Penghui Energy: raising no more than 890 million yuan for the construction of lithium-ion battery project capacity will reach 2GWh/ year

Published: Jul 7, 2020 10:03

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SMM News: Penghui Energy plans to issue convertible bonds to raise no more than 890 million yuan for Changzhou lithium-ion battery and system intelligent factory (phase I) construction project, new high-performance lithium-ion battery R & D equipment purchase project and supplementary liquidity.

The construction project of Changzhou Lithium Ion Battery and system Intelligent Factory (Phase I) is implemented by Changzhou Penghui, a wholly-owned subsidiary of the company, located in Jincheng Science and Technology Industrial Park, Jintan District, Changzhou City, with a planned land area of 193.63 mu. The project land has obtained the real estate certificate. The construction period of this project is 18 months (excluding commissioning and production phase). The construction content is to build the plant and production line of lithium-ion battery and system. After the project is completed and all production is reached, the production capacity of lithium-ion batteries and systems will be increased by 2GWh/ years (the raw materials of the system are self-produced lithium-ion batteries), of which the production rate will be 50% in the first year and 100% in the second year.

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