Hefei National High-tech Industry Development Zone (Hefei high-tech zone) signed a cooperative agreement with Yuanchen Environmental Science and Technology Company on Aug 3, and the latter announced plans to set up a research and design institute in the zone.

The new research and design institute will be expected to leverage the advantages of universities and institutes such as the Hefei Institutes of Physical Science of the Chinese Academy of Sciences, and the University of Science and Technology of China, and carry out technical research and development (R&D) in areas such as sensor gas-sensitive film materials, degradable fiber materials, and polymer film processing, in an attempt to overcome crucial technical bottlenecks relating to the country's goals of carbon peaking and neutrality.

Lyu Bo, deputy director of the administrative committee of Hefei high-tech zone, said that in recent years, the zone has attached great importance to developing competitive industries, and creating a sound business environment. The two sides will make full use of their unique advantages to achieve win-win cooperation.

Xu Hui, president of Yuanchen Environmental Science and Technology Company, expressed his confidence in the future development of the new research and design institute. He said that Yuanchen has adhered to reform and innovation initiatives to achieve high-quality development in recent years.

The new project in the zone is expected to have a registered capital of 50 million yuan ($7.42 million), and plans to collaborate with new material technology R&D businesses, produce and sell high-performance fibers and composite materials, and manufacturespecial equipment for semiconductor devices and materials for environment and ecological protection.

Hefei high-tech zone signs a cooperative agreement with Yuanchen Environmental Science and Technology Company on Aug 3. [Photo/WeChat ID: hefeigaoxinfabu]