Rong Bai Science and Technology: the construction project of the manufacturing base of cathode materials for lithium batteries with an annual capacity of 400000 tons is to be settled in Xiantao.

On October 19, Rongbai Technology announced that the company and Beijing Rongbai Investment Holdings Co., Ltd. (collectively referred to as "Rongbai Group") and the people's Government of Xiantao City recently signed the "Strategic Cooperation Framework Agreement". The two sides plan to establish strategic cooperation in lithium battery cathode material industry base and supporting industries, capacity fund, new energy science and education base construction.

Based on the newly developed "new integration" strategy, the company has signed a strategic cooperation framework agreement with Xiantao Municipal Government. The parties involved in the agreement plan to build an annual production capacity of 400000 tons of lithium battery cathode material manufacturing base in Xiantao, which will be completed in three phases. The first phase (annual production capacity of 100000 tons) and the second phase (annual production capacity of 100000 tons) are scheduled to be completed by 2025, and the third phase (annual production capacity of 200000 tons) is scheduled to be completed by 2030.

The parties involved in the agreement plan to set up a capacity fund in Xiantao for the construction of a manufacturing base with an annual capacity of 400000 tons for lithium battery cathode materials, with an annual production capacity of 100000 tons and a capacity fund of 1.6 billion yuan. The two sides will implement the corresponding funding arrangements in accordance with the contents of the follow-up agreement.

The parties involved in the agreement plan to set up new energy materials engineering equipment companies, production capacity funds, training bases, clean energy projects, new energy recycling projects, etc., committed to building the largest positive material industry base and supporting industries of the global new energy materials industry in Xiantao City, and jointly promote the layout of Xiantao and other areas in Hubei.