MaHui | Photovoltaic encapsulant firm Sinopont closes hundreds of millions of yuan in Series D funding round with Source Code Capital participation
#MaKe Key Updates from Source Code Capital and MaHui Members
Zhejiang Sinopont Technology Co., Ltd. ("Sinopont" or the "Company") recently announced the completion of its Series D financing round, raising several hundred million RMB. The round was joined by State Power Investment Corporation, CICC Capital, China Structural Reform Fund, Source Code Capital, GGV Capital, Pujiang State Investment, and other industrial investors. The proceeds will further consolidate Sinopont's leading position in POE encapsulant film, expand production capacity, and improve efficiency while reducing costs.
Founded in July 2006, Sinopont was among the first Chinese companies to achieve mass production of POE encapsulant film. As the photovoltaic industry transitions to N-type cell technology, POE film — with its superior anti-PID, aging resistance, and water-blocking properties — is positioned for comprehensive adoption alongside the rapid scaling of N-type cells. Photovoltaic encapsulant film serves as a critical auxiliary material covering the top and bottom surfaces of solar cells; together with photovoltaic glass, backsheet, and other materials, it is laminated under vacuum to form a solar module, primarily protecting the cells and effectively extending module lifespan. Compared to conventional EVA film, emerging POE film features lower water vapor transmission rates, higher volume resistivity, and greater weather resistance, improving the safety and long-term aging resistance of modules operating in high-temperature, high-humidity environments and enabling more durable, efficient performance.
Kevin Wu, Managing Director at Source Code Capital, commented: "The photovoltaic industry is undergoing tremendous transformation. N-type cells led by TopCon have entered their first year of industrialization and are beginning a phase of explosive, large-scale mass production, which places higher demands on photovoltaic encapsulant materials. POE film, with its low water vapor transmission rate and superior durability, is better suited to new cell types like TopCon and ensures long-term module performance, opening up vast market opportunities. Sinopont is one of China's leading enterprises in photovoltaic POE encapsulant film, with deep technical expertise, extensive mass production experience, a leading domestic and international customer base, and strong supply chain support. We believe the company is well-positioned to provide high-quality encapsulation materials to customers amid the N-type cell wave and grow into a global leader in photovoltaic new materials."
MaKe | Energy Digitalization Service Operator ZE Energy Completes Series A Round of Over RMB 100M
Source Code Capital as Co-Investor
MaKe | Optical Communication Chip Design Company Lexinchip Completes Two Rounds Raising Several Hundred Million RMB
Source Code Capital Leads Pre-A Round
MaKe | Semiconductor Company Raysolve Completes Two Rounds Raising Tens of Millions of USD
Source Code Capital as Sole Seed Round Investor
Click "Read More" to view more Source Code Capital portfolio companies
