery recycling channel, develop application scenarios, technology development and capacity expansion.

China is the world's largest manufacturer of new energy vehicles, but lithium reserves account for only 6% of the world's total, 50% of lithium resources are import dependent, and there is a huge gap between supply and demand. As the market penetration of new energy vehicles continues to grow, the amount of end-of-life lithium batteries will increase rapidly, and the secondary use of end-of-life batteries and resource recycling is expected to become the next trillion-dollar new market.

In recent years, Jcnico has been extensively involved in the battery recycling industry and has established the entire industry chain around battery recycling procurement, storage and transfer, secondary utilization, dismantling and regeneration, and metallurgical refining. In terms of secondary utilization, Jcnico has built a digital recycling channel to extend the life cycle of batteries through leading technology methods, so that retired batteries can be effectively used in other fields and scenarios to achieve maximum value; in terms of resource recycling, Jebsen will use green and efficient crushing and dismantling production lines to realize the industrial cycle from retired batteries to battery recycling materials.

In the past two years, as the new energy market exploded, Jcnico also began to carry out larger capacity expansion . At present, with the headquarters in Shenzhen as the center, Jcnico has established industrial bases in the Greater Bay Area and Yangtze River Delta, and is stuck in the new energy core locations of Shenzhen, Huizhou, Jiangmen and Changzhou, and is also planning to build several production bases in other parts of the country. It is reported that by the end of last year, Jcnico's completed production capacity reached 340,000 tons.

It is worth mentioning that in the second half of this year, Jcnico's overseas business will also be gradually landed. The overseas business mainly adopts two modes, one is the technology goes abroad; the other is the business and production capacity goes abroad, concentrating resources overseas, building production capacity, and then forming relevant products and importing them back to China.

Jcnico's competitors include Huayou (Chinese:华友循环),GanfengLithium (Chinese:赣锋循环) and Brunp Recycling(Chinese:邦普循环).