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HONG KONG, Aug 9, 2010 - (ACN Newswire) - The market demand for energy conservation and environmental protection keeps increasing in recent years, which promotes the widespread application of lithium batteries. As a core element of lithium batteries, the lithium battery positive material is thought to have a good prospect. Focusing on the four new industries, China Innovation Investment Limited ("China Innovation", Stock Code: 1217.HK)'s investment plans to invest on the field of lithium batteries, which further strengthens China Innovation's ability on "new energy" sector.
Lithium batteries are mainly used in portable electronic products like digital cameras, cell phones and notebook computers. With the global concern on energy saving and environmental protection, as well as the ever-advanced technology, its application further spreads to electric vehicles, electric bicycles and energy storage and other fields, implying the rapid development of lithium battery market, while lithium battery positive material, the core element of lithium batteries, is facing different business opportunities.
According to a research conducted by an economic institution in Beijing, lithium battery positive material is well-equipped with advantages of high energy density, long life span, high temperature resistant, fast charging, small, light weight, cheap, green and environmental protection. It is also the best material for energy storage devices currently.
Looking back on the gradual introduction of lithium battery positive material technology by Chinese investors in recent years, based on the assumption made by the economic institution, only individual enterprises in China involved in the industry in 2005, however, the manufacturers have already jumped to around 106 last year.
Experts in the industry estimate, the demand for lithium batteries in China in the coming three years will reach more than 50,000 tons, which is equivalent to market value of RMB$7.5 billion. The power batteries in particular, will even have a stronger demand, while the current global annual capacity for lithium battery materials is only less than 1 million tons, producing a huge demand and supply gap in the market.
Seeing the potential growth in lithium battery positive material market, China Innovation's investment flagship on solar batteries,(Topsun Creation Limited, "Topsun Creation") its subsidiary (transliterated as Topsun Creation (China) Energy Technology Limited, "Topsun Creation China") has entered into a JV agreement earlier with Dr. Sun Runguang and Dr. Tang Hao, the lithium battery experts, to form a joint venture in China at a registered capital of RMB 50 million, with a view to expanding the field of lithium batteries by production and sale of the materials for the positive electrode of lithium battery.
Topsun Creation China owns advanced solar energy storage technologies and research and development team. The company was mainly dedicated to the research and development as well as marketing in the area of the lead acid batteries with energy-saving batteries for new energies as its major products. The joint venture will acquire the franchised technology of the lithium iron phosphate, materials for the positive electrode of lithium battery through the establishment of the joint venture with venture partners.
In this way, the proposed formation of the joint venture by Topsun Creation China and venture partners for the expansion of the lithium ion battery market can strengthen China Innovation's capacity in the "new energy" business. It also goes with the development trend of "new energy" for China and the world.
Contact:
Carmen Lee
Investor Relationship Department
China Innovation Investment Limited
Email: carmen.lee@1217.com.hk
Tel: +852 2111 9988
Direct: +852 2155 6275
Mobile: +852 6301 6611
Fax: +852 2111 9989
Topic: Press release summary
Source: China Innovation Investment Limited
Sectors: Alternative Energy
https://www.acnnewswire.com
From the Asia Corporate News Network
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