Apple's Chinese Suppliers Launch $140M Clean Energy Fund

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Apple announced that its suppliers in China have established a new infrastructure fund valued at 1 billion yuan (approximately $140 million) to promote clean energy initiatives. The goal is to add one million megawatt-hours of renewable electricity to China’s power grid by 2030.

This fund was created through a partnership between China International Capital and Huaneng Investment Management, with Amperex Technology serving as the primary investor. Other notable participants include Avary Holding, Dongshan Precision Manufacturing, Foxconn (officially Hon Hai Precision Industry), and Yuto Packaging Technology.

Back in 2018, Apple and its suppliers launched their first clean energy fund in China, which surpassed expectations by developing over 1 gigawatt of wind and solar energy projects across 14 provinces. A second fund, valued at 720 million yuan ($100.8 million), was launched in March.

The responsibility for the new fund rests entirely with Apple’s suppliers, and it aims to speed up the journey toward carbon neutrality across the entire supply chain by 2030, according to Sabih Khan, the COO of the California-based tech giant.

Additionally, Apple highlighted that more than 90% of its manufacturing operations in China are powered by renewable energy.

Geng Jibin, CEO of Amperex Technology, noted, “Through close collaboration with Apple, we’ve made substantial progress in smart manufacturing and sustainable production. Fully integrating renewable energy into our business practices has been a key achievement, and this new China Renewable Energy Infrastructure Fund will take that effort even further.”

Khan took on the COO role in July, succeeding Jeff Williams, and recently traveled to China with CEO Tim Cook. They visited AAC Technologies’ factory in Changzhou, which specializes in sensory experience solutions, as well as Lens Technology’s production line in Taizhou. Both companies are critical suppliers for Apple.

AAC Technologies has maintained a 17-year partnership with Apple, contributing to every iPhone model since the iPhone 4, according to Director Pan Zhengmin. The Shenzhen-based company operates nine R&D and manufacturing facilities nationwide, with a total investment of around $1.5 billion.

Thanks to collaboration with Apple, AAC Tech successfully developed China’s first fully automated ultra-thin vapor chamber production line, utilizing 100% recycled copper for components used in the iPhone 17 Pro series.

Lens Technology supplied glass panels for the original iPhone 19 years ago, and its business has expanded to include various Apple products such as the iPhone, Apple Watch, Mac, and Vision Pro. Company Chairwoman Zhou Qunfei stated that the company’s entire Chinese manufacturing operates on renewable energy, with over 80% water recovery during the anode process, and five of its production parks have achieved Zero Waste to Landfill certification from UL Solutions.