Baotou Zhongke Xuanda New Energy Technology Co -- based in Baotou city in Inner Mongolia autonomous region -- formally joined hands with Beijing CAS Star Hard Technology Venture Capital Partnership at a signing ceremony on Dec 25, according to a report in the Baotou Daily.

Under the agreement, CAS Star is to invest 8 million yuan ($1.15 million) to support Zhongke Xuanda’s R&D, production and marketing of new rare earth Mg-Ni based hydrogen storage alloy materials – as well as key materials for new energy power batteries.

It will also provide guidance and planning for Zhongke Xuanda in terms of governance systems, equity systems, recruiting, team building and future development.

CAS Star is the first social science and technology capital company to locate operations in Baotou Rare Earth High-Tech Industrial Development Zone.

Zhongke Xuanda is a technology-based enterprise founded in 2017 by the Baotou Rare Earth R & D Institute at the Chinese Academy of Sciences.

Zhongke Xuanda successfully launched a new rare earth hydrogen storage alloy electrode production line -- with the support of the Science and Technology Department of Inner Mongolia, the science and technology bureau of Baotou and Baotou Rare Earth High-Tech Industrial Development Zone. 

The project is based on research on new rare earth hydrogen storage alloys, developed by Yanshan University.

Zhongke Xuanda has independently developed and designed industrial production processes, technical equipment designs, new product applications technology and marketed the product.

Officials said the project was successfully completed in December 2018, marking China's first new rare earth hydrogen storage technology production line with independent intellectual property rights.

The products met the design requirements and were applied and promoted to many nickel-metal hydrid battery companies.

Compared with the traditional AB5 hydrogen storage alloy electrode materials, the new rare earth hydrogen storage alloy material developed by Zhongke Xuanda increases the battery capacity by more than 30 percent, officials said.

The battery’s process performance, dynamic performance, and low-temperature characteristics are greatly improved.

The Baotou company’s product is a key material for the production of high-capacity, wide temperature range and low power consumption nickel-metal hydrid power batteries.