The planned annual capacity of Zoolnasm's manufacturing facility includes 20 GWh of sodium-ion battery cells and 10 GWh of sodium-ion battery systems.

The production base will be built in two phases, with the first phase covering an area of about 323 mu, with an investment of RMB 4 billion, and is expected to be completed in August next year, with an annual capacity of 10 GWh of sodium-ion battery cells.

Zoolnasm did not mention the construction schedule of the second phase of the production base.

Zoolnasm was founded in January 2021 and is located in Suzhou, Jiangsu province in eastern China. The company's scientist, Zhao Jianqing, has fifteen years of experience in sodium-ion battery research and development and holds a number of leading patents, according to its website.

The company has successfully developed three sodium-ion battery cathode material preparation technologies, and its soft-pack battery samples have been tested by a third party and have performance indicators that far exceed those of competing products, it said.

On March 4, 2022, Zoolnasm announced that it had secured a new round of financing in which Country Garden Venture Capital, the venture capital arm of real estate giant Country Garden, was the exclusive investor.

The company did not announce the amount of the financing, but said they will be used to expand the R&D and mass production technology team.

($1 = RMB 7.1747)

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