Apr 21 2015
Cnano Technology Limited, a world-leader in the manufacturing and commercialization of high quality multi-wall carbon nanotubes (MWCNT) products for the energy storage, structural and electronics industries, announced the completion of its $15 million Series C funding.
Cnano will use the funds to expand its high quality carbon nanotubes manufacturing operation in Zhenjiang, Jiangsu, China in order to meet the fast growing demand for its products. The Company continues to leverage and enhance upon technologies it has licensed on an exclusive basis from Tsinghua University.
GRC SinoGreen Fund, a leader in private equity and venture capital in the Greater China Region, led the financing, which included Hotung Investment Holdings Limited and several new investors. Cnano's Series A and B investors, Pangaea Ventures, Presidio Partners, WI Harper Group, IDG Capital Partners and Megatop Capitals all participated in the financing.
"Cnano's leading position in carbon nanotubes industries and its new product scaling-up capability has led Cnano to successfully penetrate the lithium-ion battery market," said Benjamin Jen, Founder and Managing Partner of GRC SinoGreen Fund. "We are delighted to lead the Series C financing to support Cnano manufacturing expansion plans for MWCNT products in the worldwide market."
"Cnano's advanced technologies and superior quality of products have powered Cnano into the leading manufacturing and supplier of MWCNT for the lithium-ion battery market," said Dr. Tao Zheng, President and CEO of Cnano. "Series C funding will accelerate Cnano's growth to increase its MWCNT capacity to meet the increasing demands for Cnano's products for the electric vehicle and high end consumer battery markets as well as other MWCNT applications."
About Cnano
Cnano is the leading manufacturer and developer of high quality multi-wall carbon nanotubes based products for lithium-ion batteries and other applications that include products for the structural and electronics markets. Cnano maintains an R&D centre in Beijing and operates state-of-the-art production lines in Zhenjiang, Jiangsu, China, supported by a world-class engineering team.
About GRC SinoGreen Fund
GRC SinoGreen Fund, established in 2005 is a leader in private equity and venture capital in the Greater China region leveraging its experiences from Silicon Valley and Wall Street in applying technology to commercialization know-how from Taiwan into the mass market potential of China. GRC SinoGreen Fund's primary focus is on the fast-growing Greentech Industry including energy efficiency, energy storage, water treatments, recycling, companies that deliver benefits to users of greater value than the conventional alternatives, while maximizing the efficient and sustainable use of energy, water and other resources.
About Hotung Investment Holdings Limited
Hotung Investment Holdings Limited and its subsidiaries ("The Group") is a premier venture capital firm with over 25 years of venture capital operations in Greater China and the U.S. The Group has been listed on the Main Board of SGX-ST since 1997. The Group's investment strategy focuses on high potential growing industries, such as consumer products, retail sectors (including online retail), photonics, precision component manufacturing, bio-technology, as well as culture creative industries in Greater China. The Group is leveraging its expertise in the venture capital business to generate strong earnings and performance.