Talent New Energy, a promising startup specializing in solid-state battery technology, has successfully concluded a new funding round aimed at supporting the development of their cutting-edge battery solutions. In an official press release issued today, Talent revealed that they secured several hundred million yuan in Pre-B round financing, with prominent participation from a CICC fund and Zhengqi Holding. Additional investments were made by Legend Capital Management and Jilian Investment.
The newly acquired funds will be utilized to expand Talent’s manufacturing capabilities by establishing new factories. Furthermore, they will continue to advance their technology reserve program, focus on talent recruitment efforts, and enhance product output, according to Talent’s statement.
Founded in 2018, Talent New Energy is dedicated to pioneering solid-state lithium battery and new material technologies. In March 2022, they received a substantial investment from Country Garden, a prominent Chinese real estate developer.
Among the three primary technology paths for solid-state batteries, Talent has chosen to focus on the oxide route. Leveraging this approach, they have successfully developed solid-state electrolytes and solid-state lithium batteries. Additionally, the company has completed the technology reserve for a range of materials, including semi-solid and solid-state batteries.
Talent’s initial-generation semi-solid-state batteries boast an impressive energy density of up to 400 Wh/kg, with the liquid electrolyte content ranging from 5% to 10%. Meanwhile, their second-generation quasi-solid-state batteries achieve even greater energy densities, between 400 Wh/kg and 500 Wh/kg, while reducing the liquid electrolyte content to less than 5%. Mass production of these second-generation batteries is projected to commence by the end of 2023.
Looking ahead, Talent is actively pursuing the development of a commercialization strategy for their third-generation all-solid-state battery, which will eliminate the need for liquid electrolytes.
Notably, Talent’s manufacturing base in Chongqing, the first production line in China capable of mass-producing semi-solid lithium batteries, has already been operational since 2022. The company has successfully delivered products to customers from this facility. Although the press release does not disclose the production line’s current capacity, it was revealed in March of the previous year that a 0.2 GWh automated production line for lithium solid-state batteries was under construction in Chongqing’s Liangjiang New District, scheduled to begin production in September 2022.
Furthermore, Talent’s phase II plant in Chongqing, designed to have an annual capacity of 2 GWh, is on track to be completed by the end of 2023. Simultaneously, an industrial park project with an annual capacity of 10 GWh is underway in Huainan, Anhui province, according to the press release.
Talent has engaged in joint testing of their semi-solid-state batteries with multiple automakers, and ongoing discussions for further collaboration are taking place.
Lastly, Talent has recently inked an agreement with a leading Chinese two-wheeled electric vehicle company, ranking among the top three in terms of sales. This partnership designates Talent as the preferred supplier of power batteries for the two-wheeler manufacturer. The press release did not disclose the name of the specific company involved in the agreement.
