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Chinese market: electrolytic cobalt, electro-deposit copper
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Build Together Win the Future Together! Commencement Ceremony of 40,000 t/a Ternary Precursor Project of Huajin Company was held.
On January 3, the Commencement Ceremony of 40,000 t/a Ternary Precursor (used for high nickel power batteries) Project of Huajin New Energy Materials (Quzhou) Co., Ltd. was held in Quzhou.
The deputy director Jin Yonghong of Management Committee of Quzhou Green Industry Clustering District, vice presidents Chen Yaozhong and Fang Yuan and assistant president Lu Feng of Huayou Cobalt, general manager Yan Hewen of Huajin Company, and other guests, representatives of construction participating units, and team of new energy industry group, more than 150 people in total, attended the commencement ceremony.
“Today, the commencement of Huajin Project means that Huajin New Energy Materials (Quzhou) Co., Ltd. has opened a new page at a new starting point.” Chen Yaozhong, chairman of Huajin Company, said in his speeches: the implementation of Huajin Project has conformed to the industrial evolution trends, seized the opportunity of industrial development, reflected the strong will of Huayou to develop the new energy lithium battery material industry, and showed its strategic determination to become the leader in new energy lithium battery material in the world. Chen Yaozhong expressed his warm congratulations to the successful commencement of this project on behalf of Huayou Cobalt and New Energy Industry Group, extended his sincerest gratitude to Quzhou municipal committee of CPC, municipal government, and Quzhou Green Industry Clustering District, and showed his appreciation to all parties facilitating the successful development of project!
According to Chen Yaozhong, as early as 6 years ago, Huayou Cobalt and LG-Chem had business contact in the lithium battery material field and establish the partnership of mutual trust. In the first half year of 2018, they signed a formal joint venture agreement, marking that their cooperation reached a higher stage. It’s hoped to take the 40,000t in phase I as the starting point of cooperation and reach the expected 100,000t as soon as possible, to lay a firm foundation for the subsequent broader development, and develop Huajin Company into a demonstration of “Build Together Win the Future Together” and make it grow into a successful model of cooperation between China and South Korea!
According to Yan Hewen, general manager of Huajin Company, to promote the cooperative construction and sharing development, Huayou Cobalt, as the world’s leader in cobalt industry, cooperated with LG-Chem, world’s leader in battery production and research & development, to establish Huajin Company, for the promising future of lithium battery industry. The establishment of Huajin Company indicated that LG-Chem and Huayou became a family. China possesses the world’s largest new energy vehicle market, and Huajin Company will certainly grow into a precursor factory leading China and even the world. Huayou Cobalt and LG-Chem are expected to cooperate with each other for joint construction, co-creation, and sharing, so as to make new contributions to the economic development of China and South Korea.
Jin Yonghong, deputy director of Management Committee of Quzhou Green Industry Clustering District, expressed in the speeches that: “The formal commencement of Huajin New Energy Materials (Quzhou) Co., Ltd. will certainly have a positive and far-reaching influence on our clustering district’s further increasing the economic aggregate, actively developing into high-tech industrial clustering zone, and accelerating to form the growth pole and new engine to promote the regional economic development. We will make all efforts to build the optimal business climate, to support the project development to the utmost extent.” Jin Yonghong hoped that Huayou Cobalt and LG-Chem could coordinate and cooperate with each other in the project construction process, to guarantee that the project could be completed and put into production as early as possible, therefore, making contributions to the development of our clustering district and the economic development of Quzhou City.
Huajin New Energy Materials (Quzhou) Co., Ltd. is a wholly-owned subsidiary of Zhejiang Huayou Cobalt Co., Ltd., and a joint-venture company of Zhejiang Huayou New Energy Technology Co., Ltd. and LG-Chem, in which, Zhejiang Huayou New Energy Technology Co., Ltd. invested USD 81,090,000, accounting for 51% of registered capital, and LG-Chem invested USD77,910,000, accounting for 49% of registered capital.
With the registered place in High-tech Industrial Park in Quzhou of Zhejiang, Huajin New Energy Materials (Quzhou) Co., Ltd. was founded in July 2018. The project of phase I t/a 40,000 ternary precursors used for power batteries of Huajin New Energy Materials (Quzhou) Co., Ltd. is located in the southwest corner of the land for cobalt-lithium battery industry clustering of High-tech Industrial Park in Quzhou of Zhejiang, with a covering area of 230Mu (1Mu=666.67m2).