Due to the boom in the market for energy storage technologies, the competition in the market segment for Na-ion batteries is also heating up and attracting investors that are not established participants in the battery industry. On November 16, Jiangsu Fengshan Group announced that its holding subsidiary Fengshang Quannuo New Energy Technology has inked a strategic cooperation agreement with Jiangsu Zoolnasm Energy Technology. Together, they will develop material solutions for Na-ion batteries and promote the commercial adoption of Na-ion batteries across various energy storage applications. Fengshan Group is mainly known as a supplier for herbicides, whereas Zoolnasm is a startup that develops Na-ion batteries.
In terms of product development, Fengshan and Zoolnasm will be working on electrolytes that are suitable for various types of Na-ion batteries. They will include but not limited to electrolytes with a wide temperature range (i.e., from minus 20 degrees to 60 degrees Celsius) and a wide voltage range. Furthermore, they will design electrolytes for special applications such as high-power energy storage systems and energy storage solutions for deployment under extremely high or low temperatures.
Fengshan Group develops, manufactures, and sells herbicides, pesticides, fungicides, half-finished products related to fine chemicals, and preparatory chemicals. The company stresses that its offerings are highly efficient, low in toxicity, low in residue, and environment-friendly. Its core offerings are herbicides, while its pesticides and fungicides play more of an auxiliary role.
Fengshan Quannuo was established by Fengshan Group this August to set up production capacity for battery electrolytes. It has received the permit to develop an electrolyte plant with a total production capacity of 100,000 tons per year. According to the company’s own plan, the project will be developed in two phases, with each phase adding 50,000 tons. Besides building the electrolyte plant, Fengshan Quannuo will also be focusing on the development of products and process technologies. The purpose of the new entity is the production and sales of electrolytes for batteries related to new energy applications.
Zoolnasm was established in 2021 and possesses technological patents related to cathode materials used in high-efficiency Na-ion batteries. In particular, the company has developed an iron-based polyanion compound and a carbon-based compound for the battery cathode. It has also commercialized a hard carbon material for the battery anode. Together, its technologies are combined to create an NFS battery that can be used in large-scale energy storage systems, low-velocity equipment, etc.
Fengshan Group said the inking of the strategic cooperation agreement will allow both parties to leverage each other’s existing advantages and technologies within their respective fields. With this synergy, both parties will be able to rapidly grow their businesses and strengthen their positions in the market for new energy solutions. All in all, this move is in line with the company’s development strategy.
Fengshan Quannuo is a joint venture of Fengshan Group and Nantong Quannuo New Energy Material Technology. Its establishment was announced by Fengshan Group on August 11 this year. The registered capital of Fengshan Quannnou at the time of its formation was RMB 100 million, of which RMB 66 million (66%) was contributed by Fengshan Group and RMB 34 million (34%) was contributed by Quannuo.
Quannuo specializes in the development, manufacturing, and sales of electrolytes for batteries related to new energy applications. The company has cultivated a considerable presence in the industry chain for battery electrolytes. Moreover, it holds mature and leading-edge process technologies. However, Quannuo has yet to disclose the details about the schedule for the construction of Fengshang Quannuo’s electrolyte plant. Quannuo has also not publicly discussed the concrete effects of this project on its operation.
This article is a translation of a Chinese article posted by TrendForce. It contains information that is either sourced from other news outlets or accessible in the public domain. Some Chinese names are transcribed into English using Hanyu Pinyin.