(Yicai) May 30 -- Capchem Technology has secured a lithium battery electrolyte order from an overseas power battery manufacturer that is expected to bring the Chinese fine chemical products supplier a total revenue of USD316 million.

Capchem will supply the client with certain lithium-ion battery electrolyte products between next year and 2030, the Shenzhen-based company announced yesterday.

The customer is a battery maker with respectable financial status, thus it has the capability to fulfill the agreement, Capchem noted, without revealing any further details.

The supply deal will facilitate the establishment of a long-term and stable cooperative relationship between the pair and enhance Capchem’s market influence and core competitiveness in the international lithium battery electrolyte supply chain, the firm added.

Capchem has received several overseas orders in the past years. In 2021, it signed a long-term lithium battery electrolyte supply agreement with Ultium Cells, a battery-making unit of General Motors. Last November, its factory in Poland signed a 10-year electrolyte supply deal with the power battery subsidiary of a German automotive manufacturer.

Capchem has been also actively investing in overseas production bases in recent years. The company built a lithium-ion battery electrolyte plant in Poland that came on stream last year. Moreover, it had previously announced plans to build new factories in Ohio, the US, and the Netherlands respectively.

On May 21, Capchem also unveiled a new plan to invest USD350 million to build a lithium battery electrolyte plant in Louisiana, the US.

Capchem’s shares [SHE: 300037] were trading up 0.2 percent at CNY30.52 (USD4.29) as of lunch break in Shenzhen today.

Editor: Futura Costaglione