Shenzhen Staropower New Materials Co., Ltd.

Staropower plans to invest up to 2 billion yuan to build a lithium-ion battery separator plant in Europe, with three phases. Phase 1 in Sweden will invest about 130 million yuan to build four coated separator lines with annual capacity of 80 million square meters, expected to start production in the first half of 2022.

Staropower plans to invest 100 billion yuan in Nantong Economic and Technological Development Zone to build a lithium battery separator R&D and production project, with three phases totaling 3 billion square meters of wet separator and coated separator capacity per year. Phase 1 and 2 will build 12 wet separator lines for 2 billion square meters capacity, with construction starting by end of September 2021 and production starting January 2023.

Staropower (Shenzhen Staropower New Materials) has signed a supply guarantee agreement with LG Energy Solution to supply wet-coated lithium-ion battery separator materials, valued at approximately 43.11 billion yuan, effective for 4.5 years.