China Sun Group High-Tech Co. Successfully Completes Testing on New Battery Anode Product
March 17 2009 - 8:30AM
PR Newswire (US)
- Full Production of Lithium Iron Phosphate to Commence in April
2009 - LIAONING PROVINCE, China, March 17 /PRNewswire-FirstCall/ --
China Sun Group High-Tech Co. (OTC 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 its in-house R&D, engineering and
technical team has successfully completed testing on DLX's latest
energy power battery anode material, lithium iron phosphate. Bin
Wang, CEO of China Sun Group, said, "DLX was pleased to have
cooperated with three major domestic power battery production
companies, two from Shenzhen and the other from Changxing, Zhejiang
province, on this project. We are currently testing the stability
and cycle curve of the battery, and are procuring the raw material
to begin operations. We believe we are on schedule to commence full
scale production of lithium iron phosphate in early April 2009."
Wang added, "We believe an immediate market opportunity exists for
the lithium iron phosphate product to be used as an electrode
material in automotive lithium-ion batteries. We believe that the
safety, economical and environmental benefits of this new product,
as compared to the lithium cobalt oxide, can provide DLX with a
competitive advantage to achieve continuous growth within a
challenging economic environment." DLX previously announced that in
September 2008, it had 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" branded 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 Statement The statements
contained herein that are not historical facts are considered
"forward-looking statements." Such forward-looking statements may
be identified by, among other things, the use of forward-looking
terminology such as "believes," "expects," "may," "will," "should,"
or "anticipates" or the negative thereof or other variations
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actual results to differ from those expressed or implied by any
forward-looking statements. The factors discussed herein are
expressed from time to time in our filings with the Securities and
Exchange Commission available at http://www.sec.gov/. Contact:
China Sun Group Thomas Yang Assistant to the President Tel:
917-432-9350 (U.S.) or 86 411 8289-7752 (China) Fax: 86 411
8289-2739 e-mail: DATASOURCE: China Sun Group High-Tech Co.
CONTACT: Thomas Yang, Assistant to the President, of China Sun
Group, +1-917-432-9350 (U.S.), +86-411-8289-7752 (China), Fax:
+86-411-8289-2739, Web Site: http://www.china-sun.cn/
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