(Yicai Global) Sept. 21 -- The construction of a lithium hexafluorophosphate project with an annual production capacity of 3,000 tons, relevant equipment testing and pre-trial run paperwork are complete. Shaowu Yongtai High-tech Materials Co., a holding subsidiary of Zhejiang Yongtai Technology Co. [SHE:002326], backed the facility, which is set to start its test run.
The fluorine chemicals producer said yesterday that after starting trials, the holding subsidiary will be able to submit samples to prospective customers to confirm orders.
The cost of lithium hexafluorophosphate accounts for about 50 percent of the total cost of lithium battery electrolytes. Due to rapid development of the lithium battery industry, high technical barrier and a long production cycle in lithium hexafluorophosphate manufacturing, the world's existing production capacity has a hard time meeting demand.