AST Technology signed a cooperation agreement with Luoyang Moon & Star New Energy Technology.
“AST Technology SA” announced today that it has entered into three pillars agreement with “Luoyang Moon & Star New Energy Technology Co. Ltd”:
Pillar 1: Distribution
A Global Exclusive Distribution Agreement to Distribute the Anode powder Manufactured in China by M&S under a new brand “AP” the agreement excludes NAFTA and China. The distribution activity will start immediately.
Pillar 2: Toll Manufacturing with European Raw Material
A Toll Manufacturing Agreement that allows AST to produce a Superior Anode Powder using M&S processing capability in China with European Needle coke (the main component of the Anode powder). The Anode Powder will be branded “APM” and will be available for global distribution by end of 2021.
Pillar 3: 1st European Manufacturing Plant
A Technical and Commercial Cooperation to build a Manufacturing Plant in Europe equipped with the state-of-the-art technology to produce Superior Anode Powder. The plant will use European raw materials exclusively. AST is currently evaluating a few locations in Central Europe to decide where to build the Plant. The First phase will enable AST to produce 6000 MT per annum of Superior Synthetic Graphite Anode Powder Material which will be branded as “APMX” and will be dedicated to High Performance Electric Vehicle Batteries by end of 2023. The Nominal Capacity of the plant (60,000 MT per annum) will be reached in step as the market of the EV Battery develops in Europe.
Dr. Said ALAMEDDINE, CEO “AST Technology SA” said: “We are delighted to announce this major strategic development for the European Electrical Vehicle Industry. Our aspiration is to contribute significantly to make the supply chain of this industry sustainable and independent. Our partner Luoyang Moon & Star New Energy Technology Co. Ltd will support to achieve our goal faster and better due to their extensive experience in this new disruptive technology. They are in the top 10 of world anode producers and have been engaged in R&D and production of the graphite anode materials for EV batteries since 2008. They have been supplying world class EVB producers such as “BAK” for over ten years. They will be an invaluable asset to AST for their know-how and expertise in the Design, Engineering, and Commissioning of the European Anode Manufacturing Plant.
About AST Technology:
AST Technology is a leading Engineering Group headquartered in Geneva Switzerland. The company has a global presence and specializes in the development of synthetic graphite materials. The group envisions becoming the leading European producer of superior anode materials.
Further information on AST Technology can be found at www.ast-technology.com.
To the extent that our press release contains forward-looking statements, the latter are based on information that is available at present and on our current forecasts and assumptions. Forward-looking statements, by their very nature, entail known as well as unknown risks and uncertainties that may lead to actual developments and events differing substantially from the forward-looking assessments. Forward-looking statements must not be understood to be guarantees. Instead, future developments and events depend on many factors; they comprise various risks and imponderables and are based on assumptions that may possibly turn out not to be appropriate. These include unforeseeable changes to fundamental political, economic, legal, and societal conditions, particularly in the context of our main customers’ industries, the competitive situation, interest and exchange rate trends, technological developments as well as other risks and uncertainties. We perceive additional risks e.g., in pricing developments, unforeseeable events in the environment of companies acquired and Group member companies as well as in current cost savings programs from time to time. The AST Technology SA assumes no obligation and does not intend to adjust or otherwise update these forward-looking statements either.
AST Technology SA
Les Champs Blancs 67, Chavannes de Bogis
CH-1279 Geneva, SWITZERLAND
Phone: +41 22 77601 31