Wenzhou-Based CHINT Invests in Spanish Graphene Battery Company

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Published: Sunday, 07 February 2016 22:01

Written by CHINA WENZHOU GUIDE

Recently, CHINT Electric, a Shanghai-listed company based in Wenzhou, China, released more details about their acquisition of 10% stake in Grabat Energy, a Spanish grapheme battery company, a transaction worth 18 million Euro.

Grabat Energy, a subsidiary of Spain’s Graphenano for graphene-based batteries, has developed and produced polymer-graphene batteris certified by TUV and DEKRA. It is reported that their new batteries are far better than lithium batteries with stable performance and high safety. Their first plant for polymer-graphene batteries has been completed in Spain with 22 production and assembly lines and will put into production this year.

CHINT, a giant company in the industry of electrical equipment in China, has expanded into the industry of new energy aggressively in recent years. In December, 2014, CHINT acquired 80% stake in Shanghai SIMBATT Energy Technology Co., Ltd., a high-tech manufacturer in the research and development, production, sales and services of graphene powder and its downstream products. The company has developed into a leading supplier of super-capacitor and graphene powder.

According to the Memorandum of Understanding between CHINT and Grabat Energy on August 8, 2015, both parties will invest in building the plant in Spain to produce graphene-based batteries. In addition, a joint venture will be established in China to assemble finished battery products, and CHINET will be an exclusive distributor of these graphene batteries in China.