World's first nickel-zinc battery manufacturing centre in China

The factory will be located in Haunin City, China, with the agreement providing a strategic framework for cooperation between the organisations, as well as financing for the venture.

It follows an agreement last year that saw PowerGenix and the CCCC to develop, manufacture and sell the battery technology for the hybrid automotive and other markets.

Ge Jin, group vice president of the CCCC, said, CCCC has long been committed to supporting regional economic development projects, especially those that support new technologies that will bring significant benefits to the environment and the quality of life of our community.

We first began investigating PowerGenix's NiZn technology in early 2011 as a higher performing and more environmentally friendly alternative to lead-based batteries for transportation, reserve power and other applications. As strong supporters of China's strategic investment initiatives, we are pleased that the development of NiZn battery technology can take root in Huainan City.

Cao Yong, Mayor of Huainan City, added, Together with CCCC, we believe that the widespread domestic and international commercialisation of nickel-zinc batteries will be a key contributor to our city's development as a modern, clean energy center in China. With cost, geographic and natural resource advantages, Huainan City is well positioned to help PowerGenix take advantage of the significant market opportunity for this low cost and safe advanced battery technology. We are proud to be working with partners who share our commitment to the development of clean energy technologies.