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GEM Group, a leading manufacturer of new energy battery materials in China, decided to increase capital and build an intelligent manufacturing research base in Wuxi. The GEM power battery materials production base capital increase and new energy materials research institute project was signed and settled down in the Airport Industrial Park of Xinwu District in the city on August 8. Huang Qin, a member of the Wuxi Municipal Party Standing Committee and Executive Deputy Mayor of Wuxi, met the group led by Xu Kaihua, President of GEM Group, and participated in the signing ceremony.
As a leading enterprise in China’s circular economy industry, GEM realized sales volume of over 5 billion yuan in 2015. It has invested more than 300 million yuan in its 1st-phase project in the Airport Industrial Park, and established an advanced production line with annual output of 7,000 ton power battery anode materials, reaching sales amount of 230 million yuan in 2015. This time, the total investment of its capital increase project is 386 million yuan, while the input amount of the workshop in the Airport Industrial Park is 120 million yuan. After the project was completed and put into production, it’s estimated to add 15 thousand ton automotive power battery materials each year. At the same time, GEM will set up a new energy materials research institute in Wuxi, and make it become an exchange platform for experts in the new energy materials field by founding postdoctoral workstation and inviting internationally well-known experts from America, Japan, South Korea and other places to work as researchers and counselors.