SMM, December 6 -
On December 4, 2024, Tongxing Environmental Protection stated in response to an investor's question that the company had made significant breakthroughs in the research and development of cathode active materials for sodium-ion batteries.
Tongxing Environmental Protection adopts the polyanion route, which inherently has sodium replenishment capabilities and is designed for long life cycle battery systems. Through a unique sodium replenishment coating process, the material significantly enhances the initial charge capacity and the cycling performance of the full battery while maintaining excellent electrochemical and processing performance. This process also optimizes the material's pH value to 9.0 and keeps costs low. Currently, the initial charge efficiency of sodium-ion batteries in the industry is generally around 80%, while Tongxing Environmental Protection's materials can increase this efficiency to over 95%, demonstrating significant energy density advantages.
In January 2024, Tongxing Environmental Protection, in collaboration with the research team from Southwest University, established Hefei Haosheng New Energy Technology Co., Ltd., dedicated to building a production site for key materials of sodium-ion batteries and actively promoting the iterative upgrade of sodium-ion battery technology. Currently, Haosheng New Energy has an annual capacity of 200 mt of sodium-ion battery cathode active materials, showing strong growth momentum. Additionally, the company has purchased 183 mu of land and plans to further expand its capacity, aiming to achieve an annual production of 20,000 mt of key materials for sodium-ion batteries in the future.
On June 7, 2024, Ma'anshan Haosheng New Energy Technology Co., Ltd. announced the "Sodium-ion Battery Cathode Active Material Production Site Construction Project." The total investment for this project is 602.186 million yuan, located in the Hanshan Economic Development Zone (West District), covering an area of 183.95 mu, with a total building area of 159,425 m². The project plans to purchase advanced production equipment such as sand mills, dryers, closed-circuit jet mills, permanent magnet iron removers, electromagnetic iron removers, and roller kilns. Upon completion, the project is expected to achieve an annual production of 20,000 mt of polyanion cathode active materials for sodium-ion batteries.
Tongxing Environmental Protection's Layout and Project Progress in the Sodium-ion Battery Industry
1. 【Sodium-ion Battery Cathode: Tongxing's Sodium-ion Battery Cathode Layout Shifts from Layered Oxide Route to Polyanion NFPP Route】On November 22, 2024, Tongxing Environmental Protection stated that the company's strategy in the sodium-ion battery project had changed. Previously prioritizing the layered oxide route, the R&D team, after verification and market survey analysis, comprehensively decided to adopt the long cycle polyanion route as the cathode active material for sodium-ion batteries. In terms of production lines, a pilot plant with an annual capacity of 200 mt has been completed, and 180 mu of land has been purchased for the construction of a project with an annual capacity of 20,000 mt of sodium-ion battery cathode active materials. The preliminary planning of the factory has been completed, and the subsequent construction progress will be determined based on product maturity and market demand. The company plans to build the first phase of the project with an annual capacity of 6,000 mt of sodium-ion battery cathode active materials or adopt a tolling business model to flexibly respond to market demand.
2. On May 30, 2024, Tongxing Environmental Protection responded to an investor's question, stating that the sodium-ion batteries developed by the company have the potential for energy storage applications. The company focuses on developing long cycle polyanion cathode active materials for sodium-ion batteries, which, with their excellent cost advantages, charge/discharge rate performance, and cycling stability, are expected to become the best choice for long duration energy storage (LDES) in the sodium-ion battery field. Currently, Tongxing Environmental Protection is orderly advancing the pilot scale-up experiment of sodium-ion battery cathode active materials. During this process, the company has sent samples of the cathode sodium replenishment agent product for customer validation and plans to send samples of two other sodium-ion battery cathode active material products for validation soon.
3. On May 21, 2024, Tongxing Environmental Protection stated in response to an investor's question that the company is steadily advancing the pilot scale-up experiment of sodium-ion battery cathode active materials. Currently, the company has no pre-research plans for solid-state sodium-ion battery technology. In the future, the company will comprehensively evaluate various factors based on market conditions before deciding whether to adjust its R&D plans.
4. On the evening of April 29, 2024, Tongxing Environmental Protection disclosed its Q1 2024 report. In Q1 2024, Tongxing Environmental Protection achieved a revenue of 103 million yuan, and the company's sodium-ion battery products have gradually started to be sampled to meet the demand for large-scale energy storage. To enhance product competitiveness while focusing on cost, safety, and cycling performance, the company mainly conducted research on sodium-ion battery cathode active materials in the polyanion system. This system has significant cost advantages, charge/discharge rate performance, and cycling stability, and is expected to become the best choice for long duration energy storage applications in sodium-ion batteries. Currently, Tongxing Environmental Protection has developed three sodium-ion battery cathode active materials, which are not only low-cost but also have high specific capacity and stable performance. To accelerate the construction of the pilot production line for sodium-ion battery cathode active materials, the company has signed the "Investment Cooperation Agreement for the Annual Production of 20,000 mt of Sodium-ion Battery Cathode Active Materials" with the Management Committee of the Hanshan Economic Development Zone in Anhui.
5. On March 1, 2024, Ma'anshan Haosheng successfully obtained the land use rights for the state-owned construction land plot numbered Hanshan National Land Transfer [2024] No. 4, auctioned by the Hanshan County Natural Resources and Planning Bureau, with a total transaction price of 25.0175 million yuan. This plot will be used for the construction of the sodium-ion battery cathode active material project.
6. On November 11, 2023, Tongxing Environmental Protection (stock code: 003027) announced that the company had signed the "Investment Cooperation Agreement" with the Management Committee of the Hanshan Economic Development Zone in Anhui. The company plans to invest approximately 600 million yuan to purchase over 200 pieces of equipment, including sand mills, spray dryers, and iron removers, to build a production project with an annual capacity of 20,000 mt of sodium-ion battery cathode active materials. The products of this project will be mainly used in low-speed vehicles, starter power supplies, and energy storage. The total planned land area for the project is about 180 mu, divided into two phases: the first phase covers about 70 mu, and the second phase covers about 110 mu.
7. On February 21, 2023, Tongxing Environmental Protection revealed on the investor interaction platform that the company is steadily advancing the pilot scale-up experiment of sodium-ion battery cathode active materials and battery products and will plan capacity based on relevant progress dynamics, striving to achieve mass production of products as soon as possible.
8. On November 27, 2022, Tongxing Environmental Protection announced that the company had paid the first-year cooperation fee of 15 million yuan according to the cooperation agreement signed with the University of Science and Technology of China. The "USTC-Tongxing Environmental Protection Energy Storage Battery Materials and Devices Joint Laboratory" established by both parties is currently conducting the pilot scale-up experiment of sodium-ion battery cathode active materials and related battery products. Although the research is progressing smoothly, the mass production of the company's sodium-ion battery-related products is still in the planning stage, and the specific implementation progress and execution situation remain uncertain.
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