On May 15, 2024, Sinochem Environmental Engineering (Shanghai) Co., Ltd. (hereinafter referred to as "Shanghai Environmental Engineering"), Sinochem Green Private Equity Fund Management (Shandong) Co., Ltd. (hereinafter referred to as "Sinochem Capital Ventures") and Shanghai LifenGas Co., Ltd. (hereinafter referred to as "LifenGas") signed a strategic cooperation agreement. The signing of this agreement aims to jointly promote the resource utilization of waste hydrofluoric acid, with the goal of achieving the sustainable circulation of fluorine resources in the fields of photovoltaic cells and semiconductors. Additionally, the agreement seeks to promote the formulation and standardized development of waste hydrofluoric acid recycling product standards.
Sinochem Environmental Engineering (Shanghai) Co., Ltd. is a wholly-owned subsidiary of Sinochem Environment Holdings Limited. It is a leading company in the solid and hazardous waste disposal and resource utilization sector, with expertise in four key areas: industrial solid and hazardous waste disposal and resource utilization, organic solid and hazardous waste resource utilization, soil health, and environmental stewardship services.
The company's core capabilities include process technology design, system integration, core equipment research and development and technology transformation, operation management, comprehensive consulting, and more. The company is dedicated to developing a comprehensive industry chain and becoming a leading solid and hazardous waste environmental service provider.
Shanghai LifenGas Co., Ltd. was established in 2015 and is a leading provider of gas separation, purification, and technical services for high-value gases and wet electronic chemicals in the semiconductor, solar photovoltaic, and new energy industries. Its cryogenic argon recovery system, the first of its kind in the world, has a market share of over 85%.
Sinochem Green Private Equity Fund Management (Shandong) Co., Ltd. is a private equity fund manager under Sinochem Capital Innovation Investment Co., Ltd. The Shandong New Energy Sinochem Green Fund managed by the company will complete its equity investment in Shanghai LifenGas in 2023. Sinochem Capital Ventures is a unified management platform for Sinochem's industrial fund business. It aggregates social capital, invests in Sinochem's core industrial chain, focuses on the two major directions of new chemical materials and modern agriculture, collaborates with the industry to invest in high-quality projects, explores and cultivates emerging industries, and opens up a second battlefield for Sinochem's industrial innovation and upgrading.
Hydrofluoric acid is an indispensable wet chemical for solar photovoltaic cells and the silicon semiconductor industry. It is a key component in the production of these products and its replacement would have a significant impact on the industry. Fluorite is the primary source of hydrofluoric acid. Due to its limited reserves and non-renewable nature, the country has implemented a series of policies to restrict the mining of fluorite, which has become a strategic resource. The traditional fluorine chemical industry has been significantly impacted by resource constraints.
Shanghai LifenGas' recycling technology has reached a pioneering level in the field of hydrofluoric acid, relying on the vast knowledge and theoretical support, as well as the company's rich experience. Shanghai LifenGas’ waste hydrofluoric acid purification and refining technology enables the recycling of the majority of hydrofluoric acid, as well as a significant amount of water. This reduces the cost of sewage discharge and optimizes the use of fluorine resources, as it turns waste hydrofluoric acid into raw materials. Furthermore, it minimizes the adverse effects of sewage discharge on the environment, thereby realizing the vision of a harmonious coexistence between humans and nature.
The successful signing of this strategic partnership will result in the three parties jointly committing to the in-depth research and development, technology upgrading, and market promotion of waste hydrofluoric acid recycling technology. They will also actively participate in and promote LifenGas hydrofluoric acid recycling and resource utilization projects in Shijiazhuang, Hebei, Anhui, Jiangsu, Shanxi, Sichuan, and Yunnan. These projects will be implemented and put into production as soon as possible.
Post time: Jun-01-2024
