Lithium iron phosphate investment continues to increase, and the planned output is nearly one million tons since October
Defang Nano, Longpan Technology, Batian Co., Ltd., Huayou Cobalt Industry... The layout of many listed companies in the field of lithium iron phosphate has been "sweeping the screen" recently, and the investment enthusiasm has continued the trend in the first three quarters of 2021. After sorting out, it is found that since October, the planned annual output of lithium iron phosphate projects announced by listed companies has totaled nearly 1 million tons, far exceeding the actual output in 2020.
Expansion of high-performance new materials, overseas investment in lithium iron phosphate projects - In the process of investment and expansion of lithium iron phosphate projects by listed companies, in addition to industrial chain extension, strong cooperation and other models, new trends in industrial chain and geographical layout have emerged. Features.
Technological expansion of phosphate-based materials accelerates
On the evening of the 10th, Defang Nano, a leading lithium iron phosphate company, announced that the company plans to issue no more than 26.768 million A shares to specific objects, and the total amount of funds raised is expected to be no more than 3.2 billion yuan. After deducting the issuance expenses, the funds raised from this issuance will be used for the production base project of new phosphate-based cathode materials with an annual output of 110,000 tons and to supplement working capital.
Compared with the total output of 100,000 tons disclosed at the beginning, Defang Nano has slightly increased the output of new phosphate-based cathode materials by 10,000 tons to 110,000 tons. According to the announcement, the construction site of the project is located in Qujing City, Yunnan Province.
In the competitive landscape where many listed companies have deployed lithium iron phosphate and lithium ion battery upstream and downstream companies through the phosphorus chemical industry chain to jointly develop cathode materials, and the industry leader Hunan Yuneng seeks to be listed, Defang Nano has chosen to "better" lithium iron phosphate materials. further". Defang Nano said that the phosphate-based cathode material industry has high technical barriers, and the constantly optimized and updated product production process and huge R&D investment make it difficult for new entrants to form competitiveness.
Industry insiders analyzed that the new phosphate-based cathode material is lithium manganese iron phosphate material, which has the characteristics of high voltage platform and high gram capacity. Under the condition that the cost of single GWH is basically unchanged, Defang Nano has solved its original cycle times. and security "short board".
Defang Nano said that the new material can significantly improve the energy density of the battery, and retain the advantages of high safety and low cost. This fixed increase can advance the layout of the new phosphate-based cathode material market and enhance its market position in the cathode material field.
The company revealed that at present, the new phosphate-based cathode material product has passed the pilot test, and has initially invested in the construction of a research and development pilot line. The product has passed the small batch verification of key downstream customers and has been highly recognized by customers.
Defang Nano also reminded the digestibility of its downstream customers: the company's important customer, CATL, plans to raise funds of no more than 58.2 billion yuan in August to invest in the R&D and expansion plans of lithium-ion batteries, with a total output of 137GWH of new lithium-ion batteries; important Client Yiwei Lithium Energy and its subsidiaries plan to invest in the construction of a new energy power storage battery industrial park with an annual output of 104.5GWH.
Investing in overseas lithium iron phosphate projects is expected to break through
Earlier, Longpan Technology, another lithium iron phosphate head company, announced that Changzhou Liyuan, a holding subsidiary of the company, plans to establish a joint venture with investment institution STELLARINVESTMENTPTE.LTD. (hereinafter referred to as "STELLAR") in Indonesia. In the Morowali Industrial Park, Morowali County, Weixi Province, the company invested in the development and construction of a cathode material project with an annual output of 100,000 tons of lithium iron phosphate. The total investment of the project is about 235 million US dollars, and Changzhou Liyuan holds a 70% stake in the joint venture.
Longpan Technology said that the investment project products involved in the investment contract are mainly the company's strategic layout based on future development, expanding the industrial scale and meeting the overseas market demand of international battery companies, thereby promoting the company's steady development and continuously improving the company's comprehensive Competitiveness.
Caixin Securities believes that the high volume of energy storage batteries and the installed capacity of overseas power lithium-ion batteries will be an important driving force for the demand for lithium iron phosphate batteries. It is expected that by 2025, the demand for lithium iron phosphate will reach 2.16 million tons.
The expansion pace of Longpan Technology does not stop there. In 2021, Longpan Technology announced a number of expansion plans related to lithium iron phosphate. In April, Changzhou Lithium announced the acquisition of 100% stakes in Betri (Tianjin) and Betri (Jiangsu); in August, Changzhou Lithium Yuan intends to establish a joint venture with Xinyangfeng to invest in a lithium iron phosphate project with an annual output of 50,000 tons.
Longpan Technology's aggressive expansion and the viability of its overseas projects have drawn regulatory attention. In the inquiry letter, the Shanghai Stock Exchange required Longpan Technology to "explain the necessity of continuous foreign investment and construction related production in combination with the company's current production of lithium iron phosphate cathode materials, projects under construction, production line operating rate, and product orders."
"The local related mineral resources are relatively rich." The relevant person in charge of Longpan Technology said that the company chose to deploy in Indonesia, fully considering the low cost of various production factors, which can meet the increasing downstream international customers to a certain extent. want.
Shengxin Lithium Energy announced to cooperate with STELLAR to invest US$350 million in Morowali Industrial Park, Morowali County, Central Sulawesi Province, including projects with an annual output of 50,000 tons of lithium hydroxide and 10,000 tons of lithium carbonate; Yiwei Lithium Energy and Huayou International are building a laterite nickel hydrometallurgical smelting project in Indonesia; Ningde Times Indonesia battery plant is expected to be put into operation in 2024.
The doubling of the output of the lithium iron phosphate industry has drawn the industry's attention to excess production. The 21st Century Capital Research Institute believes that lithium iron phosphate will still be in a tight balance between supply and demand in 2022, and the timing of excess production will depend on the rhythm of supply-side production release. In addition, the construction period of the lithium iron phosphate project is generally 1 year to 1.5 years, and the new output of investment may appear in 2022 and 2023.
