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Shares of Fengshan Group surged to the daily trading maximum after announcing a partnership with a research team from a top Chinese university to develop solid-state electrolytes and sodium-ion battery electrolytes.
The company closed up 10%, reaching CNY16.03 (approximately $2.25) on the Shanghai Stock Exchange.
Fengshan plans to contribute CNY2 million (around $281,220) in research funding to the State Key Laboratory of Chemical Engineering and Low-Carbon Technology at the university, focusing on creating polymer solid electrolytes for solid-state batteries, electrolyte solutions for high-energy-density sodium batteries, and advancing their industrial production processes.
Primarily known as a chemical company specializing in pesticide development and supply, Fengshan has gradually expanded into the battery electrolyte and new material markets in recent years.
The company has completed and put into operation the first phase of its 100,000-ton battery electrolyte manufacturing project. Additionally, it has begun research into semi-solid-state battery electrolytes, according to its recent financial report.
Solid-state batteries have notable advantages over traditional power batteries, including improved safety, greater energy density, longer lifespan, and a more compact design. However, they have yet to reach large-scale mass production.
Although sodium-ion batteries typically offer lower energy density compared to lithium-ion batteries, they are less expensive to produce and safer, making them suitable for energy storage applications where high energy density isn’t critical.
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