Termination of Key Partnerships Reflects Challenges in Solid-State Battery Industry

The termination of two major partnership projects highlights the 'technology-capital mismatch' dilemma faced in the early stages of solid-state battery industrialization. Recently, Anfu Technology announced the halt of its plan to jointly establish a pilot platform for new battery technologies. In March, Anfu Technology's subsidiary, Nanfu Battery, had planned to sign a joint venture agreement with Nanping Green Industry Investment Fund and Gaoneng Times to create a new pilot platform to promote the research and industrial application of all-solid-state battery technology. However, due to uncertainties regarding the stability and performance of one of the partners, Gaoneng Times, the project faced significant operational risks. Anfu Technology clarified that neither it nor the Nanping Green Industry Fund breached any agreements. Meanwhile, another company, Lihu Co., also announced the termination of its collaboration with Gaoneng Times, which was aimed at entering the solid-state battery field. The agreements involved setting up a joint laboratory and a limited liability company for the development of industrial technologies related to solid-state sulfide batteries. Lihu Co. transferred its shares in the joint project to Gaoneng Times for no monetary compensation due to the latter's failure to meet capital contribution obligations. These incidents illustrate the challenges and risks inherent in the solid-state battery sector's collaboration models and technological transition paths.