China’s Tiance Technology to build a large-scale asphalt-based carbon fiber production line

Tiance Technology held a financing signing ceremony in Xi’an National Civil Aerospace Industry Base, announcing the completion of the first round of financing of more than 100 million yuan (€ 14 million). 

This round of financing was led by the Shaanxi Aerospace Power Research Institute, while other investors include the National Small and Medium Enterprise Development Fund, the Provincial Financial Investment and the Provincial Science and Technology Control. It will be mainly used for the construction of a large-scale production line of asphalt-based carbon fiber – a key project in Shaanxi Province. 

At the same time, Tiance Technology also signed an “Air and Space New Material Supply Chain Strategic Cooperation Agreement” with Shaanxi Coal Shenmu Chemical Group, a subsidiary of Shaanxi Coal and Chemical Industry Group, the largest state-owned enterprise in Shaanxi Province. The aim is to cooperate in the construction of a 10,000-ton silk asphalt industry base, to build a domestic leading carbon-based new material industry chain and promote the transformation of Shaanxi Province’s coal resources advantages to new material innovation.