On January 17, 2024, Vanadium & Titanium Co., Ltd. (SZ.000629) announced that the company’s wholly-owned subsidiary Pangang Group Chengdu Vanadium & Titanium Resources Development Co., Ltd. (hereinafter referred to as “Chengdu Vanadium & Titanium Trading”) and Dalian Rongke in Chengdu, Sichuan Province signed the “2024 Vanadium Energy Storage Raw Materials Cooperation Annual Framework Agreement”. In order to achieve a more comprehensive, long-term and stable win-win cooperation, after friendly consultations, both parties reached a consensus on cooperation in 2024 and signed an agreement.
1. Agreement period: January 1, 2024 to December 31, 2024.
2. Cooperation model: The two parties adopt a cooperation model for the purchase and sale of ammonium polyvanadate raw materials. Vanadium & Titanium Co., Ltd. promises to give priority to ensuring the balanced supply of products of Rongke Group and ensuring the production needs of Rongke Group. Rongke Group promises that all raw materials will be used in the field of vanadium energy storage, using Vanadium & Titanium Co., Ltd. as its main supply channel. The required raw materials will be purchased from Vanadium & Titanium Co., Ltd. firstly and stably.
3. Annual total quantity: 16,000 tons of vanadium pentoxide, with an excess of ±10%. (This quantity does not include the raw materials required for the vanadium energy storage joint venture established by the company and Party B and other special major energy storage projects)
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