MGL accelerates cathode material capacity expansion

Tianjin Guoan Mengguli New Materials Science & Technology Co., Ltd. ("MGL") announced plans to raise RMB980 million (USD138 million) through a private placement to fund its 30,000tpa lithium battery cathode materials project with annual production capacities of 15,000t of ultra-high-nickel ternary materials, 10,000t of NCA, and 5,000t of high-voltage lithium cobalt oxide.

MGL has already applied for or secured key patents covering these materials. From 2022 to 2024, the company invested nearly RMB193 million (USD27.1 million) in research and development to support the implementation of the project.