(Yicai Global) July 24 -- Jiangsu Zhihang New Energy Co., a Chinese lithium battery research company, and two China Aerospace Science and Technology Corp. (CASC) institutes have signed a civil-military cooperation agreement to jointly develop and produce products such as batteries, battery packs and battery control systems to transfer defense technologies to the private company.

Zhihang New Energy and CASC's No.1 and No. 18 institutes entered a strategic cooperation agreement yesterday, said Zhihang New Energy's controlling shareholder, Zhejiang Unifull Industrial Fibre Co. [SHE:002427]. Unifull said that it holds a 51-percent stake in Zhihang New Energy.

The pact will allow the parties to establish a procurement and supply relationship and set up an industry research institute. The deal will foster technical cooperation, guidance and training. The deal will help Zhihang New Energy make upgrades in pursuit of the new energy sector, increase its technology reserves and enhance its comprehensive competitiveness.

Zhihang New Energy was founded in July 2012 and is a high-tech company that engages in research and development, production, sales and service of products such as lithium battery anode materials, lithium batteries and battery packs, Unifull said. CASC's No. 18 institute is a research center for precision electromechanical control equipment and is a professional technical hub for China's aerospace industry. In its more than 50 years, it has amassed a workforce of 1,600 employees including one Chinese Academy of Engineering professional and two state-level experts.