(Yicai) Oct. 15 -- A consortium led by Apple suppliers in China has set up a CNY1 billion (USD140 million) clean energy infrastructure fund, aiming to ratchet up the use of renewables across the US tech giant’s Chinese supply chain by 2030.

The new fund was jointly formed by China International Capital and Huaneng Investment Management, with Amperex Technology as the anchor investor, California-based Apple announced yesterday. Other investors include Avary Holding, Dongshan Precision Manufacturing, Hon Hai Precision Industry, better known as Foxconn, and Yuto Packaging Technology.

Apple and its suppliers launched their first clean energy fund in China in 2018, which exceeded its goals, having built more than 1 gigawatt of wind and solar projects across 14 provinces. The company set up a second CNY720 million (USD100.8 million) fund this March.

Apple Chief Operating Officer Sabih Khan said the latest fund is intended to speed up progress toward achieving full carbon neutrality across the company’s supply chain by 2030. More than 90 percent of its manufacturing operations in China are already powered by renewable energy, Apple also announced yesterday.

"In our close collaboration with Apple, we have not only made significant progress in smart manufacturing and green production, but also fully integrated renewable energy into our business operations," said Geng Jibin, chief executive officer of Amperex Tech. "The new China Renewable Energy Infrastructure Fund will lift this important cause to a new level."

Khah succeeded Jeff Williams as COO in July and recently came to China with CEO Tom Cook, visiting the Changzhou factory of sensory experience solutions provider AAC Technologies and the production line of Lens Technology in Taizhou. The two Chinese firms are core suppliers of the iPhone maker. 

AAC Tech linked arms with Apple 17 years ago, participating in the development of every iPhone generation since the iPhone 4, The Paper reported, citing Director Pan Zhengmin. The Shenzhen-based company has nine research, development, and manufacturing bases in China with a total investment of USD1.5 billion, Pan noted.

Thanks to the joint efforts of AAC Tech and Apple, the Chinese firm has built the first fully automated ultra-thin vapor chamber production line to make products used in the iPhone 17 Pro series by using 100 percent recycled copper materials, Pan pointed out. 

Lens Tech provided glass panels for the first iPhone 19 years ago, with its business having expanded to multiple products since, including the iPhone, Apple Watch, Mac, and Vision Pro, said Chairwoman Zhou Qunfei, adding that all of the firm's production in China is powered by renewables.

The company also has a water recovery rate in excess of 80 percent in the anode process, while five of its parks have received Zero Waste to Landfill validation from UL Solutions, Zhou added.

Editor: Martin Kadiev