Pangang Group Vanadium & Titanium Establishes Joint Venture Company To Construct Electrolyte Production Line

On October 11, Pangang Group Vanadium & Titanium Resources Co., Ltd. announced that, the company and Dalian Rongke Power recently signed a joint venture agreement, under which the two sides decided to jointly invest RMB31.61 million (USD4.41 million) to establish a joint venture company, with the former’s investment accounting for 51% of the registered capital and the latter’s to account for 49%. As the first phase of project, the joint venture company will build an electrolyte production line in Panzhihua within 2022, with its annual production capacity to reach 2,000 m3. And in the second phase, i.e. from 2023 to 2024, the two sides shall negotiate to invest in the construction of vanadium electrolyte production line with an annual production capacity of 60,000 m3. according to the growth situation of the vanadium battery energy storage market.