Sugentek has received over 200 million yuan in financing! The world's first 10,000-ton HMF production line is accelerating.

On October 1, 2025, Zhejiang Sugan Technology Co., Ltd. (hereinafter referred to as "Sugan Technology") announced the achievement of an important milestone, successfully completing equity and debt financing of over 200 million yuan. This round of financing attracted participation from many well-known institutions including the National Investment Corporation, the Provincial Green Petrochemical and New Materials Fund, as well as local governments at the county and municipal levels in Zhoushan. The multi-level fund investment at the national, provincial, municipal, and county levels demonstrated the firm confidence of the market and capital in the development prospects of Sugan Technology. 
This combined financing strategy not only optimized the company's capital structure, but also provided sufficient financial support for the company's core project - the 12,000-ton/year 5-hydroxymethylfurfural (HMF) production project, the pilot plant and the supporting auxiliary facilities. This will accelerate the completion of the world's first HMF ten-thousand-ton production line. 

Sugar & Tech was established in December 2017. It is a globally leading enterprise specializing in the research, production and application of bio-based furan new materials. Its core technology originates from the Ningbo Institute of Materials Technology and Engineering of the Chinese Academy of Sciences. The company, leveraging its advanced raw material production capacity and innovation advantages in the downstream industry, has established an "1 core monomer + N derivative innovative products" development system for bio-based materials. So far, it has cumulatively broken through more than 120 key technologies, covering core aspects such as efficient dehydration catalysts, solvent-assisted catalysis, and green purification processes. It has successfully overcome technical barriers such as low selectivity, unstable products, and difficult purification in the production of HMF, and has pioneered the continuous production process internationally, filling the technical gap in this field. The series of downstream products developed based on HMF have been successfully applied in multiple fields such as high-performance engineering plastics, high-barrier film materials, bio-based fibers, adhesives, surfactants, environmental coatings, feed additives, and food additives, achieving the domestic self-control of key raw materials. 

Sugar & Tech actively collaborates with numerous leading chemical enterprises both at home and abroad, establishing stable partnerships. The cooperation covers technical collaborative development, supply chain integration, and jointly promoting the application innovation of HMF and its derivatives in fields such as polyester and new materials. With the strong support of multiple leading enterprises and the impetus of the industrial chain, the HMF industry has witnessed rapid development. The production capacity of downstream derivatives like FDCA has continued to expand, and application scenarios have been continuously expanded, gradually forming a complete ecological chain from raw materials at the upstream to the final products. This cooperation pattern not only significantly enhances the international competitiveness of related enterprises in China, but also injects strong impetus into promoting the high-quality development and green transformation of the bio-based material industry.