Recently, Shenzhen Inx Energy Technology Co., Ltd. (referred as "Inx") closed its hundreds of millions of PreA+ round financing. This round of investment was led by GL Ventures, with the participation from Qianhai FOF, EHANG, and the existing investor Fenghe Capital. The funding will primarily be used for research and development, market expansion, and production line battery deliveries.
Founded in 2020, Inx is a high-tech company specializing in the research and production of lithium metal solid-state batteries with core patents in materials, processing, manufacturing and battery designs. The company gathers a world-class team with expertise on advanced battery technologies,plus an experienced engineering, manufacturing and sales operation team. An advanced 200MWh lithium metal solid-state battery production line, key material preparation line, and solid-state battery analysis and testing platform have been established.
Inx’s lithium metal solid-state battery differs from existing traditional lithium-ion batteries by using lithium metal instead of graphite as the negative electrode and solid-state electrolyte instead of liquid electrolyte separators. This structural change enables a significant leap in energy density while ensuring extremely high battery safety.
Dr. Lin Chen, Chairman and Head of Research & Development of Inx, stated that after over a decade experience of dedicated research and technological development, Inx’s lithium metal solid-state batteries have now achieved extraordinary safety and high energy density features that will drive the industry forward in the clean electrification transition. The investment from renowned institutions like GL Ventures and clients reflects the high recognition of our technologies, team, and product commercialization. The entire Inx team remains committed to the vision of "propelling the energy revolution and improving human life". We will strive for technological breakthroughs, product innovations, and to create value for our customers.
Leo Sun, President of Inx, said that "Our first-generation product with an energy density of 450Wh/kg based on 6Ah-50Ah cells has been recognized by customers. These products have obtained third-party certification reports and can be manufactured in mass production. Moving forward, Inx will closely collaborate with our strategic customers, leveraging the strengths of Inx’s lithium metal solid-state batteries. This collaboration aims to significantly enhance the battery life and lightweight experience of OEM products, accelerating the market penetration of high-safety, high-energy-density batteries"
The project leader from GL Ventures remarked:
"The lithium metal solid-state battery represents the ultimate development direction for lithium-ion batteries, greatly enhancing weight and volumetric energy density. It has a vast market potential in portable energy storage, drones, 3C digital, and electric vehicles. Under the leadership of Dr. Lin Chen, Inx team, with robust technical R&D capabilities and extensive industrialization experience, has successfully addressed material and processing challenges in commercializing lithium metal solid-state batteries, by establishing a production line of 200MWh. The first-generation product possesses an energy density of 450 Wh/kg and has received exciting feedbackfrom different customers. We firmly believe that Inx will continuously lead the innovation in solid-state battery technology and create value for the energy transition and electrification field."
Huazhi Hu, Founder, Chairman and CEO of EHang, commented, “As a global leader in the field of unmanned electric vertical take-off and landing (“eVTOL”) air mobility, EHang is always committed to safer, more efficient and sustainable energy solutions. The innovative lithium metal solid-state batteries developed by Inx have significant advantages over liquid batteries in terms of safety, energy density, thermal stability, cruising range, charging and discharging performance, etc., which are believed to become a key driver for the rapid development of the eVTOL field in the future. Our strategic investment in Inx aligns seamlessly with our pursuit for greener, low-carbon technologies, and is also part of EHang’s efforts to deploy and enhance our upstream battery supply chain. We expect Inx will continuously lead the innovation in solid-state battery technology and create value for the energy transition and electric aviation field.”
FengheCapital's General Manager, Borui Zhou, noted: "Solid-state batteries represent a clear evolution direction in the battery technology. Due to its electrochemical window and gram capacity advantages, the lithium metal anode is a more appealing candidate for solid-state batteries. However, the commercialization of lithium metal anodes faces huge production challenges and technological barriers. Dr. Chen, the founder of Inx, has over 10 years of R&D experience in solid-state batteries with a deep technical strength in the solid-solid contact interface field. Fenghe Capital had already invested in the company during its angel round. Over the past year, we've accompanied the company through team formation, product development, production line construction, and customer expansion. We've witnessed the rapid growth of the company, deepening our understanding of the core team's keen strategic vision and strong executive capability. As a result, we increased our investment in this round. The company's first-generation product has an energy density of 450Wh/kg, which has been widely recognized by customers. Furthermore, a production line with a capacity of 200MWh has been built. We firmly believe that, with Dr. Chen and his team's efforts, Inx will lead the technological innovation in solid-state batteries and drive the industry's development. Fenghe Capital will continue to fulfill its corporate mission of "helping entrepreneurs achieve their industrial dreams and assist in global carbon neutrality", becoming a faithful ally of Inx in both industry and capital."
