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Jiangsu Hengtron Nanotech Co., Ltd. has secured a B-round financing of hundreds of millions of yuan to expand its lithium manganese iron phosphate (LMFP) cathode materials production. The investment, led by the Yinchuan Yucheng Phoenix Sci-Tech Innovation Fund, focuses on a new production line in Yinchuan, aiming for an annual capacity of 130,000 tons, starting with a 30,000-ton phase.

Simultaneously, Hengtron plans to enhance its Yancheng facility by 20,000 tons. This expansion enhances the company's market position and supports the growth of LMFP technology in the battery industry, aligning with increasing demand for electric vehicle applications.