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In the new district, there is a “picky” company – Nanjing Shiqi Biochemical Technology Co., LTD. (hereinafter referred to as “Shiqi Biochemical”). It doesn’t like to “eat” anything else and only “eats” the industrial waste gas emitted by factories. Even more astonishingly, it can transform these troublesome “waste gas feasts” into precious biofuels and chemical raw materials, achieving the goal of “creating something out of nothing and turning waste into treasure”.
It is precisely such a company with a “unique taste” that has recently become a “hot commodity” in the investment circle. During the interview, co-founder Wang Qingzhuo’s phone kept ringing as he was busy with the company’s new round of financing closing.
Looking through the “history” of Shiqi Shenghua, its growth rate can be described as “light speed” : since its establishment in January 2023, this is already the fifth round of financing it has completed in three consecutive years. From the angel round to the Pre-A+ round, leading institutions such as Boyuan Capital and Tencent Investment have all invested heavily, voting for its “black technology” with real money.
01 Brothers and apprentices come together to start a business
Why is this company so lucrative? The story begins with two “outstanding students” and their fellow apprentices.
Co-founders Wen Zhiqiang and Wang Qingzhuo are both from the same school, both from the Key Laboratory of Synthetic Biology, Chinese Academy of Sciences. The research group where the two are located has been deeply engaged in the field of “industrial microbiology” for over 20 years and has served hundreds of industrial projects. It is one of the top gathering places for top experts in China. It is reported that the talents cultivated here have founded nearly ten synthetic biology companies.
After obtaining their doctoral degrees, both of them chose to stay and work at universities in Nanjing. They transformed from comrades-in-arms in the laboratory to “new Nanjing residents” living together in the same city.
This experience of teaching at a university not only broadened their academic horizons but also deepened their understanding of the industrial environment and innovative atmosphere in Nanjing.
At an industry summit, we received guidance from our seniors and realized that the technology in the laboratory has reached a critical point where it can be applied to the industry and change the world. Looking back on the original intention of starting a business, the two admitted that when they decided to bring the technology to the market, they hit it off immediately – “Right in Nanjing, right in Jiangbei New Area.”
Here, there is not only the familiar living circle they are familiar with, but also a thriving land of innovation.
02 “Black Technology” for Consuming “Waste Gas”
So, what kind of “black technology” do they actually possess that enables them to win the favor of capital one after another? The answer lies in those microorganisms that are invisible to the naked eye.
Their core technology, in simple terms, is to “modify” a type of microorganism called “gas-consuming microorganisms”.
Through our gene editing technology, these tiny microorganisms can transform into “super foodies”. Wang Qingzhuo made a vivid analogy, saying, “They ‘consume’ carbon monoxide and carbon dioxide in industrial waste gas, but what they ‘spit out’ are high-value chemicals.” Many of the daily necessities you come into contact with are very likely the creations of us, the “foodies” of microorganisms.
It sounds interesting, but in fact, only a few enterprises around the world can achieve this precise “surgery” on microorganisms.
“At present, there are only four companies worldwide that can scale up this technology in engineering, while only two companies in China have truly mastered it. Our company, Shiqi Shenghua, is one of them.” ” Wang Qingzhuo said.
03 The pilot plant has been put into operation
What is the market response when the cutting-edge technologies in the laboratory are put into practice?
What others consider a “burden” that requires payment to handle is all precious raw materials for production here. Wang Qingzhuo introduced that the company has two business models. One option is “Let’s build a cafeteria together” – jointly invest with enterprises that produce waste gas to build a factory. The other party can take shares and share the long-term benefits. Another option is to directly sell “exclusive recipes” – licensing mature technical process packages to customers for use.
At present, against the backdrop of the national “dual carbon” goals, many large energy enterprises need to pay for carbon reduction. However, Shiqi Biochemical has taken the initiative to come to them, spending money to purchase “waste gas”. This move has naturally attracted many customers, and many large enterprises in the steel, chemical, and power plant sectors have “heard the news” and come to them proactively to discuss cooperation.
At present, Shiqi Biochemical has established a research and development center and a joint laboratory in the new district and the Chinese Academy of Sciences, and has set up a subsidiary in Henan Province. It is also cooperating with local large coal chemical enterprises to promote pilot production lines and is advancing large-scale pipelines with a capacity of 10,000 tons.
This “black technology” company that took off from the new district is riding the waves and growing rapidly in the gas fermentation field with its unique “recipe”.
