Cathay Biotech, CATL Capital, Coleitec join forces to launch joint venture in GUi

Cathay Biotech Inc, CATL Capital, and Hangzhou Coleitec Composites Technology Company formed a joint venture in Grand Union of Innovation (GUi), Hefei, signaling that two powerhouses will explore the new energy application together.

The cooperation epitomized GUi's edge in research commercialization, as well as providing support services to enterprises, highlighting GUi's compatibility with technological firms.

The company, Anhui Kaixian Times Composite Materials Company (安徽凯酰时代复合材料有限责任公司), with a registered capital of 150 million yuan ($20.66 million), will develop and manufacture bio-based composite materials for use in battery body cases, energy storage boxes, automotive components, and other vehicle-related applications.

Grand Union of Innovation. [Photo/GUi]

Cathay Biotech, a global leader in bio-based materials, has revolutionized the industry by replacing traditional petroleum-based products with renewable, bio-based polyamides. Such sustainable materials are already being used on Audi cars and iPhones thanks to its market advantage and environmental benefits. The company's innovative products are now for wider adoption, particularly in the growing new energy sector.

CATL, the parent company of CATL Capital, turns out nearly 40 percent of power batteries in the global market, which can support Cathay Biotech to test and refine their materials in a wide range of applications. This collaboration will drive the performance iteration of Cathay's materials, accelerating the commercialization validation of bio-based materials.

GUi has played a crucial role in bringing this joint venture to life. The team of GUiTEK platform facilitated the cooperation by providing essential support, including door-to-door assistance with administrative procedures and finding the workspace for the company. GUi has been dedicated to advancing the bio-manufacturing industry, materializing the city's support to businesses.