Leading salt company extend soda ash industry chain to cut into sodium ion industry

Leading salt company extend soda ash industry chain to cut into sodium ion industry

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HNSC extends the sodium battery industry chain

On November 25, 2022, HNSC issued an announcement that the company and its controlling shareholder Hunan Salt Industry Group, Hunan Light Salt Shengfu, a wholly-owned subsidiary of Hunan Salt Industry Group, planned to hold Meite New Material, a wholly-owned subsidiary of Hunan Non Ferrous Academy Sinica, through “agreement transfer+capital increase and share expansion”.

Hunan Non Ferrous Academia Sinica transferred 30% of Meite New Material’s equity to Hunan Salt Industry Group at a valuation of 245 million RMB, with the transfer amount of 73.5182 million RMB.

At the same time, Hunan Salt Industry Group, HNSC and Hunan Light Salt Shengfu respectively increased their capital by 161 million RMB, 114 million RMB and 51462700 RMB (tentative) based on the valuation of 245 million RMB before the capital increase of Meite New Material.

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The total capital increase does not exceed 327 million RMB. After the capital increase, Meite New Material has a total valuation of 571.8 million RMB and a registered capital of 163 million RMB.

After the capital increase, Hunan Salt Industry Group will hold 41% equity of Meite New Material, HNSC will hold 20% equity of Meite New Material, and Hunan Light Salt Shengfu will hold no more than 9% equity of Meite New Material. This transaction is the need to extend HNSC’s soda ash industry chain and improve product added value.

By extending the industrial chain of soda ash battery grade soda ash sodium battery cathode materials, entering a relatively fast growing emerging industry can improve the added value and market competitiveness of soda ash products. Meite New Material is an industrial development platform needed to extend to the positive material industry of sodium battery.

Founded on December 16, 2011, HNSC is the first modern joint-stock company in China’s salt industry that integrates production and marketing and is a trans provincial joint venture. Since its establishment, the company has focused on the production and sales of salt and salt chemical products.

On March 26, 2018, the company was successfully listed on the Shanghai Stock Exchange, becoming the first share of the salt industry since the implementation of the new policy of salt reform. Meite New Material has strong product technology advantages and has independently developed a number of major products in the market.

Since 2021, the price of lithium carbonate has continued to rise, hitting a record high of 590000 RMB/ton on November 11. However, after November 23, its price fell continuously. On November 28, data showed that battery grade lithium carbonate fell 2500 RMB/ton, but the average price was still 584000 RMB/ton.

Sodium ion battery has become a popular choice for industry investment

In this context, compared with lithium ion batteries, sodium ion batteries, which have more advantages in safety, cost and other aspects, have become another popular choice for industry investment.

It is expected that the sodium battery technology and material system will be basically finalized by the end of this year. 2023 will be the first year of sodium battery industrialization, which is expected to achieve small batch shipment, and 2024 will achieve mass production, which is expected to reach 30GWh.

Many companies have entered the field of sodium ion battery

Many companies have entered the field of sodium ion battery. On July 29, 2021, the first generation of CATL sodium ion battery was officially introduced to the outside world, and it is expected to realize industrialization in 2023. On November 16, 2022, several listed companies disclosed their latest progress in the sodium ion battery industry chain:

HIFICHEM said in the announcement that the company and Malion planned to jointly invest in the establishment of Meicai New Material, and invested 2.5 billion RMB to build a battery grade Prussian blue (white) project with an annual output of 180000 tons with the target company as the implementation subject.

On the same day, Fengshan Group announced that its holding subsidiary Fengshan Quannuo New Energy had signed a cooperation agreement with Zoolnasm, and the two sides planned to jointly promote the commercial application of sodium ion secondary batteries.

Tongxing Environmental Protection also disclosed in the information released on the same day that after signing the cooperation agreement with the University of Science and Technology of China, the company has paid 15 million RMB for the first annual agreement according to the agreement.

The joint laboratory is carrying out pilot scale up experiments on sodium ion battery cathode materials and battery products. The pilot production line has entered the procurement stage, and the relevant supporting talents required for the experiment have been partially in place.

The mass production of the company’s sodium ion battery related products is now in the planning stage. At present, it has been connected with the relevant institutions and the government on the mass production design scheme and industrial site selection.

Many companies have entered the field of sodium ion batteryIn September of this year, Tongxing Environmental Protection and the University of Science and Technology of China signed a cooperation agreement to jointly establish a joint laboratory for energy storage battery materials and devices.

According to the overall research goal of the joint laboratory, the company’s two-year research goal for the cycle life of high-performance sodium ion batteries is not less than 5000 times, and the five-year research goal is not less than 10000 times.

In addition, on November 18, Farasis expected to achieve mass production of sodium ion batteries in 2023; On November 23, DFD said that the company’s sodium ion batteries had been finished in small batches, and it was actively engaged with prospective downstream customers to accelerate the large-scale production of sodium ion batteries.

Besides, HUAYANG, NATRIUM, Transimage and other companies also have sodium ion battery layout. Leading companies such as CATL and HiNa Battery have increased the size of the sodium ion battery industry chain, and the industrialization of sodium ion batteries is expected to accelerate.

Sodium ion battery has the advantages of low cost, good low-temperature performance and safety performance, and high charging rate. It can be widely used in energy storage, low-speed electric vehicles and other fields, with broad development space. With policy support and the trend of future energy transformation and development, sodium power has huge incremental space.

Sodium battery technology is still in the stage of exploration and research

HNSC also issued a supplementary and correction announcement, indicating that Meite New Material’s current main business scope is the production, sales and development of lithium-ion battery materials.

At present, the products are mainly applicable to the field of consumer electronic products, and do not involve the production of new energy batteries for automobiles and the production technology related to sodium free batteries.

In addition, the current sodium battery technology is still in the stage of exploration and research. There are no specific research results and mature technologies in the industry at present. Large scale industrialization still needs time. Whether commercial achievements can be formed in the future is uncertain.

In a word, every new battery technology needs a process to be recognized, including lithium battery and sodium ion battery. We look forward to the emergence of batteries that are truly suitable for the market!

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