A worker operates on a production line at a lithium battery factory in Tangshan, north China's Hebei Province, Nov. 29, 2020.(Xinhua/Yang Shiyao)
BEIJING, July 14 (Xinhua)-- Anhui Zhonghuan Environmental Protection Technology Co., Ltd. (300692.SZ) has recently announced that it plans to invest 12 million U.S.dollars to purchase 27.3514 million Series B preferred shares issued by Proof Energy, Inc., a company registered in Delaware, the United States,reported China Securities Journal Tuesday.
After the acquisition, the company will hold 22.16 percent of the stake of Proof Energy, Inc..
According to the announcement, the two parties also agreed to establish two joint ventures in Hefei, east China's Anhui Province for the production and sales of Proof Energy, Inc.'s Clear Therm catalytic heaters and Metallic Solid Oxide Fuel Cell (M-SOFC) systems and core components. The joint ventures will be the sole manufacturers of the above-mentioned products in China.
By cooperating with the Lawrence Berkeley National Laboratory in the United States, Proof Energy, Inc. focuses on in-depth research and development(R&D)and commercialization of M-SOFC technology, with the aim to provide users with power batteries boasting higher energy density, stronger endurance, lighter weight, lower cost and adaptability to changeable climate environment.
It also focuses on in-depth R&D on materials, structural design, manufacturing technology and process, system optimization and system management required for the commercialization of M-SOFC.
(Edited by Zhang Yao, Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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