Qihong Technology Secures Tens of Millions CNY in Series A Funding from CAS Innovation Capital to Accelerate Nanocellulose Industrialization

Tech-Driven Innovation, Capital Empowerment

May 16 Qihong Technology officially announced the completion of a Series A funding round totaling tens of millions of CNY (approximately several million USD). This investment, led by CAS Innovation Capital, will primarily fuel the expansion of nanocellulose production facilities, R&D for high-end applications, and global market development.

The successful funding round signifies strong market confidence in Qihong’s strategy to "reshape industries through nanocellulose technology." With this capital infusion, Qihong will accelerate the large-scale adoption of this core material—aligned with China’s dual-carbon goals—across trillion-yuan markets including new energy, high-oxygen-barrier food packaging, cosmetics, pharmaceuticals, and papermaking.

A Decade of Dedication: Redefining Industry Standards

As a pioneering force in green advanced materials, Qihong Technology has focused exclusively on nanocellulose R&D and industrialization since its founding in 2016. Leveraging a PhD-led research team and over a decade of technical expertise, the company has overcome industry-wide challenges of "high cost and low yield" to achieve 10,000-ton annual production capacity—a leap from lab-scale to commercial-scale manufacturing.

Today, Qihong’s breakthroughs span coating materials for lithium-ion battery separators, high-barrier food packaging, cosmetics, pharmaceuticals, and paper enhancement. By supplying high-performance materials to top-tier lithium battery manufacturers and other global leaders, the company empowers industries to build secure, sustainable supply chains while driving the nanocellulose revolution.

Leading Capacity: Building a Global Benchmark Production Line

Qihong now operates China’s first 10,000-ton nanocellulose production line, integrating raw material processing, modification, and application development.

Post-funding, the company will break ground on a 100,000-ton production base in Eastern China, positioning the country among global leaders in green material manufacturing. In partnership with CAS Innovation Capital, Qihong will advance industrial ecology through intelligent, sustainable production.

"We deeply appreciate CAS Innovation Capital’s trust," said a Qihong spokesperson. "As a venture firm focused on new energy vehicle ecosystems, their support will accelerate our partnerships with top battery enterprises and global expansion—building a sustainable 'Nanocellulose+' ecosystem together."

About CAS Innovation Capital

CAS Innovation Capital is an early-stage venture capital firm focused on the new energy vehicle (NEV) supply chain. Guided by the mission to "empower innovation for a greener future," the firm invests in early-stage, deep-tech companies with long-term growth potential—emphasizing comprehensive evaluation, strategic empowerment, and patient capital.

Its investment logic combines industrial resource integration with venture funding to address gaps in capital and expertise for tech startups. The firm manages funds including sub-funds of the National Transformation Fund for Scientific and Technological Achievements, NDRC Emerging Industries Guidance Fund, and Anhui Province NEV and Intelligent Connected Vehicle Industry Fund.

Portfolio companies include high-growth innovators in advanced materials, core technology, high-end equipment, and AI—many of which have been designated as national or provincial "Specialized, Refined, and Unique" enterprises.