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Grammy plans to invest again in the battery materials business

 Last Update: 2023-01-05
 Source: Internet
 Author: User

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【Chemical Machinery and Equipment Network Star Enterprise】On November 24, 2022, Grammy announced that it signed a memorandum of understanding
with South Korea's ECOPRO and SK ON to invest in a nickel resource HPAL joint venture in Indonesia.

It is reported that Grammy's move is to ensure the strategic demand for nickel resources for the company's battery materials business to expand its future production capacity, stabilize the core market in South Korea, build conditions to meet the implementation of the US IRA Act, promote entry into the US market, defend the company's market position in the global new energy battery materials field, and achieve the company's long-term goal
of 500,000 tons of precursor sales in 2026.

According to the announcement, the memorandum signed this time is a framework, intention and preliminary agreement on the willingness and basic principles of the three parties to further cooperation, and there is still uncertainty
due to relevant policy adjustments, macroeconomic impacts, changes in the market environment and other factors.
If the subsequent three parties sign a formal cooperation agreement, the company will strictly perform the review procedures in accordance with the requirements of laws and regulations, and fulfill the information disclosure obligation
in a timely manner.

It is understood that the main business of the two Korean companies is lithium secondary battery materials, environmental materials, chemical filter manufacturing and sales, and battery production and distribution
.
The three parties will establish a joint venture to build an HPAL plant in Morowali, Sulawesi, Indonesia, to produce MHP with an annual output of 30,000 gold tons of nickel, and to ensure the supply
of these precursor joint ventures at transparent and market-competitive prices.

Grammy said that the signing of this memorandum will effectively ensure the strategic demand for nickel resources for the company's battery materials business to expand its future production capacity, promote the company's nickel resources to reach more than 70% self-sufficiency rate in 2025, achieve 100% complete self-sufficiency after 2027, and ensure the realization of the company's long-term goal of 500,000 tons of precursor sales in 2026, which is an effective strategic measure to stabilize the core market in South Korea and enter the US market, which is conducive to stabilizing and enhancing the profitability of the company's core battery materials business.
It will comprehensively consolidate the company's core position in the global new energy materials industry and continuously enhance the company's influence in the whole industry chain of the global new energy industry, which is in line with the company's long-term development strategy and the interests of the
majority of investors.

In addition, the announcement also disclosed a number of framework agreements that Grammy is currently implementing:

The company signed the "Memorandum of Understanding (MOU) on the Supply of NCM8 Series and 9 Series of High Nickel Precursor Materials for Power Batteries" signed by the company and ECOPRO BM of South Korea;

Fuan Qingmei Energy Materials Co.
, Ltd.
, a subsidiary of the company, signed the "Memorandum of Understanding (MOU) for the Investment Agreement of Power Cells with High Nickel Precursor Materials of South Korea" signed with ECOPRO of South Korea;

The "ECOPRO&GEM High Nickel Precursors (NCA&NCM) Supply Memorandum (MOU) for 2021-2023" signed by the Company and ECOPRO BM of South Korea;

The Memorandum of Understanding on Directional Recycling of 10,000 Tons of Recycled Nickel Products signed by the Company and Huizhou EVE Lithium Energy Co.
, Ltd.
;

The "Strategic Cooperation Framework Agreement on the Construction of Waste Power Batteries and Green Treatment Industry Chain of Battery Waste" signed by the company and Funeng Technology (Ganzhou) Co.
, Ltd.
;

Jingmen Greenmei New Materials Co.
, Ltd.
, a subsidiary of the company, and Xiamen Xiamen Tungsten New Energy Materials Co.
, Ltd.
signed the "Framework Agreement on the Strategic Supply Cooperation Agreement between Ternary Precursors and Cobalt Tetroxide of Xiamen Tungsten New Energy Materials Co.
, Ltd.
and Jingmen Greenmei New Materials Co.
, Ltd.
";

The "Strategic Cooperation Framework Agreement on the Integration of Phosphorus Resources Chemical New Energy Materials Industry Chain" signed by the company and Xinyangfeng Agricultural Science and Technology Co.
, Ltd.
;

The "Rongbai Technology-Greenmei Strategic Cooperation Agreement" signed by the company and Ningbo Rongbai New Energy Technology Co.
, Ltd.
;

The "New Generation of Ternary Precursor Products Cooperation and Development Agreement" signed by the company and Xiamen Xiamen Tungsten New Energy Materials Co.
, Ltd.
;

The "Strategic Cooperation Agreement on Electrification and Battery Recycling in Construction Machinery" signed by the company and Sunward Intelligent Equipment Co.
, Ltd.
;

The "Strategic Cooperation Framework Agreement on Green Recycling of Power Batteries" signed by the company and Ruipulanjun Energy Co.
, Ltd.
;

The Memorandum of Understanding on Promoting Projects signed by the Company with the Pohang Municipal Government of South Korea and ECOPRO Co.
, Ltd.
in South Korea;

PT.
QMB NEW ENERGY MATERIALS AND PT.
HENGJAYA MINERALINDO SIGNED A STRATEGIC COOPERATION AGREEMENT ON THE CONSTRUCTION OF LATERITE NICKEL ORE RESOURCES AND MINERAL PROCESSING PLANT;

The "Wenzhou New Energy Battery Materials Low-carbon Industrial Park Project Investment Framework Agreement" and "Wenzhou Green Circular Economy Industrial Park Project Strategic Cooperation Framework Agreement" signed by the company with Zhejiang Weiming Environmental Protection Co.
, Ltd.
and Yongqing Technology Co.
, Ltd.
, Wenzhou Dongtou District People's Government and Wenzhou High-tech Industrial Development Zone Management Committee respectively;

MEMORANDUM OF UNDERSTANDING SIGNED BETWEEN THE COMPANY AND YAYASAN UPAYA INDONESIA DAMAI, INDONESIA;

The "Equipment Design, Manufacturing and Installation Agreement"
signed by Qingmeibang New Energy Materials Co.
, Ltd.
, a subsidiary of the company, and Weiming Environmental Protection Equipment Co.
, Ltd.

Disclaimer: The purpose of this site to publish this information is to disseminate more information, which has nothing to do with
the position of this site.
And solemnly remind all readers, the stock market is risky, investment needs to be cautious, this article is not used as a reference for any investment advice and basis
.

Hara: Stabilize the core market of South Korea and enter the US market! Grammy plans to invest again in the battery materials business

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