The financing of hundreds of millions of yuan of Xi'an Technology will speed up the construction of a demonstration base for lithium battery recycling industry.

Shanghai Xian Technology Co., Ltd. (hereinafter referred to as "Xi en Technology") announced that recently, the company has completed hundreds of millions of yuan of financing, and this round of financing has introduced a number of new shareholders, such as Matrix Partners China, SAIC Hengxu, the three Gorges Green Industry Fund, CICC Chuanhua Industrial Fund, China Merchants Securities, Jiangbeizui Fund, and so on. After this round of financing, Xi'an Science and Technology will increase the research and development investment in the recycling technology of new energy lithium battery materials, and speed up the construction of a demonstration base for lithium battery recycling industry.

The predecessor of Xian Technology is Shanghai Xian Water treatment Engineering Co., Ltd., which was established in 1997. Headquartered in Shanghai, the company has three wholly-owned subsidiaries: Chizhou Xian New material Technology Co., Ltd., Anhui Xian Recycling Technology Co., Ltd. And Shanghai Xian Environmental Protection Technology Co., Ltd. The company is committed to the full resource recovery of waste lithium battery materials by using green low-carbon process, and has three business sectors: hazardous waste, comprehensive utilization of lithium electricity and material development, which cooperate with each other.

In addition, on August 10th, the factory of Sean Technology 200000 t Compact a Lithium Battery Comprehensive Recycling Project was capped. It is reported that the whole project will be divided into two phases, with a total investment of 4.1 billion yuan. The first phase of the project will build a recycling line for the treatment of 100000 tons of waste lithium batteries and positive electrode waste, which is expected to be completed and put into production in June next year, with an annual output of 40, 000 tons of ternary precursors and more than 10, 000 tons of lithium carbonate. The second phase of the project will be put into production by the end of 2023, with an annual output of 40, 000 tons of ternary precursors, more than 10, 000 tons of lithium hydroxide and 20, 000 tons of copper powder.