Crerax completes CNY 30 million fundraising round

Starting a new chapter in corporate strategic development

July 14th – Crerax announces that a total of CNY 30 million is raised in the round of fundraising completed today, entering a new phase of business growth and strategic development.

Crerax is an R&D-driven company dedicated to the research and development of disruptive new materials. Its products and solutions can be widely applied to more than 120 industries, such as construction materials, automotive materials, aerospace parts, and printing and dyeing materials. The company has improved the products and lives for clients all over the world.

The funds raised is aimed to support Crerax’s production capability expansion and R&D development. The investor, Longwater, is a renowned PE fund specialized in advanced materials and chemical industry in China. The partnership is expected to create extensive synergy and add value to Crerax’ sustainable development and strategic planning.

We welcome Longwater as our new shareholder. This marks a new milestone for Crerax to enter the capital market. The company has now expanded its business from basic chemical materials to various new materials, such as Vitusis MABA® multi-functional wall base coat materials, boron-free super lightweight clay, PVC/TPE/TPR functional masterbatches…., constructing a new material ecosystem. With R&D at our core, we strive to provide innovative, highly effective, energy-saving, and strategic solutions for more industries.”

–Angela Chen, CSO, Crerax

Crerax has an industry-leading product and technology platform. Its expandable microspheres can be widely used in various industrial and consumer scenarios that require thermal insulation, lightweight, and elasticity, and has a great potential to extend to wider industries and more applications. Investing in Crerax is in line with Longwater’s investment strategy of focusing on the chemical and materials fields and focusing on future growth, technology and sustainable development. We are very excited to work alongside Crerax’s professional and dedicated founding/management team and look forward to using our expertise and resources in new materials to achieve synergy and value and help Crerax to develop better and faster.”

–Xuesong Shi, Managing Partner, Longwater

For more than ten years, Crerax has started from the research and development of expandable microspheres (lightweight filler and foaming agent for plastics, rubber and many other materials), and gradually developed upstream methacrylonitrile (critical raw material for aerospace, military and civilian high-tech, rail transit, lightweight automotive applications, pharmaceuticals, etc.), and expanded to downstream application areas like Vitusis coatings (comprehensive energy-saving and thermal insulation coating systems for buildings), boron-free super lightweight clay (“0” boron-added safe super lightweight clay that addresses critical industry pain points), GMT (lightweight, thermal insulation, high-performance material solutions for automotive, construction and other industries), and solution provider (PVC/TPE/TPR and other functional masterbatches). Crerax has gradually formed a comprehensive ecosystem that drives resources sharing and empowers the overall new material industry.

Crerax has obtained more than 60 patents and taken home certifications and awards such as ‘National High-tech Enterprise’. Faced with the common pursuit of lightweight, comfortable, and sustainable future life, and rapid development of 5G and new energy, the new material industry, which is the cornerstone of the development of strategic emerging industries, will inevitably need to upgrade its technology and products for the future life of ‘unlimited possibilities’. Crerax view this round of fundraising as the starting point for it to further its corporate mission to serve more customers and industries and become an innovative force in the field of new materials.

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