Zhaoxi Capital Continues to Add Shanghai Lianfeng's A+ round of Fund to Help Build the World's Leading Comprehensive

Zhaoxi Capital Continues to Add Shanghai Lianfeng’s

 A+ round of Fund

to Help Build the World’s Leading Comprehensive

 Industrial Gas Company

“Shanghai Lianfeng is one of the industry leaders in argon gas recovery.” It has long-term relationships with many top solar customers. Several rare gas and unique electronic special gas projects are moving forward satisfactorily. Zhaoxi Capital has made two successive investments in Shanghai Lianfeng, and we believe it will steadily grow into the world’s leading comprehensive industrial gas company.”

—Hui Hengyu, managing partner of Zhaoxi Capital

Recently, Shanghai Lianfeng Gas Co., Ltd. (hereafter “Shanghai Lianfeng”) has completed the A+ round of funding, which was co-funded by Zhaoxi Capital, Yida Capital, and Shengshi Capital. The funds generated in this round will be used primarily for research and development of specific electronic gas projects, as well as investment in industrial gas projects,etc.

Shanghai Lianfeng focuses on the R&D, sales and gas services of industrial gases. The company has independently invented argon recovery technology,which solves the problem that photovoltaic crystal pulling enterprises rely heavily on high-purity liquid argon. The company has provided comprehensive solutions for argon recovery to the majority of solar crystal pulling enterprises in the industry, and its market share is significant. With extensive domestic project experience, the Company intends to expand its argon recovery service layout overseas to create an international gas service platform.

Meanwhile, relying on its outstanding R&D strength and brand influence, Shanghai Lianfeng has been continuously expanding into other industrial gas application scenarios outside the photovoltaic field. At present, it has signed several rare gas projects and special electronic gas projects in Sichuan, Jiangsu and other places. The products will cover bulk gases – H₂, N₂, O₂, special gases – high purity gases – Helium, Neon, Krypton, Xeon, etc., special gases – electronic special gases – Hydro-fluoric acid, NH₃, SiH₄, PH₃, NF₃, etc.

Shanghai Lianfeng has also prepared to launch hydrofluoric acid recycling services, which will significantly ease the environmental protection issues of industrial zones and photovoltaic enterprises that are “difficult to use acid” and cost pressures. These services are intended to better serve photovoltaic customers and escort the expansion and cost reduction of photovoltaic battery enterprises.

In the future, Shanghai Lianfeng will promote the development of high purity gases, electronic specialty gases and other fields, promote the growth of international business, and work to become the industry’s leading comprehensive industrial gas company by expanding its comprehensive gas chemical service business in the field of solar energy and other new energy sources.

Hui Hengyu, managing partner of Zhaoxi Capital, said: “Industrial gas belongs to the ’long slope with thick snow’ track, and the localization of equipment and operations is the general trend, which creates development opportunities for the rapid development of Shanghai Lianfeng. As one of the benchmark enterprises in argon recovery industry, it has established a good long-term cooperative relationship with many prominent photovoltaic customers, and the implementation of various rare gas and special electronic special gas projects is proceeding smoothly. Zhaoxi Capital has invested in Shanghai Lianfeng for two consecutive rounds. We believe it will continue to grow into the world’s top comprehensive industrial gas company.