Zhiqing Bocai Funding Boosts Advanced Battery Membrane Tech

Zhiqing Bocai Technology Co., Ltd. has successfully closed an Angel+ funding round, securing multi-million yuan to accelerate its development of critical anion exchange membranes (AEMs). The investment was spearheaded by Dalian Rongke Energy Storage Group Co., Ltd., a prominent player in all-vanadium flow battery technology, with participation from existing investor Rongtuo Capital. This capital infusion is earmarked for advancing core material research and enhancing engineering capabilities.

Established in mid-2023, Zhiqing Bocai is focused on bolstering domestic production of AEMs, a vital component for next-generation energy storage solutions. These membranes are integral to both water electrolysis for hydrogen production and flow battery systems, enabling more efficient and cost-effective energy storage. The company has established a comprehensive technological framework, from resin synthesis to membrane fabrication, backed by numerous proprietary intellectual property rights and demonstrating consistent production output.

The strategic importance of AEMs in the clean energy transition cannot be overstated. In hydrogen generation via water electrolysis, AEMs facilitate operation under mildly alkaline conditions. This allows for the utilization of less expensive non-precious metal catalysts and structural materials, significantly reducing equipment expenditure. Furthermore, AEM technology offers advantages akin to PEM electrolyzers, including a compact design, high current density, rapid response times, and high gas purity.

Within the flow battery sector, AEMs play a crucial role in preventing the cross-permeation of active materials between the battery's positive and negative electrodes. This precise ion selectivity is fundamental to mitigating capacity degradation over time and extending the operational lifespan of these systems, positioning AEMs as a key enabler for large-scale, long-duration energy storage at a reduced cost. The global flow battery market is projected to reach $30 billion by 2030, underscoring the significant market opportunity.

Since commencing commercial sales in March 2025, Zhiqing Bocai has fulfilled over 60 orders for more than 20 clients globally. Its products are progressively being integrated into industrial value chains. The company has successfully delivered multiple orders for hydrogen production electrolyzers following rigorous certification by domestic clients. In the flow battery arena, Zhiqing Bocai has secured strategic domestic partnerships and initiated testing collaborations with European and Korean firms. Notably, the company's AEM products offer a compelling cost advantage, priced at approximately one-third of comparable international offerings, while achieving impressive performance metrics such as tensile strength exceeding 50 MPa and a swelling rate below 8 percent.

The company's leadership team brings a wealth of expertise. Founder Peng Hanqing, a Ph.D. from Wuhan University, possesses nearly a decade of dedicated research in AEMs. Co-founder Xue Zhirui brings entrepreneurial experience from tech giants like Huawei and Lenovo. Sun Wenbin, Director of Applied Chemistry at Heilongjiang University, contributes over two decades of specialized knowledge in organic synthesis and polymer materials.

Looking ahead, Zhiqing Bocai aims to refine its AEM products to further enhance performance and drive down manufacturing expenses. The company also intends to explore AEM applications in emerging fields such as CO2 electroreduction, seawater desalination, and electrodialysis. Plans are underway to establish a dedicated production facility to scale capacity in line with market demand, supporting the projected growth of the water electrolysis market, which is anticipated to expand from $5.5 billion in 2025 to approximately $37.7 billion by 2035.