China’s Shandong Sacred Sun Power has signed a lead-carbon battery production deal with Japanese battery manufacturer Furukawa Battery.
The agreement concedes Sacred Sun to produce Furukawa’s lead-carbon FCP battery series at its facility in Qufu, Shandong, China. The product will be sold in China in order to reach the renewable energy and stationary power market in China. The deal aims to raise up to Rmb255.6m ($41.11m) in private placement of shares.
The FCP battery system combines a long-life valve regulated lead-acid battery for cycle use. According to Furukawa, the system can be fully recycled and has a much better return on investment in comparison to li-ion battery based systems. The system can be used in the automotive industry as well as renewable power systems. It is tested for deep cycle appliances and 4,000 cycles at 70% DOD.
Both parties said they share the same value of “honesty and obligation”. The deal contains an option to increase the production to provide the Asian and worldwide markets with energy storage solutions.
The official signing ceremony took place on 14 June in Qufu at Sacred Sun’s facility.