China Sun Group High-Tech Co. Develops New Product 'Lithium Iron Phosphate'
December 05 2008 - 2:31PM
PR Newswire (US)
- Targets Growth in China's Electric Automobile Market - LIAONING
PROVINCE, China, Dec. 5 /PRNewswire/ -- China Sun Group High-Tech
Co. (OTC:CSGH) (BULLETIN BOARD: CSGH) ("China Sun Group") which,
through its wholly-owned subsidiary, Dalian Xinyang High-Tech
Development Co. Ltd ("DLX") has the second largest cobalt series
production capacity in the People's Republic of China ("PRC"),
today announced that after two years of research and development,
DLX has successfully developed a new product, lithium iron
phosphate, which is to be used as an anode material for the
production of the next generation of lithium ion (li-ion)
batteries. Currently, DLX is procuring and preparing the production
equipment of Lithium Iron Phosphate, and plans to set up two new
production lines with capacities of 500 tons per year to produce
it. DLX plans to introduce lithium iron phosphate to the global
electric automobile market at end of March 2009. "Lithium iron
phosphate is a necessary and essential material used to power
Li-ion batteries, and its application in the global Li-ion electric
automobile industry is a growing and inevitable trend," said Bin
Wang, CEO of China Sun Group. "The People's Republic of China is
now the second largest automobile market in the world. If China's
automobile industry maintains its current annual growth of 12%,
China will overtake the USA to become world largest automobile
market with 287 million automobiles, or constituting about 30% of
automobile sales worldwide by 2030. We are positioning ourselves to
meet anticipated global demand for lithium iron phosphate battery
components used to power electronic automobiles in China and other
developed nations." Wang continued, "Our studies show that China
currently uses nickel hydrogen batteries, lead-acid batteries and
others to power electric autos. Lithium cobalt oxide is still the
top choice to power electric automobiles, yet its application is
restricted by its high cost, limited resources for materials and
safety concerns. We believe that DLX's new Lithium Iron Phosphate
product can supplement the inevitable shortage in cobalt oxide
materials, while offering new environmentally safe, cost-effective
and power-efficient benefits." Key Advantages of DLX's Lithium Iron
Phosphate are highlighted below. 1. Safety. Lithium iron phosphate
is kept stable and safe at high temperatures of up to 400 ~ 500
degrees, which makes a battery made with lithium iron phosphate
much less likely to explode compared to those made of the lithium
cobalt oxide. 2. Ultra-long battery life with a high frequency of
recycling. At room temperature, the battery made of lithium iron
phosphate has 1,500 to 2000 times charge-discharge recycling. After
the 1,500 to 2000 times charge-discharge recycling, its capacity
will run at over 95% of the full capacity, which is four times that
of lithium cobalt oxide batteries. 3. Non-toxic and Pollution-Free.
The lithium iron phosphate battery contains no heavy metals or rare
metals, is non-toxic and pollution-free, and is in compliance with
all European ROHS requirements. 4. Low Cost, Higher Margins.
Sources of raw material to make lithium iron phosphate are
extremely rich and inexpensive in China. The actual cost of the
materials is one-fourth the cost of cobalt, and profit margins are
twice as high compared to cobalt oxide. In September 2008, DLX
completed trial production of lithium iron phosphate and
successfully met the technical requirements of application after
being tested by a PRC state authority. In November 2008, the China
Brand Promoting Authority accredited DLX's "Tong Tong" brand
lithium iron phosphate with the titles "Priority Choice of
Government Procurement" and "Key Promoting Product of High-Tech
Industry." About China Sun Group China Sun Group High-Tech Co.,
("China Sun Group") produces anode materials used in lithium ion
batteries. Through its wholly-owned operating subsidiary, Dalian
Xinyang High-Tech Development Co. Ltd ("DLX"), the Company
primarily produces cobaltosic oxide and lithium cobalt oxide.
According to the China Battery Industry Association, DLX has the
second largest cobalt series production capacity in the People's
Republic of China. Through its research and development division,
DLX owns a proprietary series of nanometer technologies that supply
state-of-the-art components for advanced lithium ion batteries.
Leveraging its state-of-the-art technology, high-quality product
line and scalable production capacity, the Company plans to create
a fully integrated supply chain from the primary manufacturing of
cobalt ore to finished products, including lithium ion batteries.
For more information, visit http://www.china-sun.cn/. Safe Harbor
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Exchange Commission available at http://www.sec.gov/. DATASOURCE:
China Sun Group High-Tech Co. CONTACT: China Sun Group, Thomas
Yang, Assistant to the President, +1-917-432-9350, U.S., or
+86-411-8288-9800, China, Fax, +86-411-8289-2739, Web Site:
http://www.china-sun.cn/
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