[First release] NuRay secures hundreds of millions in funding as "Cold Cathode" technology reshapes global high-end X-ray imaging
Recently, NuRay Technology Co., Ltd. (referred to as NuRay Technology), a global leader in CNT "Cold Cathode" multi-beam X-ray tubes, announced the completion of a strategic financing round worth hundreds of millions of yuan.
The round was led by the China National Nuclear Corporation Capital, with participation from China Shigu Fund, Lotus Lake Capital, and the Changzhou Jintan District Industrial Fund. The raised funds will be used to expand the production capacity of innovative "Cold Cathode" X-ray sources and promote the research, development, and commercialization of solutions in the fields of medical imaging, industrial non-destructive testing, and security inspection.
As the only company in the world capable of mass-producing "cold cathode" multi-beam X-ray tubes, NuRay has deeply integrated its innovative technologies with application scenarios, achieving scaled sales in security inspection, industrial, and many other fields.
NuRay's CNT "Cold Cathode" Multi-Beam X-ray Tubes (Partial Products)
After receiving joint investment from the state-owned enterprise industry fund and government guidance fund in this round, the company will continue to integrate the ecological resources it has built in the frontier technology field, accelerate the technological research, development and industrialization process of core components and complete machine systems for high-end imaging, and strive to enhance its independent innovation capabilities and global market competitiveness in the field of high-end radiation imaging equipment.
In recent years, the rapid development of innovative equipment such as mobile CT and fast CT has placed higher demands on X-ray sources — achieving high power in as small a volume as possible to meet the needs of applications such as rapid scanning and high-definition imaging, significantly driving the accelerated resolution of a series of technical challenges.
"Cold Cathode" X-ray sources generate X-rays by emitting electrons through carbon nanotube field effect, eliminating the need for the high-temperature heating process of traditional hot cathodes. They offer significant advantages such as fast response, low power consumption, and ease of integration. These characteristics have attracted several multinational imaging equipment giants to actively invest in this technology field. However, due to the complex preparation of carbon nanotube cathodes, large fluctuations in field emission current, high difficulty in process integration, and high R&D costs, there are still very few companies worldwide that possess independent research and development capabilities for "cold cathode" X-ray sources and have achieved industrialization.
NuRay, as a representative of innovative enterprises in China, has not only overcome the challenges in the preparation and mass production of carbon nanotube cathodes but also developed the world's first CNT "Cold Cathode" multi-beam X-ray tubes based on this technology. By utilizing a novel field emission electron control system to switch X-rays at different positions, it achieves rapid multi-angle scanning with high-definition image quality, thereby providing static 3D imaging solutions for various imaging applications.
After years of iteration, NuRay's CNT "Cold Cathode" multi-beam X-ray tubes has taken the lead in core indicators such as lifespan, adaptability, reliability, and power consumption compared to overseas high-end products.
When China-produced core components reach the top tier globally, NuRay undeniably opens up new possibilities for the development of high-end instruments and advanced imaging equipment in China.
In recent years, NuRay has been exploring the clinical value of CNT "Cold Cathode" multi-beam X-ray tubes in the medical imaging field. During this process, the company has applied its innovative X-ray source technology to more scenarios and taken the lead in launching corresponding integrated solutions, becoming a leader and pioneer of this new technology.
X-ray imaging equipment is an essential diagnostic tool in clinical dentistry. Current imaging technologies struggle to balance rapid high-definition, low-dose, and three-dimensional panoramic imaging, significantly limiting the improvement of diagnostic and treatment standards.
NuRay's intraoral 3D imaging system
To address the aforementioned issues, NuRay has introduced a "cold cathode" multi-beam X-ray tubes into oral imaging. The new intraoral X-ray 3D imaging system provides richer 3D imaging details, comprehensively presenting the patient’s oral condition, assisting doctors in better identifying subtle dental lesions. It offers significant clinical diagnostic advantages and is expected to become the new standard in oral diagnosis and treatment.
In addition to innovating in dental applications, NuRay is also promoting the use of CNT "Cold Cathode" multi-beam X-ray tubes technology for imaging of breast, chest, head, joint, and other tissues.
After this round of financing, NuRay will accelerate the research and promotion of relevant solutions, further enhancing the clinical value of "cold cathode" X-ray sources to achieve fast, high-definition, and three-dimensional imaging with lower radiation doses. This will lead to more precise diagnosis and treatment plans, benefiting more patients.
Application Directions of NuRay's CNT "Cold Cathode" Multi-Beam X-Ray Tubes
NuRay was established in 2015. A decade ago, it had already collaborated with Nuctech, a globally renowned security inspection solutions provider, to develop static CT technology based on CNT "Cold Cathode" multi-beam X-ray tubes technology. In 2021, the world's first static CT intelligent security inspection system was launched, and the following year, the system was selected as one of the "Top Ten Events in the Field of Nuclear Technology Applications in Recent Years" by the China Atomic Energy Authority. After this round of financing, NuRay will further explore the core application value of "Cold Cathode" X-ray sources technology and continue to promote its innovative applications in various fields such as medical imaging, security inspection, and manufacturing industry.
Speaking of this financing round, Zhao Xin, Party Secretary and Chairman of the leading investor, China National Nuclear Corporation Capital, stated, "NuRay's globally leading X-ray source technology aligns deeply with CNNC's high-quality development industrial layout in the field of nuclear technology applications. Regarding the series of high-end X-ray source products it has launched, in the medical field, they are conducive to promoting the upgrading of high-end imaging equipment in China and can significantly improve the detection rate of early lesions. This is consistent with our mission of promoting the "Healthy China" strategy; in the industrial nondestructive testing field, they can provide unprecedented precision 'insight' capabilities for high-end manufacturing such as aerospace and new energy, ensuring the safety of crucial equipments of national importance; in public safety sector,NuRay's high-speed, high-resolution imaging capability is the core technological cornerstone for building robust defenses in intelligent security checks and anti-smuggling activities. This represents the 'infrastructure' for constructing the future of China's nuclear technology application industry, and also implies that we have the opportunity to reshape the industrial chain and value chain of high-end radiation imaging equipment globally. We will fully promote the deep collaboration between NuRay and enterprises within the CNNC system, accelerate the implementation and iteration of its technology across various application scenarios, and jointly build a more resilient and competitive industrial ecosystem."
Lu Zhihong, Investment Director of of HZIAM (Hangzhou) of China Shigu Fund, stated, "We see an opportunity in a platform-type technology with an incredibly high application ceiling. This team has the capability to transform globally leading technology into products that define the global market. We believe that NuRay's innovative technology and high-performance core components will become one of the key engines driving the rapid advancement of high-end medical imaging equipment, industrial non-destructive testing, and intelligent security inspection systems. The China Shigu Fund will leverage our ecosystem resources in cutting-edge technology fields to connect NuRay with top AI algorithm partners, application scenario providers, and more, supporting the company’s growth into a leading global enterprise in the intelligent imaging sector."
With the collaboration of multiple parties, NuRay has now sufficient capability to accelerate its breakthroughs in cutting-edge technology fields, promoting the innovative integration and industrial implementation of basic materials, core components, and system solutions.
At the same time, NuRay stated that the company will actively participate in the construction of an innovative ecosystem for X-ray imaging equipment, to enhance the independent research, development, and manufacturing capabilities of high-end equipment in our country, and to practice responsibility and contribute value towards the strategic goal of achieving self-control of high-end equipment.