Shenzhen Youwei Technology Holdings Group Co., Ltd (“Youwei technology company”) is an enterprise of original technology for environmental protection coating new material and coating integration solution. Youwei technology company has recently raised 150 Million RMB (around 23 million US dollars) investment fund from CICC Capital.
Coatings and coating industry is currently in a historical opportunity period of rapid transformation and upgrading. The fundamental solution of the long-term challenges in environmental protection, energy conservation and emission reduction and healthy and friendly living environment depend a lot on the raw materials used, especially coatings and adhesives. It requires coatings and adhesives to avoid using raw materials which emits high amount of hazardous substances and formaldehyde.
Youwei technology company has been leading internationally to successfully industrialize the integrated technology of "395 nm water-based led UV curing environmental protection coating and automatic coating", achieving VOCs zero emission and cost reduction. It proposed a replicable universal alternative solution for traditional large-scale solvent based coatings. It is an independent intellectual property right developed by the company from “0” to “1” and is ahead of peer competitors in many western countries.
Doctor Wang Zhigang who is also the founder and chairman of Youwei technology company says that it is a long-term unsatisfied rigid demand and technical dream to realize zero emission of environmental protection and low-cost delivery in the process of industrial coating manufacturing, and realize healthy and friendly taste and green decoration maintenance in the personalized home environment of consumers. We are very happy to share our vision and ambition with CICC, and will use this round of financing to boost the rapid and large-scale development of our business.
Shan Junbao, President of CICC capital, said that the transformation of traditional industries to environmental protection and sustainable development is a major national strategic demand of great practical significance, and the essence of the underlying supporting technology logic is the original innovation of science and technology. Youwei technology company has developed 395 nm waterborne LED light curing coatings for the first time in the industry. Based on the original technology, it has carried out a lot of business model and industrial practice exploration, and built a common technology platform linking the B and C end market demand at the same time. The practical results have been introduced into many key application scenarios, such as rail transit, furniture intelligent manufacturing, and home DIY renovation.