A groundbreaking ceremony for Jiangsu Shangding New Energy Technology Co Ltd's lithium battery recycling project is held in Zhangjiagang, Suzhou, Jiangsu province. [Photo/WeChat account: zhangjiagangfabu365]
A groundbreaking ceremony for Jiangsu Shangding New Energy Technology Co Ltd's lithium battery recycling project was held in Nanfeng town, Zhangjiagang, Suzhou, Jiangsu province on Oct 30.
A subsidiary of Suzhou Chuangyuan Investment and Development (Group) Co Ltd, Shangding is investing a total of 250 million yuan ($34.16 million) into the project, which spans the entire industrial chain from power battery storage to leasing, sharing, recycling, and cascade utilization.
The project fills a void in Zhangjiagang's lithium battery recycling sector. It is expected to not only meet the increasing demand for sustainable energy solutions, but also extend the industrial chain of the new energy sector in the city.
Han Wei, Party secretary of Zhangjiagang, expressed his hopes for the project's speedy completion. He noted that Zhangjiagang, which is primarily manufacturing-oriented, eagerly welcomes the expansion and increased investment from Chuangyuan Group and hopes the group will help attract more high-quality projects and innovative resources to the city.