Canmax Subsidiary Completes Series A Financing, Has Invested Over 1.1 Billion Yuan to Build Solid-State Cathode Material Project

Qichacha shows that recently, Jiangsu Yili Technology Co., Ltd. (referred to as Yili Technology) completed Series A financing, with investors including Zhejiang Chuangwei Emerging Industry Venture Capital Partnership (Limited Partnership), Yixing Huankeyuan Industrial Development Equity Investment Partnership (Limited Partnership), and Yuanhang Precision (920914).

Meanwhile, Yili Technology's registered capital increased from 5.3001 million yuan to 7.2082 million yuan, an increase of approximately 36%.

Information shows that Yili Technology was established in 2022 and is a subsidiary controlled by Canmax (300390). The company's core technical team relies on the scientific research capabilities of the Institute of Physics, Chinese Academy of Sciences, and the Tianmuhu Advanced Energy Storage Technology Research Institute, focusing on the R&D and industrialisation of solid-state battery cathode materials.

In January of this year, the ceremony for the launch of the construction of Yili Technology's solid-state battery cathode material mass production line and the inauguration of the R&D building of Canmax (Yixing) New Materials Industrial Park was held in Yixing, Jiangsu. Yili Technology plans to invest a total of 1.12 billion yuan in the Canmax (Yixing) New Materials Industrial Park to build a 19,000 m² modern production workshop and establish an automated and intelligent full-process production line for high-nickel ternary cathode materials for solid-state batteries, with an annual capacity of 5,200 mt.

Currently, Yili Technology's 200 mt/year pilot line has been completed and has entered trial operation, providing process verification and technical support for subsequent large-scale mass production. The mass production line is expected to be completed and put into operation by the end of 2026.