Solvay Ventures, the venture capital fund of Solvay, announced its investment in Chengyang Tech, a Chinese startup developing electrochemical technologies for on-site H2O2 production, as part of an expanded effort to explore its core technology for applications in long-duration energy storage and water electrolysis.

Chengyang's solutions effectively create new energy-efficient processes to convert air and water into chemicals using electrical energy, positively impacting the planet and accelerating society's journey towards carbon neutrality.

As the first technology in its platform, Chengyang Tech has developed a modular generator that produces alkaline hydrogen peroxide (H2O2) directly on the customer site based on patented electrochemical technology. This electrochemical process consumes only air, water and electricity, while producing no waste. This technology makes it possible to produce and use green alkaline H2O2 in areas where transportation is difficult or too expensive.

“Chengyang brings to life an exciting technology platform, strongly aligned with Solvay’s commitment towards carbon neutrality. We are also proud to highlight this as our first direct venture capital investment in China; an increasingly innovative and dynamic ecosystem,” said Thomas Canova, Head of Technology Scouting & Venturing at Solvay.

“Innovation in electrochemical technologies is critical for reaching zero-carbon chemical and energy production," said Dr. Ming Qi, CEO of Chengyang Tech. "Chengyang Tech has long focused on developing advanced electrochemical technologies, achieving breakthroughs in on-site hydrogen peroxide generation. Solvay is the global leader in hydrogen peroxide and we are excited to work together to provide a safe, low-carbon hydrogen peroxide source with our on-site system.”

"Solvay, as a leader of hydrogen peroxide production, welcomes and supports innovative low carbon footprint solutions to contribute to carbon neutrality," explained Peter Browning, President of Solvay Peroxides. "We are delighted to support Chengyang Tech in bringing their revolutionary technology to market.”