Hangzhou Puli Material Technology

About Hangzhou Puli Material Technology

Hangzhou Puli Material Technology Co., Ltd. is a specialty chemicals company focused on developing and manufacturing new materials derived from carbon dioxide. The firm's core business involves the research and development of CO2-based catalysis to produce high-performance, carbon-neutral polyurethane products. This process positions the company as a key player in the effort to reduce carbon dioxide emissions and mitigate the global greenhouse effect by transforming captured CO2 into valuable industrial materials.

The company's primary product is CO2-based polycarbonate polyol, a critical component in the production of polyurethane. This material serves as a sustainable alternative to traditional, petroleum-based polyols, offering a comparable or superior quality for various applications. Puli Material Technology serves a diverse client base across sectors such as plastics, automotive, home appliances, and food packaging. Its business model is centered on the large-scale industrial production and sale of these specialized chemical products.

A significant milestone for the company was the launch of its 300,000-ton annual CO2-based polycarbonate polyol project, representing the world's largest facility of its kind. The first phase, with a capacity of 50,000 tons per year, began construction in February 2023 and completed trial operations by January 2025. This phase alone is projected to generate 1.5 billion yuan in annual sales revenue. Upon reaching full capacity, the entire project is expected to utilize approximately 180,000 tons of CO2 annually and generate around 7.5 billion yuan in sales. This initiative was recognized by the Chinese government, being included in the first batch of "Green and Low-Carbon Advanced Technology Demonstration Projects" in March 2024 and receiving a 50 million yuan subsidy from the National Development and Reform Commission in August 2024.

Founded in 2017, the company has secured venture capital backing to fuel its expansion. It has received investments from firms including Jinlong Group, Anhui Zhongan Capital, and Hefei Industry Investment Group, raising $31.7M to date through multiple funding rounds, including a Series B1 in April 2024. The company operates from its headquarters in Hefei, Anhui, China.