Ronbay Elaborates on Its LMFP Development Plan at its Global Development Strategy Press Conference in Shenzhen

BEIJING, Aug. 27, 2023 /PRNewswire/ -- On August 24, 2023, Ningbo Ronbay New Energy Technology Co., Ltd. ("Ronbay" with stock code of 688005. SH) announced its global development strategy and lithium ferromanganese phosphate (LMFP) development and planning at a press conference in Shenzhen.  It has announced its global development strategy in Shanghai and Seoul, respectively, before, and this event held in Shenzhen marks a successful closing of its global development strategy press conferences.

The event began with the company chairman Mr. Bai Houshan's interpretation of Ronbay's global development strategy, which gave details about the history of the company's efforts to go global, the current opportunities in the industry, the feasibility and necessity of the company's implementation of the global development strategy, and the company's resolution to accelerate its development worldwide. Subsequently, Li Jigang, president of Tianjin Ronbay Skyland Technology Co., Ltd.A holding subsidiary of Ronbay, made a comprehensive analysis of the current situation, business progress, core advantages and future planning of LMEP industry. This is also the first time that Ronbay has disclosed the latest progress and planning in the field of lithium ferromanganese around the globe.

Currently, LMEP is becoming the new favourite of the power battery market around the globe. As an upgraded product of lithium iron phosphate, LMEP has improved the low-temperature performance of lithium iron phosphate while increasing its energy density, and improved its cost-performance, safety and recycling more efficiently than ternary materials. And is expected to gradually replace lithium ferrophosphate and medium-and-low nickel ternary materials in the power battery field in the future.

According to estimate based on market research data, the penetration rate of LMFP in new energy vehicle market will reach 5%-10% in 2025 and over 30% in 2030, and that in phosphate field is expected to exceed 50% in 2030.

At present, global automakers, battery manufacturers and cathode manufacturers are implementing their LMEP development plans. In July 2022, Ronbay forayed into the field of phosphate materials by acquiring Ronbay Skyland, becoming the first enterprise to massively produce lithium ferromanganese, and the only enterprise with the production technology of top ternary and lithium ferromanganese materials in the world.

Li Jigang said at the press conference that the company's LMEP No.64 product has become a benchmark in the industry. The No.73 product with a higher content of ferromanganese featuring a higher voltage platform and energy density has also achieved the world's first 100-ton stable shipment; In the field of blending, the company launched ternary and LMFP composite M6P in the first half of the year. This series of products can adjust the blending ratio according to the performance and cost requirements of downstream customers, in order to help customers achieve the best cathode material solutions for high performance and low cost.

It is understood that the solid-phase process adopted by Ronbay has the advantages of both solid-phase and liquid-phase methods, and features better material properties and lower investment and production costs. The products produced by the second-generation process has been highly recognized by downstream customers for their good test results.

In 2023, Ronbay implemented its global development strategy of LMEP. It plans to build a capacity of 140,000-ton-per-annum and 560,000-ton-per-annum LMEP at home and abroad by the end of 2025 and the end of 2030 respectively; It also stated that it will make full use of its first-mover advantage in the global new energy industry chain to promote capacity building in Asia, Europe and the United States and maintain its leading position in global development of the industry by seizing the opportunities in the overseas market.