Hengtron Secures B-Round Financing for LMFP Production Expansion in Yinchuan, Ningxia
Jiangsu Hengtron Nanotech Co., Ltd. has closed a B-round financing worth hundreds of millions of yuan, primarily to expand capacity for lithium manganese iron phosphate (LMFP) cathode materials. The investment will support a new production line in Yinchuan, targeting an annual capacity of 130,000 tons, with an immediate focus on a 30,000-ton phase. Concurrently, Hengtron will increase capacity in Yancheng by 20,000 tons. This expansion positions Hengtron to enhance its market presence and support the commercialization of LMFP technology in the battery sector.
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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.
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