SMM November 14 News,
October 2024 Market Overview: The sodium battery industry is accelerating its development and rapidly rising. Polyanion NFPP and NFS technologies are advancing side by side, bringing numerous benefits. Companies are promoting the market through discounts on sodium battery cells and launching new products, especially CATL's release of the Xiaoyao AB sodium battery, which has significantly boosted the market. In October alone, the total investment in ongoing sodium battery projects exceeded 17 billion yuan, demonstrating the strong momentum of the industry's development.
In October 2024, the sodium battery market performed well, with increased shipments, especially for NFPP cathode active materials, which were in short supply. On the price side, prices declined, aligning with lower costs.
In October, there were more than 20 sodium battery projects across various regions, with a total investment exceeding 17 billion yuan, up 30% MoM. These projects mainly involved sodium battery cells and sodium battery cathodes.
In Q3 2024, various material prices continued to decline. Sodium-ion batteries actively sought cost optimization and performance improvement in the new energy market to accelerate marketization. With the rapid development of the sodium battery industry, the coordinated progress of the upstream and downstream industry chain also accelerated.
Currently, the sodium battery market is highly active. Among them, NFS cathode active materials are highly notable. Lepu Company established a formal cooperation with Tianna, while Jiana is intensively debugging its 10,000 mt NFPP production line equipment. Meanwhile, Pangu Sodium Battery added several new partners on its second anniversary, Huna made breakthroughs in the field of sodium batteries for ships, and Zhongna Energy signed a supply and sales agreement for 50,000 light electric vehicles. Additionally, Huayang Sodium Battery's coal mine emergency power supply successfully passed provincial-level evaluation, marking another significant progress.
October Production: Sodium battery cathode and sodium battery cell production increased, while sodium battery anode production remained stable.
1. Cathode Active Materials
In the field of sodium battery cathode active materials, leading companies such as Zhongke Haina, Xiangying, Wanrun, Jiana, Ronbay, and Zhongna continued to maintain high production and sales volumes in three main directions and six sub-products, up nearly 5% MoM. With the continuous increase in domestic and international market demand, production in November is expected to further rise, up 10% MoM.
2. Hard Carbon Anode Materials
In the field of hard carbon anode materials, the production of hard carbon anodes increased significantly, up 22% MoM, but still faced challenges in improving energy density and reducing costs. Production is expected to continue growing in November, up 3% MoM.
In the domestic market, brands such as Baisige, BTR, Zhongke Haina, and Rongna performed well in the production and sales of hard carbon anode products.
3. Sodium Battery Electrolyte
Sodium battery electrolyte increased 8% MoM in October. In November, the production of sodium battery cells is expected to continue increasing, up 6% MoM. Companies such as Saiwei, Tinci, Kunlun, Langu, Nachuang, Fengshan, and Jinhui had varying shipment volumes of sodium battery electrolyte.
4. Sodium Battery Cells (Sodium-ion Batteries, Sodium Batteries)
Zhongke Hina and Weike Technology showed some weakening in large energy storage demonstration projects but remained the top two in the sodium battery industry. In the new energy battery field, CATL's new Xiaoyao battery launch had a lower market impact compared to BYD, which had faster progress. CATL's earlier appearance requires continued attention in the future market. Meanwhile, many companies had significant shipments in the start-stop market, especially traditional lead-acid battery companies.
October production increased 30% MoM. In November, the production of sodium battery cells is expected to continue increasing, up 12% MoM, with continuous deliveries of domestic and international energy storage projects.Overall, in Q4 2024, the market continues to grow, technology achieves breakthroughs, and multiple projects are successfully implemented. However, the current market progress is accelerating. This pace is expected to continue until year-end.
October Sodium-ion Battery Industry Market Dynamics (Partial)
[Sodium-ion Battery: Zhongna NFS Sodium-ion Battery 4-Year 200 Million Yuan Order] On October 30, 2024, Zhongna Energy recently announced that it successfully obtained a nomination letter for sodium-ion batteries from a leading international automotive parts company, officially becoming its supplier in the sodium-ion battery product field. According to the customer's plan, this project will last for four years, with a total procurement amount expected to reach 200 million yuan, and large-scale procurement is expected to begin in H1 2025.
[Sodium-ion Battery: Jueshi 5GWh Sodium-ion Battery Manufacturing Project Commences Construction] On October 30, 2024, Ganzhou officially launched the Jueshi 5GWh sodium-ion battery manufacturing project. The total investment budget for the project is 1 billion yuan, with 500 million yuan expected to be invested by 2025. The project will be constructed in two phases, with a capacity of 2GWh in the first phase and 3GWh in the second phase, mainly including the production and assembly of battery cells and PACK. Once completed and put into production, the project is expected to achieve an annual capacity of 6.5 million battery cells.
[Sodium-ion Battery: 361 Million Yuan Sodium-ion Battery Project Approval] On October 28, 2024, Jujiang Power Technology Co., Ltd. obtained the engineering planning permit for the construction of a new energy vehicle low-voltage sodium-ion battery and lithium battery intelligent manufacturing project in Xishanwang Village, Youbu Town, Lanxi City, Jinhua, Zhejiang Province. The total investment of the project is 361 million yuan, including a fixed asset investment of 211 million yuan, with 100 million yuan for civil construction and 72 million yuan for equipment procurement. The project plan includes the procurement of 2 battery separator machines, 4 PACK production lines, 220 aging charge/discharge machines, 2 packaging lines, an 8,700 m² intelligent three-dimensional warehouse, and 2 air compressors, as well as related intelligent software systems.
[Sodium-ion Battery: Yangguang and Bifeida Sodium-ion Battery Project Signing] On October 27, 2024, Nanjing Bifeida New Energy Technology Co., Ltd. and Yangguang Technology officially signed a strategic cooperation agreement in Changshu, Jiangsu. This marks Nanjing Bifeida as the first strategic partner welcomed by Yangguang Technology's Changshu R&D center.
[Sodium-ion Battery Cathode: Vastna 10,000 mt Sodium-ion Battery Cathode Project Commences Construction in Binhaigang] On October 28, 2024, Jiangsu Vastna started the construction of its 10,000 mt/year sodium-ion battery cathode active materials project in the Zero Carbon Industrial Park in Binhaigang. The project includes the construction of a 10,000 mt/year sodium-ion battery cathode active materials production facility and an R&D center, with a total investment of 375 million yuan. The company will rent an 8,095 m² plant for production and a 1,395 m² site for the R&D center within the park. Once completed and put into production, the project is expected to achieve an annual output value of 500 million yuan. On September 24, 2024, Zhejiang Vastna Technology Co., Ltd. held a signing ceremony for the investment of 375 million yuan in a 10,000 mt/year sodium-ion battery cathode active materials plant and R&D center in Binhaigang, Binhai County, Yancheng, Jiangsu. Investment ratio: The layered oxide O3 phase materials and polyanion NFPP materials in the project will be invested in a 1:1 ratio to optimize production processes and material performance.
[Sodium-ion Battery Hard Carbon Anode: Chilwee Hunan Xiangtan Sodium-ion Battery Hard Carbon Anode Materials R&D Pilot Project Environmental Assessment] On September 25, 2024, Hunan Chilwee New Energy Co., Ltd.'s annual production of 50 mt sodium-ion battery hard carbon anode materials R&D pilot project environmental assessment was conducted in Heling Town, Yuhu District, Xiangtan City. The project involves an investment of 120 million yuan to build an annual production of 50 mt sodium-ion battery hard carbon anode materials R&D pilot project. This project belongs to the pilot production project of electronic special materials. [On December 28, 2023, Hunan Chilwee New Energy Co., Ltd.'s annual production of 30,000 mt sodium-ion battery materials industrialisation project officially settled in Xiangtan High-tech Zone, Yuhu District. The project is invested by Chilwee Group, one of China's top 500 enterprises, with technical support from Professor Xianyou Wang's team at Xiangtan University. Vice President Fei Ge was invited to attend the signing ceremony. The annual production of 30,000 mt sodium-ion battery materials project aims to address the current bottleneck in the industrialisation of sodium-ion battery anode materials, utilizing the research results of Professor Xianyou Wang's team for industrial application. The project will be constructed in two phases, covering an area of about 300 acres, with a total investment of about 2 billion yuan.]
[Sodium-ion Battery: Cubic 5MWh Sodium-ion Battery Demonstration Project Fully Delivered] On October 31, 2024, Cubic's latest large-capacity energy storage sodium-ion blade battery J7N0700-S01 began mass shipment. By the end of October, Cubic New Energy successfully completed the full delivery of the 5MWh sodium-ion battery demonstration project, marking another major leap in the company's production and delivery capabilities of sodium-ion battery products. The J7N0700-S01 is Cubic New Energy's latest product, with a 0.5P charge/discharge efficiency of over 95.5% in actual tests, a cycle life of over 10,000 times, meeting the demand for 1P charge/discharge, and complying with the latest sodium-ion energy storage standard GB/T44265-2024. With its excellent space utilization, ultra-long life, and high safety, this battery is widely applicable in household and commercial energy storage systems, wind and photovoltaic energy storage, ship power, and backup power for 5G base stations and data centres.
[Sodium-ion Battery: Zhongna NFS Sodium-ion Battery 4-Year 200 Million Yuan Order] On October 30, 2024, Zhongna Energy recently announced that it successfully obtained a nomination letter for sodium-ion batteries from a leading international automotive parts company, officially becoming its supplier in the sodium-ion battery product field. According to the customer's plan, this project will last for four years, with a total procurement amount expected to reach 200 million yuan, and large-scale procurement is expected to begin in H1 2025.
[Sodium-ion NFPP: Yingna New Energy 4,000 mt/year Composite Sodium Iron Phosphate Production Line Integration Procurement Project Winning Bid Announcement] The bidding work for Changxing Yingna New Energy Materials Co., Ltd.'s 4,000 mt/year composite sodium iron phosphate production line integration procurement project has ended, and the winning bidder has been determined. The winning bid result is announced as follows:
Winning bidder: Changzhou Najin Intelligent Technology Co., Ltd.
Scope and content of the winning bid: Detailed content and requirements are in the tender document procurement requirements.
Delivery date: 70 days after the contract takes effect
Announcement period: October 28, 2024 - October 30, 2024.
[SMM Sodium-ion Battery Analysis: Yingna New Energy Completes New Round of Financing to Accelerate 10,000 mt Sodium-ion Battery Cathode NFPP Production Line Construction] In October 2024, good news came from Yingna New Energy, a top-tier enterprise in sodium-ion battery cathode active materials polyanion NFPP. Yingna completed a new round of financing worth tens of millions of yuan to accelerate the construction of the 10,000 mt NFPP production line. Among them, the 4,000 mt/year NFPP production line integration procurement project completed bidding at the end of October.
[Sodium-ion Battery: Annengda Rushing to Fulfill 30 Million Yuan Sodium-ion Battery Order for Car Manufacturers] On October 15, 2024, according to the official website of Tongxin County, Ningxia, Ningxia Annengda New Energy Technology Co., Ltd., located in Tongxin Industrial Park, is rushing to fulfill a total of 30 million yuan sodium-ion battery order for Wuhan Bus Factory and Guangzhou Hengchuang Automobile Company. The Annengda sodium-ion battery project started construction on February 26, 2024, and plans to complete the construction of a 6GWh sodium-ion battery production line in two phases. On August 7, 2024, the first phase of the project was officially put into production. Once the project reaches full production, it is expected to achieve an annual output value of 3.5 billion yuan, contribute 700 million yuan in taxes, and create 500 jobs.
[Sodium-ion Battery: Yangguang Welcomes First Customer Bifeida's Cooperation] On October 27, 2024, Yangguang Technology announced that Nanjing Bifeida New Energy Technology Co., Ltd. signed a strategic cooperation agreement with Yangguang Technology in Changshu, Jiangsu, to jointly promote the industrialisation process of sodium-ion batteries.
[Sodium-ion Battery: Paragonage Wins 1.5 Million Yuan Sodium-ion Battery Project] On October 24, 2024, the results of the 11th batch of service special public bidding for innovation projects in 2024 by Shenzhen Power Supply Bureau Co., Ltd. were announced. Paragonage New Energy's wholly-owned subsidiary, Shenzhen Paragonage Sodium-ion Battery Co., Ltd., won the sodium-ion battery project. Its bid price was 1.5 million yuan, and the project procurement content includes the R&D of low-cost, high-performance sodium-ion battery cells and the trial production technology development of energy storage systems. Including:
R&D of low-cost, long cycle life, high charge/discharge rate sodium-ion battery cells. Design and construction of a sodium-ion battery energy storage system with a capacity of no less than 100kWh.
Delivery content includes: submission of a technical report on the R&D of low-cost, high-performance sodium-ion battery cells. Provision of a sodium-ion battery energy storage system with a capacity of no less than 100kWh (with a third-party test report), covering design, construction, installation, system integration, and after-sales warranty services. The warranty covers construction quality, installation, electrical, fire protection, system integration, and equipment quality, with a warranty period of three years.
[Sodium-ion Battery Project: Huaihai Sodium-ion Battery Aid Xinjiang Project Lands in Kuitun] On October 18, 2024, Xuzhou's aid to Xinjiang project achieved new results, with Huaihai Sodium-ion Battery New Energy Technology Development Co., Ltd. officially landing in Kuitun, becoming a highlight of local investment attraction.
[Sodium-ion Battery Project: Tiantong Kaimei 0.3GWh Sodium-ion Battery Project Approved in Haining] On October 15, 2024, Tiantong Kaimei Technology Co., Ltd.'s annual production of 0.3GWh sodium-ion battery project was approved by the Haining Economic and Information Bureau. The project is located at 306 Gushui Road, Haichang Street, Haining City, Jiaxing, Zhejiang Province, with a total investment of 125 million yuan. Among them, 98.02 million yuan will be used for equipment procurement, including coating machines, rolling machines, winding production lines, and slitting machines. Once completed, the project is expected to achieve an annual output value of 230.2432 million yuan, with an annual production capacity of 0.3GWh sodium-ion batteries.
[Sodium-ion Battery Project: Zigong Seeks Opinions on Introducing "20GWh/year Sodium-ion Battery Cell R&D and Production Base Project"] On October 22, 2024, the Zigong High-tech Zone Management Committee issued an announcement to solicit opinions on introducing the "20GWh/year Sodium-ion Battery Cell R&D and Production Base Project." The project covers an area of about 500 acres, with a total investment plan of about 8.8 billion yuan, including 2.8 billion yuan for working capital and R&D, and 6 billion yuan for fixed asset investment. The project plans to build a 20GWh/year sodium-ion battery cell and 10GWh/year PACK production line, to be implemented in phases. Once the first phase is completed and reaches production, it will achieve an annual production capacity of 10GWh/year sodium-ion battery cells and 5GWh/year PACK, expected to bring about 3 billion yuan in annual sales revenue and 90 million yuan in taxes.
[Sodium-ion Energy Storage Project: Urumqi Ganquanbao Sodium-ion Mixed Electrochemical Shared Energy Storage Project Launched] On October 18, 2024, a mixed electrochemical shared energy storage project with a total investment of about 1.9 billion yuan was launched in the Ganquanbao Economic and Technological Development Zone in Urumqi, Xinjiang. The project plans to establish a mixed electrochemical energy storage station with a capacity of 400MW/1600MWh, adopting various advanced electrochemical energy storage technologies, including LFP, advanced sodium-ion, and all-vanadium flow technologies. The project is expected to be completed and put into use in 2025, with an expected discharge capacity of about 402 million kWh in the first year of production.
[Sodium-ion Energy Storage Project: National Energy Guangxi Guilin Yongfu 20MWh Sodium-ion Energy Storage Project Officially Launched] On October 17, 2024, the National Energy Group's energy storage project in Yongfu County, Guilin City, Guangxi, was officially launched. The project is located in the Guoneng Yongfu plant area of Suqiao Economic Development Zone, planning to build a 100MW/200MWh electrochemical energy storage station. The project adopts a mixed technology route design, with LFP batteries accounting for 90MW/180MWh and sodium-ion batteries providing 10MW/20MWh capacity, with a total design scale of 200MW/400MWh. The project covers an area of about 20,000 m², and the part under construction will adopt the LFP battery solution, with a supporting 220kV step-up station and related power distribution facilities. The entire energy storage station features an integrated container design and prefabricated cabin energy storage system, supporting efficient power management and dispatch.
[Sodium-ion Energy Storage Project Winning Bid: 0.759 yuan/Wh China Energy Construction Group Guangxi Electric Power Design Institute Wins CGN 22.5MWh Sodium-ion Battery System Project] On October 18, 2024, CGN announced the list of EPC general contractor candidates for the 200MW/400MWh centralized shared new-type energy storage project in Zhongshan, Guangxi. China Energy Construction Group Guangxi Electric Power Design Institute Co., Ltd. became the pre-winning unit with 303.6455 million yuan (0.759 yuan/Wh). The energy storage system of the project includes a 192MW/378.3108MWh lithium battery system and an 11.25MW/22.5MWh sodium-ion battery system, sharing the same energy management system (EMS). The second place was Hanrui Engineering Co., Ltd. with 303.364 million yuan (0.758 yuan/Wh), and the third place was China Energy Construction Group Northeast Electric Power Third Engineering Co., Ltd. with 304.9405 million yuan (0.762 yuan/Wh). According to the bidding information, the project is located in Zhongshan, Hezhou, Guangxi, and is invested and developed by CGN Zhongshan Wind Power Co., Ltd., planning to build a 200MW/400MWh centralized electrochemical energy storage station, expected to be completed and put into production on December 31, 2024.【Sodium Battery Project: Groundbreaking Ceremony for Gaia Zhejiang Suichang Energy Storage Large Cylinder 3GWh Lithium (Sodium) Battery Manufacturing Project with an Investment of 5 Billion Yuan】On the morning of October 23, 2024, Zhejiang Gaia New Energy Co., Ltd. held the groundbreaking ceremony for the new energy storage large cylinder 3GWh lithium (sodium) battery manufacturing project in the Longbanshan area of Suichang Economic Development Zone, Zhejiang. The total planned investment for the project is 5 billion yuan, with the first phase investment of approximately 1 billion yuan. The total construction area of the project is about 75,000 m², with the first phase covering 42,000 m². The construction period is expected to be 16 months, with the first phase expected to be completed within 12 months. Once fully operational, the project is expected to generate an annual output value of over 1 billion yuan.
【Sodium Battery Cars: CATL's Sodium-Lithium "Xiaoyao" Super Hybrid Battery to be Equipped on Over 30 Popular Car Models】On October 24, 2024, CATL will officially release the "Xiaoyao" super hybrid battery, which adopts advanced sodium-ion battery technology and the pioneering lithium-sodium AB battery system integration technology, capable of discharging below -40°C. It will be used in over 30 popular car models, including Avita, Li Auto, IM Motors, and Voyah. This battery marks the world's first sodium-ion battery capable of achieving a pure electric range of over 400 kilometers. Notably, the battery features 4C ultra-fast charging, providing up to 280 kilometers of range with just ten minutes of charging, far exceeding the charging efficiency of most pure electric vehicles with a range of over 600 kilometers on the market. Additionally, CATL has innovatively introduced the lithium-sodium AB battery system integration technology in this battery, allowing it to discharge normally at temperatures below -40°C.
【1 Billion Yuan! Gaia New Energy Large Cylinder 3GWh Lithium/Sodium Battery Manufacturing Project Commences】Zhejiang Gaia New Energy Co., Ltd. has commenced the groundbreaking of the new energy storage large cylinder 3GWh lithium (sodium) ion battery manufacturing project in Suichang, Lishui, Zhejiang. The estimated investment for this project is 1 billion yuan, with the construction of 3GWh/year lithium (sodium) ion batteries and basic energy storage process configuration production facilities and corresponding supporting facilities. The total land area for this project is approximately 97 acres, with a total construction area of about 75,000 m².
【Sodium Energy Storage Project: Baiyun 200MW/400MWh Sodium-ion Battery Independent Energy Storage Station Project Filing】On October 14, 2024, the Baiyun Shijing Demonstration Base project of the New-type Energy Storage Innovation Center successfully passed the filing review by the Baiyun District Development and Reform Bureau. The project, constructed by Guangdong New-type Energy Storage National Research Institute Co., Ltd., has a total investment of 800 million yuan and is planned to be implemented between June 1 and December 1, 2026. The project will build a 200MW/400MWh sodium-ion battery independent energy storage station, initially located near Chaoyang Xinfeng Road in Baiyun District, Guangzhou, and will be connected to the existing 220kV Shijing power grid. The energy storage station is expected to cover 80 acres, with detailed design completed by December 2025, construction starting in June 2026, and completion and commissioning by December 2026. The main revenue sources after the project is completed will include new energy storage leasing and participation in power grid peak shaving and frequency regulation services.
【Sodium Battery Exchange: Anda House Team, Zhejiang Minglei Team, and Haishida Exchange on Sodium Battery Applications】On October 14, 2024, Haishida's official account announced that the Anda House team and the Zhejiang Minglei team visited Haishida for an inspection. The three parties conducted in-depth exchanges and discussions on the application of sodium batteries in the field of power tools. Compared with lithium batteries, sodium batteries perform better in wide temperature ranges and cycle life, while also having higher cost-effectiveness and stability, which have gradually become the focus of industry attention. During the exchange, technical experts from the three parties discussed in detail the application prospects, technical challenges, and market promotion strategies of sodium batteries in the field of power tools.
【Sodium Energy Storage: CGN Hubei and Huana Xinneng Exchange on 40MW String-type Sodium-ion and Flywheel Energy Storage Project】On October 17, 2024, relevant personnel from the New-type Energy Storage Technology Center of CGN New Energy Hubei Branch went to the Industrial Technology Research Institute for an in-depth discussion on the Daxin 40MW string-type sodium-ion and flywheel energy storage project. Zhang Liwu, deputy director of the Industrial Technology Research Institute, attended the exchange meeting at Huana Xinneng.
【Sodium Battery: Huayang Sodium Battery Obtains National Compulsory Certification】On October 14, 2024, Huayang New Power announced that the sodium-ion battery products of Huana Xinneng have successfully obtained national compulsory product certification. The certified sodium-ion battery products are the DZ45N-12EQ battery pack manufactured by Huana Xinneng, applied to the Lima brand electric bicycle model TDT2272Z.
【NFPP Sodium Battery Tender: Three Gorges Jinsha River Yunchuan Company "New-type Iron Phosphate Sodium Battery Application Research in Power Plant Power Supply System" Tender Announcement】On October 17, 2024, Three Gorges Jinsha River Yunchuan Hydropower Development Co., Ltd. issued a tender announcement for the "New-type Iron Phosphate Sodium Battery Application Research in Power Plant Power Supply System." The research aims to explore the application of iron phosphate sodium batteries in power plant DC, UPS, and EPS power supply systems to replace traditional lead-acid batteries, thereby addressing environmental hazards, explosion risks, limited lifespan, and heavy maintenance. At the same time, by improving the safety and reliability of power plant power supply systems, it promotes the popularization and application of advanced battery technology. The project also plans to produce and test prototypes of iron phosphate sodium battery applications at the Baihetan Power Plant.
【Sodium Energy Storage: GCL Energy Technology Grid-connected 5MWh Sodium-ion Battery Energy Storage Project at Chuan Yi Zhiwei】On October 18, 2024, GCL Energy Technology's subsidiary Gaoyou Xinyi New Energy Co., Ltd. successfully connected its PV energy storage integrated project to the grid. The project has a total capacity of 13.5MW PV and 2.5MW/5MWh energy storage. This is an industrial and commercial PV energy storage station using sodium-ion batteries, located in the Chengnan Development Zone of Gaoyou, Yangzhou, provided by Chuan Yi with 210ah square layered oxide sodium batteries. The project fully utilizes the 150,000 m² color steel tile roof, concrete roof, and carport roof of Zhiwei Electronics Technology Co., Ltd.'s factory area to install 13.5MW PV equipment and is equipped with a 2.5MW/5MWh sodium-ion battery energy storage system. The energy storage system is designed for daily charge and discharge twice, with over 300 cycles per year, each storing 5,000 kWh of electricity. After completion, Jiangsu Zhiwei Electronics will adopt the "self-generation and self-use, surplus electricity to the grid" model, with an average annual PV power consumption ratio of 89.6%, and is expected to reduce carbon emissions by approximately 12,017 mt annually.
【Sodium Energy Storage Project: Huana Xinneng and China Southern Power Grid Exchange on Baiyun 40MW Sodium Energy Storage Project】Huayang Group Industrial Technology Research Institute, Huana Xinneng, and China Southern Power Grid Power Technology Co., Ltd. recently conducted in-depth exchanges and discussions on the Baiyun Base 40MW sodium energy storage project. According to the plan, the project is expected to complete the supply of battery cells by early January 2025 and complete the system assembly and pairing by the end of January.
【Sodium Battery Bid: Weifang Wins Steel Tower Tianjin Bus Station Billboard Backup Power Battery Project】On October 11, 2024, China Tower Energy Co., Ltd. Tianjin Branch announced the winning candidates for the 2024 bus station billboard backup power battery framework procurement project. There were three bidders in total, with Shenzhen Weifang Energy Technology Co., Ltd. ranking first with a total tax-inclusive quotation of 4.0435 million yuan, followed by Hangzhou Xuda New Energy Technology Co., Ltd. with 4.465 million yuan. The specifications of the sodium-ion battery products are 24V68Ah and 48V150Ah, with estimated quantities of 36 and 1,692 respectively.
(1) Charge and discharge temperature -20°C to 55°C; working relative humidity ≤95% (at 45°C ±2°C); working atmospheric pressure 70kPa to 106kPa.
(2) At the standard working temperature of 25°C, the rated capacity of the battery should be Ce∈[1.0C5, 1.1C5], with no deformation or explosion, and a cycle life of at least 2,000 times.
(3) At a working temperature of 55°C, the discharge capacity should reach 95% or more of the baseline capacity Ce, with no deformation or explosion, and a cycle life of no less than 800 times.
(4) At a working temperature of -20°C, the discharge capacity should not be less than 80% of the baseline capacity Ce, with no deformation or explosion, and a cycle life of no less than 400 times.
(5) The battery warranty period is 6 years under the condition of daily charge and discharge once, starting from the date of order acceptance.
【SMM Sodium Battery Analysis: Zhongna Energy Accelerates Delivery of Thousand-ton NFS Sodium Battery Cathode Materials】Zhongna Energy's subsidiary specializing in the mass production of cathode materials, Zhenjiang Lina, has successfully received a 1,000 mt NFS cathode materials order from a strategic partner and has quickly started large-scale mass production and delivery, gradually reaching a peak in shipments. This order is the first single order in the sodium battery industry to exceed 1,000 mt of cathode materials, marking the NFS technology route's entry into a new stage of industrialisation and commercialisation with its precise scene adaptability and unique cost advantages.
【Sodium Battery: Qingna Guangde Base 2GWh Equipment Installation and Commissioning】At 8:00 am on October 14, 2024, Anhui Qingna Energy Technology Co., Ltd.'s Guangde mass production base welcomed the first batch of sodium-ion battery production equipment for installation and commissioning. 【Sodium Battery Materials: 450 Million Yuan Sodium Battery Materials and Water Reducer Project Signed in Huanggang】On October 9, 2024, a sodium-ion battery materials and water reducer project with a total investment of 450 million yuan was successfully signed in the Huanggang High-tech Industrial Development Zone.
【Sodium Battery: Zhongsen Carbon Investment 30GWh Sodium Battery Project Filed in Beihai, Guangxi】On October 14, 2024, Fujian Zhongsen Carbon Investment New Energy Technology Co., Ltd. completed the filing registration for the "Annual Production of 30GWh High-performance Sodium-ion Battery Project" in Tieshangang District, Beihai, Guangxi.
【Sodium Cathode NFPP: Yingna 4,000 mt/year Composite Sodium Iron Phosphate Production Line Integration Project Procurement Tender】On October 14, 2024, Changxing Yingna New Energy Materials Co., Ltd. issued a tender announcement for the annual production capacity of 4,000 mt NFPP production line integration procurement project. Procurement method: invitation to tender; delivery date: within 90 days after the contract is signed and passing installation acceptance; non-joint bid, one successful bidder will be determined. Deadline for receiving tender documents: 17:00 on October 21, 2024.
【Sodium Battery Overseas: Lepu Sodium Battery Signs Sodium Energy Storage System Agreement with Zambia Ruida Mine】On October 12, 2024, Lepu Sodium Battery signed a power purchase and sale agreement with Zambia Ruida Mine for a 20MW photovoltaic power station and a 25MW/50MWh energy storage system. In Zambia's power structure, more than 86% relies on hydropower, and the local area has excellent sunlight conditions, with annual sunshine hours exceeding 2,200 hours. This project will apply high-efficiency N-type modules to the photovoltaic system, maximizing the conversion of solar energy into clean, sustainable power, supporting the mine to achieve full-load operation during the day. Additionally, the 25MW/50MWh sodium energy storage system will ensure stable power supply in Zambia at night and achieve flexible switching between grid-connected and off-grid modes through an advanced energy management system (EMS).
【Sodium Battery: Fengri Electric Sodium-Lithium Battery Production Project (Phase I) Put into Use】On October 10, 2024, Fengri Electric's official account announced that on the morning of October 9, Fengri Group held a grand ceremony for the commissioning of the sodium-lithium battery production project (Phase I) at its headquarters in the Economic and Technological Development Zone of Liuyang, Changsha, Hunan Province.
【Overseas Sodium Battery: Swedish Sodium Battery Cathode Company Altris Completes Series B Financing】On October 7, 2024, Swedish sodium-ion battery developer Altris successfully raised 150 million Swedish kronor (approximately 102 million yuan, 14.45 million US dollars) in Series B1 financing and introduced new investors such as Clarios and Maersk Growth. This financing will be used to complete Altris's pilot production facility, thereby achieving commercial production of sodium-ion battery cathode materials. In November 2023, Altris and Northvolt jointly developed the Prussian White sodium battery with an energy density exceeding 160Wh/kg. In June 2024, Altris announced a strategic partnership with Stora Enso, a leading supplier of renewable products in packaging, biomaterials, and wooden construction, to develop hard carbon solutions as anode materials for sodium-ion batteries.【Sodium Battery: Strategic Cooperation between Huna and SPIC】On October 10, 2024, SPIC Low Carbon Technology Service (Zhejiang) Co., Ltd., Low Carbon SPIC New Energy (Jiaxing) Co., Ltd., and Zhejiang Huna Energy Co., Ltd. reached a strategic cooperation agreement. This cooperation aims to fully integrate the advantages of the three parties and actively explore multiple fields around the "dual carbon" goals. These fields include the development and utilization of green energy, the construction and application of new-type energy storage systems, demonstration projects of green low-carbon industrial parks, the development and construction of photovoltaics and charging piles, market expansion, industrial collaboration, technological innovation, and joint brand promotion. Through these efforts, the three parties will jointly help east China and surrounding areas move towards a globally influential demonstration model.
【Sodium Battery: Narada's Sodium Battery Development】On October 9, 2024, Narada responded to investors' concerns about whether the fuel cell and sodium battery development had been mass-produced and shipped. In terms of sodium batteries, Narada has developed 20Ah and 240Ah sodium-ion batteries for the light power and energy storage markets, with an energy density of 140Wh/kg and a cycle life of 3,000 times. These batteries support air storage, low-temperature environments, and 5C charge and discharge, meeting current application needs.
【Sodium Battery: Kexiang Na Energy's 0.5GWh Sodium-ion Energy Storage Battery and Related Products Project Approval】On October 9, 2024, Guangzhou Kexiang Na Energy Battery Co., Ltd.'s 0.5GWh sodium-ion energy storage battery and related products project successfully passed the review of the Development and Reform Bureau of Zengcheng District, Guangzhou. The total investment of the project is 30 million yuan, and the construction site is located at No. 5, Xinhe South Road, Baishui Village, Ningxi Street, Zengcheng District, Guangzhou (Building F, Floors 1 and 2, Factory A6), with a total area of about 12,000 m². The project plans to build a production line for sodium-ion energy storage batteries and related products, with an annual capacity of 0.5GWh. Facilities include two-story factory buildings and supporting facilities, with main production equipment covering automatic batching and feeding systems for cathode and anode materials, cathode extrusion coating machines, and anode coating machines.
【Sodium Battery: Henan Shangqiu Bangyu Sodium Battery Project Commencement】On October 8, 2024, the Henan Shangqiu Bangyu New Energy Storage Battery Industrial Park project officially commenced. The total investment of the project is 3 billion yuan, and it is planned to be constructed in phases to build a 10GWh new energy storage battery industrial park. The first phase covers an area of 150 mu, with an investment of 1 billion yuan, to build a 2GWh new energy storage battery cell and PACK integrated production line, mainly producing high-capacity large aluminum shell small power lithium-ion cells and energy storage PACK using stacking technology. The second phase covers an area of 90 mu, with an investment of 1 billion yuan, to build a 3GWh sodium-ion battery and PACK production line. The third phase also invests 1 billion yuan to build a 5GWh sodium-ion battery and PACK production line. After the project is fully operational, the annual output value is expected to reach 14 billion yuan. It is worth mentioning that Bangyu New Energy has already built a production line for 8,000 square aluminum shell batteries per day in 2023, with a single cell capacity of 100Ah.
【Sodium Battery: Weilan Lithium Core's R&D in Sodium Batteries Not Yet Mass-Produced】On October 10, 2024, Weilan Lithium Core (002245.SZ) stated on the investor interaction platform that the price of lithium carbonate has dropped significantly, and the price of lithium batteries is declining; however, sodium batteries still do not have a cost advantage over lithium batteries. The company has currently carried out technical research and development in the field of sodium batteries but has not yet entered the mass production stage.
【Sodium Battery Cathode and Anode: Sichuan Huayi Energy Storage Sodium-ion Battery Cathode and Anode Materials Project Approved】On October 9, 2024, Huayi Energy Storage (Sichuan) New Energy Co., Ltd.'s "Sodium-ion Battery Cathode and Anode Materials and Battery Production Base (Phase I) Project" was officially approved by the Development and Reform Commission of Bazhou District. The address is located at the Intelligent Manufacturing Base B6, Bazhou Industrial Park, Qingjiang Town, Bazhou District, Bazhong City, Sichuan Province.
【Sodium Battery Cathode: Yangguang Technology's Changshu Pilot R&D Base Completed】On October 7, 2024, it was reported that Yangguang Technology's pilot R&D base in Changshu, Jiangsu, was officially completed. The base covers more than 3,000 m², with a planned investment of 30 million yuan, focusing on the basic research, technology development, and engineering scale-up of sodium-ion cathode materials and sodium-ion batteries, covering layered oxide, polyanion, and sodium battery technologies. Currently, Yangguang Technology's main products include sodium-ion cathode material YGN33A (sodium nickel iron manganese oxide) for power devices and sodium-ion cathode material YGNFP (composite sodium iron phosphate) for energy storage. YGN33A achieved mass production of thousands of tons in 2023, with an energy density of 130-155Wh/kg and a cycle life of 2,000-3,000 times; YGNFP has completed pilot testing, with an energy density of 100-120Wh/kg and a cycle life of 8,000-10,000 times.
【Sodium Battery: Lepu Sodium Battery and Paragonage New Energy Strategic Signing】On October 8, 2024, Lepu Sodium Battery New Materials (Lu'an) Co., Ltd. and Wuxi Paragonage New Energy Co., Ltd. signed a strategic cooperation agreement at Paragonage New Energy's headquarters in Wuxi.
【Sodium Battery: Zhongna and Suzhou Energy Group Cooperation】On October 8, 2024, Zhongna's official account information. Jiangsu Zhongna Energy Technology Co., Ltd. and Suzhou Energy Group's wholly-owned subsidiary Suzhou Energy Storage Investment Development Co., Ltd. signed a strategic cooperation agreement. This cooperation highlights the joint efforts of both parties in the research and development, application, and market promotion of sodium energy storage projects.
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