Pangang Vanadium & Titanium Signed A Strategic Cooperation Agreement With Dalian Borong
On September 11, PANGANG Vanadium & Titanium (SZ: 000629) announced that the company signed a strategic cooperation agreement WITH Dalian Borong New Materials Co., Ltd. on September 10, 2021. Both parties have reached strategic cooperation intention in terms of products and services, production cooperation, platform building, market expansion, technical cooperation and capital cooperation.
1. Product and service cooperation: According to the balance of production resources and the needs of Dalian Borong vanadium energy storage project, the company can give priority to provide vanadium products to Dalian Borong. According to the production situation and the needs of Party A’s vanadium energy storage project, Dalian Borong can give priority to PANGANG Vanadium & Titanium services such as vanadium electrolyte, vanadium battery energy storage system and other services. According to the supply mode negotiated by both parties, preferential treatments such as preferential prices and priority scheduling are given to each other.
2. Production cooperation: According to the development status of the energy storage industry, the two parties negotiated a joint investment to build a vanadium electrolyte factory and gradually expand the scale of the vanadium battery industry. In the later stage, according to the growth of the energy storage market, the two parties will start cooperation in the production of vanadium battery energy storage equipment at an appropriate time, and the production capacity will match the production capacity of vanadium electrolyte.
3. Platform construction: Based on the recyclable properties of vanadium electrolyte, in order to effectively reduce the comprehensive cost of all-vanadium redox flow battery energy storage, the two parties rely on their respective advantages and cooperate with related parties to build a shared platform to jointly promote the commercialization of the vanadium battery energy storage industry process.
4. Market expansion: Both parties give full play to their respective advantages and influences, jointly expand the vanadium battery energy storage market, and promote the engineering demonstration and application of vanadium batteries in the steel industry to reduce carbon consumption and consumption, new energy power generation and grid peak shaving services, etc. Improve the market influence and competitiveness of vanadium battery energy storage.
5. Technical cooperation: The two parties can jointly establish an industrial technology alliance, and through various cooperation methods, joint research on key technologies in the vanadium industry including vanadium batteries and high-purity vanadium, accelerate technological breakthroughs and achievement transformation, and jointly promote the high-quality development of the vanadium industry .
6. Capital cooperation: According to the development progress of the cooperation between the two parties and the growth trend of the market, PANGANG Vanadium & Titanium can strengthen in-depth cooperation with Dalian Borong through equity investment and other means, and jointly promote the cooperation between the two parties in the capital market.
PANGANG Vanadium & Titanium stated that the signing of the strategic agreement with Dalian Borong is in line with the company’s development strategy. It is a measure to implement the national “carbon peak and carbon neutral” policy and promote the development of new industries. Advantages and synergistic effects are of positive significance for the company to expand the application fields of vanadium products and further improve and strengthen the vanadium industry.
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