WND launches new low-carbon industrial park

A new industrial park for the new energy circular economy and low-carbon industry is launched in the Wuxi National Hi-tech District on June 6. [Photo/WeChat account: xinwu_wx]

Shenzhen-based GEM, China's leader in recycling electronic waste and waste batteries, launched a new industrial park for the new energy circular economy and low-carbon industry in the Wuxi National Hi-tech District on June 6.

According to the company, it plans to invest a total of 2.8 billion yuan ($432.1 million) in WND by 2025, aiming to build the industrial park into a first-class new energy circular economy innovation center, a world-leading power battery and new energy vehicle recycling base, and a top-notch low-carbon industry education demonstration base.

The industrial park will mainly be involved in the high-value recycling of power batteries, the recycling of new energy vehicles, and the development of new-generation high-nickel ternary power materials.

The annual outputs of the three projects are expected to reach 300,000 tons, 50,000 vehicles, and 50,000 tons, respectively, according to the company. The park is expected to reduce carbon emissions by more than 2 million tons and achieve an annual output of 20 billion yuan.

An industry research institute by the same developer aimed at accelerating the development of low-carbon energy technologies was launched as well.

During the event, the district's education bureau and science and technology association also signed an agreement with GEM to build a low-carbon industry science education base.