On January 7, Tinci Materials (Tinci) announced the company and its subsidiary, Tinci Delaware LLC (Tinci Delaware), have signed two Equity Purchase Agreements with Honeywell International Inc. (Honeywell) and its subsidiary, Advanced Energy Materials LLC (AEM). The parties intend to establish two joint ventures through equity purchase and subscription. The ventures will focus on the production, operation, and sales of products such as liquid lithium hexafluorophosphate (LiPF6) and electrolytes.
According to the announcement, Tinci Texas, a wholly-owned subsidiary of Tinci Delaware, will be one of the joint ventures. Tinci Delaware and Honeywell have reached an agreement, under which Tinci Delaware will transfer 49% of the equity of Tinci Texas to Honeywell, with the transfer price expected to be $16.66 million (US). After the equity transfer, Tinci Delaware will hold 51% of the shares, while Honeywell will hold 49%. Tinci Texas plans a project with an annual production capacity of 200,000 tons of electrolytes.
AEM, a wholly-owned subsidiary of Honeywell, will be another joint venture. The primary future business of AEM will be the production, operation, and sales of battery raw materials, including liquid lithium hexafluorophosphate. Tinci Delaware and Honeywell have agreed that Tinci Delaware will subscribe to the newly issued shares of AEM. After the subscription, Honeywell will hold 51% of the shares, and Tinci Delaware will hold 49%. AEM plans a project with an annual production capacity of 100,000 tons of liquid LiPF6, with a total investment of approximately $400 million.
Source: WeChat Official Account—CBEA电池中国
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