Tantech to Make EDLC Carbon-Based Al Batteries
Tantech Holdings Ltd. today announced that it has entered into a strategic cooperation agreement with Zhejiang EGE Battery Manufacturing Co., Ltd. (EGE) to jointly develop, market, and sell carbon-based aluminum (Al) batteries (the "Battery"). The Battery, using Tantech's Electric Double-Layer Capacitor (EDLC) carbon material for the cathode, is expected to offer a safe, easy-charging, long-lasting and eco-friendly alternative to many commercial batteries in wide use today.
Trial production is expected to commence later this month with Tantech initially providing 10,000 units per month of EDLC carbon electrode material and ramping up to 20,000 units per month by the first half of 2016. The Battery can be used in a wide range of applications, such as solar/wind power storage systems for home and business, forklifts, electric garbage trucks, etc., and is expected to generate more than $10 million in sales for Tantech in 2016.
Mr. Zhengyu Wang, Chairman and Chief Executive Officer of Tantech, commented, "We are thrilled to partner with EGE, a major player with over a decade of success in providing battery solutions to a wide range of industries. Since 2011, EDLC carbon has been one of the fastest growing business segments for us with sales exceeding RMB 53 million in 2014. The Agreement, which allows for an effective combination of our strength in EDLC carbon electrode material and our recently launched capacitor battery R&D center led by renowned battery experts, Yuxun Yang, Limin Wang, and Yaoming Wu, with EGE's expertise in battery assembly and global distribution network, provides us a clear and easy path to quickly expand along the battery value chain and potentially another leg of growth in coming years."
Mr. Jianmin Chen, Chairman and Chief Executive Officer of EGE added, "The joint effort creates a win-win situation for both parties as we share similar visions for the Chinese battery market. We are positioning the battery as an upgrade or replacement for our mainstream Lead Acid batteries that we currently sell in a wide range of applications globally with Siemens AG, BT Group plc, and Emerson Electric Company among our major customers. We look forward to a mutually beneficially relationship with Tantech in coming years."