Ruicycle

About Ruicycle

Shenzhen Hengchuang Ruineng Environmental Protection Technology Co., Ltd., operating as Ruicycle, is a key player in the comprehensive recycling and utilization of retired power batteries in China. The company was established in 2017 by founder Chen Zhipeng, who holds a bachelor's degree from Sun Yat-sen University and a master's from a University of California management school. His academic background and focus on the low-carbon sector informed the company's direction, recognizing the future demand for battery recycling driven by the growth of new energy vehicles (NEVs). Ruicycle has secured significant capital, raising a total of $58.8M over two funding rounds in 2022, including a Series B round that brought in over CNY 400 million from investors like Legend Capital, Hidden Hill Capital, and GF Capital Management.

The company's business model is centered on creating a closed-loop industrial ecosystem for lithium batteries, addressing the end of the new energy industry's value chain. Ruicycle provides solutions for the comprehensive recovery of lithium batteries, which includes two main streams: echelon (or cascade) utilization and material regeneration. Echelon utilization involves repurposing retired batteries that still have sufficient capacity for less demanding applications, such as energy storage systems. For batteries that cannot be repurposed, Ruicycle employs advanced processes for material regeneration, breaking down batteries to recover valuable metals like lithium, cobalt, and nickel for use in new battery production. The company's revenue exceeded RMB 1 billion in 2021.

Ruicycle has developed proprietary technologies for large-scale, automated, and safe battery crushing and treatment. A key operational capability is its ability to perform带电破碎 (dàidiàn pòsuì), or breaking down batteries while they still hold a charge. The company utilizes a combination of dry and hydrometallurgical methods for recycling. Its processes are designed for high efficiency and minimal environmental impact, featuring pollution-free handling and regeneration of battery cells. The firm was an early adopter of intelligent temperature-sensing cameras for managing retired battery storage, enhancing safety. In 2020, Ruicycle became a fully licensed enterprise in the lithium battery recycling industry after being granted qualifications for both echelon utilization and recycling by Chinese authorities. The company operates industrial bases in Huizhou, Jiangmen, and Ganzhou, with a reported recycling capacity of 150,000 tons per year.