Chinese battery raw materials developer JOMO Technology secures angle round

Shanghai (Gasgoo)- Chinese battery raw materials developer JOMO Technology disclosed the recent successful acquisition of angel round financing led by a renowned investment firm, with additional backing from a wholly-owned subsidiary of the government of Changsha city's Xiangjiang New Area, according to the company's press release.

This financing round is anticipated to catalyze JOMO Technology's transformation of cutting-edge innovations from China's Central South University's laboratory into core materials for the globally leading third-generation lithium iron phosphate (LFP) and fourth-generation lithium manganese iron phosphate (LMFP) batteries.

Photo credit: JOMO Technology

Notably, Hunan JOMO Technology Co., Ltd., founded in August 2023 in Changsha's Xiangjiang New Area, boasts core founders with Ph.D. qualifications from overseas universities. These founders have led postdoctoral advanced R&D in the design and synthesis of novel energy materials at institutions such as the University of Cambridge in the UK, Yeungnam University in South Korea, and Central South University. 

The company's primary business involves the development of a globally leading new type of lithium iron phosphate cathode materials precursor. This precursor supplies core critical materials required for the next generation of low-cost, high-performance lithium iron phosphate and lithium manganese iron phosphate, significantly alleviating the market's heavy dependence on lithium carbonate. Additionally, the company has successfully industrialized the efficient recovery and extraction of high-purity lithium sulfate solution from lithium-containing waste materials, such as ore and aluminum plant residues. This process enables the production of battery-grade lithium phosphate, lithium dihydrogen phosphate, lithium carbonate, high-purity lithium carbonate, lithium hydroxide, and other key and alternative materials for lithium-ion batteries. These downstream products find extensive applications in new energy vehicles, power storage, and communication backup power storage systems.

According to one of the company's founders, JOMO Technology is committed to becoming a high-quality supplier of core materials for large-scale, high-performance lithium iron power and energy storage battery cathode materials globally. Its core strategic goal is centered around innovative technology, industrial implementation, and rapid capitalization, with the aim of establishing itself as a technological leader, possessing core competitiveness, and leading in profitability within the lithium salt new energy industry.