Cathode Firm RT Lithium Battery Bags of Advanced Materials Round-D Financing

RT Advanced Materials, a developer of cathode materials for lithium batteries, recently closed a round D financing, raising more than 5 billion yuan ($739.5 million). The main investors are well-known industrial capital institutions, several large domestic automobile groups, automobile manufacturing startups, battery manufacturers and domestic industrial funds. SDIC Unity Capital continued to invest in this funding round.

RT Advanced Materials, established in October 2016, is a high-tech enterprise focused on the R&D, production, recycling, sales and service of lithium battery cathode materials, as well as iron phosphate cathode materials independently developed lithium batteries. Its products are widely used in new energy vehicles, electrical systems, 5G communication systems and consumer electronics products.

RT Advanced Materials has successfully built a production line with an annual output of 100,000 tons of lithium iron phosphate cathode materials. At present, it is extending the production line of more than 300,000 tons of lithium iron phosphate and recycling materials. The company’s operating profit this year is estimated to exceed 10 billion yuan ($1.48 billion). This round of financing will be used to increase its production capacity.

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In the context of China’s official carbon peak and carbon neutrality goals, the development of new energy vehicles and electrochemical energy storage have become effective means of decarburization. Among them, lithium iron phosphate batteries are one of the mature schemes at present. According to data from the Starting Point Research Institute, in the first quarter of 2022, domestic shipments of lithium iron phosphate materials were 170,500 tons, up 268% year-over-year. According to Guotai Junan Securities’ research report, in the first quarter of 2022, RT Advanced Materials ranked third in the lithium iron phosphate market, accounting for 11.1% market share.

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