A project that is being developed by GEM (Jiangsu) Cobalt Industry Co Ltd in the Taixing Economic Development Zone – located in Taixing city, East China's Jiangsu province – recently received special funding from the province.
The project is a high-performance cobalt acid lithium material manufacturing plant that produces cobalt acid lithium materials used in lithium-ion batteries.
The special provincial funds target developing key areas in Jiangsu such as technological innovation in provincial industries, intelligent transformation and digital networking.
They also focus on industrial transformation and upgrading, as well as service system construction – covering 17 segmented fields such as building enterprise innovation carriers and upgrading service-oriented manufacturing.
Overall, the special funds aim to provide strong support for promoting new industrialization in the province and accelerate the construction of a modern industrial system.
GEM (Jiangsu) Cobalt Industry Co Ltd is mainly engaged in the research and production of high-end cobalt metal products, with cobalt tetroxide products accounting for 20 percent of its market share.
Cobalt tetroxide is the main raw material for preparing cobalt acid lithium materials – the positive electrode material for lithium-ion batteries.
An interior view of the premises of GEM (Jiangsu) Cobalt Industry Co Ltd. [Photo/WeChat account: txfabu]