XTC New Energy Materials (Xiamen) in Xiamen FTZ. [Photo/WeChat account of Xiamen FTZ]
XTC New Energy Materials (Xiamen), based in the Xiamen Free Trade Zone, recently announced two investment plans totaling nearly 1.8 billion yuan ($253 million).
The company intends to invest 600 million yuan to establish a wholly-owned subsidiary, Xiamen Canghai New Energy Materials. This subsidiary will be responsible for constructing a project with an annual production capacity of 50,000 metric tons of high-performance battery materials. The construction period is scheduled from November 2025 to December 2029, with a total investment of approximately 1.53 billion yuan for this project.
This project will allow the company to expand its production capacity for high-performance battery materials. It will further consolidate XTC's position in the industry's top tier, enhance its technological innovation capabilities, bolster its market leadership, and strengthen its overall market competitiveness.
Concurrently, Xiamen XTC Hydrogen Energy, another wholly-owned subsidiary of XTC, plans to invest 237 million yuan in a project to establish an annual production capacity of 5,000 tons of hydrogen energy materials and 7,000 tons of functional materials. With a construction cycle of 26 months, the project is scheduled to commence operation in January 2028.
This project aims to enhance the production efficiency of hydrogen storage alloys and seize opportunities in emerging markets like hydrogen transportation and energy storage by establishing a solid-state hydrogen storage device production line. It also addresses issues such as high procurement costs for functional materials and limited supplier development.