Galaxy Resouces Ltd is positioning to become a leading vertically-integrated producer of high quality lithium-related products in the growing lithium-ion battery market. Galaxy is seeking a strategic and cornerstone joint venture partner to proceed with the construction and development of its Lithium-ion Battery Project in Zhangjiagang, Jiangsu Province, China. The Plant would add to the Company's existing Lithium Carbonate Operations, also in Zhangjiagang.
Artist Impression of Galaxy's Battery Plant, Jiangsu, China
The Jiangsu Lithium Carbonate Operations has a production capacity of 17,000 tpa of lithium carbonate and capability to produce high purity (99.9%) 'EV Grade' lithium carbonate. The Jiangsu Plant is the largest-capacity battery grade lithium carbonate plant in the Asia Pacific region. Galaxy is primarily targeting the battery materials sector, and has successfully completed offtake framework agreements for 100% of its production with Mitsubishi Corporation of Japan, and 13 major cathode producers in China.
Galaxy's Battery Division is advancing plans to build a Lithium-Ion Battery Plant in Jiangsu, near to the existing lithium carbonate facility. Proposed Phase 1 production is 620,000 battery packs per year primarily for the e-bike market. Lithium-ion batteries have superior energy density, and are more efficient and environmentally friendly than traditional acid batteries. Originally used in computing and mobile communications, lithium-ion batteries are being increasingly used to power electric (e-bikes), vehicles, and mass energy storage systems.
Galaxy will initially target the e-bike market in China.
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