SHANGHAI, Aug. 11 (SMM) – Smart Energy plans to raise funds for the research, development and upgrade of 3Gwh high energy density motive storage lithium-ion battery, based on the company’s announcement on August 10.
The company proposes to collect funds of 3.11 billion yuan ($ 0.47 billion) through issuance of shares with per share worth 9.02 yuan. Of the funds, a total of 2.51 billion yuan will be invested in the lithium-ion project and the rest 600 million yuan will be used to add cash liquidity. Total investment for the project is 3.89 billion yuan.
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