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Shanghai-based developer of carbon paper and carbon cloth substrates for hydrogen fuel cells, electrolyzers and vanadium batteries.
Based in Shanghai, China, and founded in 2022, Shanghai Keyang New Materials Co., Ltd., trading as VEL Keyang New Materials, develops carbon paper and carbon cloth substrates for gas diffusion layers. Its carbon paper serves as a core material for fuel cells and PEM electrolyzers in hydrogen energy, and its carbon cloth is used as carbon electrodes in vanadium batteries. In September 2026 it raised venture funding from Leading Capital, which will go to advanced carbon material production lines, technology R&D and market expansion.
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