Yunnan Aluminum Partners With Phinergy To Set Up A Fuel Cell Company

Yunnan Aluminum Partners With Phinergy To Set Up A Fuel Cell Company

Yunnan Aluminum announced on the evening of February 27 that to promote the industrialization and marketization of its aluminum-air batteries, create a complete clean energy industry chain covering hydroelectric-aluminum, new energy and recycling and truly develop its green low-carbon hydroelectric-aluminum industry, the company plans to set up Yunnan Phinergy Chuang Neng Metal Air Battery Co., Ltd. in Kunming together with the Israeli Phinergy, which has the world's leading aluminum-air battery technology and new energy vehicle power battery industrialization technology and Shanghai Zuoyong New Energy Technology Co., Ltd., which has maintained a good partnership with Phinergy in China and has a flexible and efficient private operation mechanism. The joint venture will bring in Phinergy's world-leading aluminum-air battery technology and leverage Yunnan Aluminum's green and clean hydroelectric-aluminum resources, complete aluminum industry chain and extensive experience in the aluminum-air battery field to specialize in the R&D, production and sales of aluminum-air energy systems and supporting products and further develop the new energy battery industry. The joint venture has a registered capital of RMB 813.8153 million. The shareholding ratio of Yunnan Aluminum, Zuoyong New Energy Technology and Phinergy in the joint venture is 32%, 36% and 32% respectively.