Mr. Qin Jiusan, Chairman of Capchem, Attend the Banquet of the “SelectUSA Investment Summit” upon Invitation

On September 22, upon invitation of the U.S. Ambassador to China Mr. Nicholas Burns, Mr. Qin Jiusan, Chairman of Capchem, went to the U.S. Ambassador Residence in Beijing to attend the banquet of the “SelectUSA Investment Summit”.

In his opening speech at the banquet, Ambassador Burns reviewed the history of the establishment of the China-US diplomatic relations, and expressed his expectation for Chinese companies to invest in the United States and promote mutual benefits and win-win in economy between China and the United States. During the banquet, Chairman Qin introduced to Ambassador Burns the investment projects of Capchem in Ohio, United States, and U.S. Gulf Coast. Ambassador Burns stated that he would definitely like to pay a visit to Capchem if he had a chance.

Mr. Nicholas Burns, the U.S. Ambassador to China (first from the right), and Mr. Qin Jiusan, Chairman of Capchem (first from the left), communicated and took a group photo at the banquet

In the context of a global trend of carbon neutrality and the rapid growth in the penetration rate of new energy vehicles (NEVs), the United States becomes one of the markets with huge potential for incremental growth of the NEVs, and also a key link of Capchem to carry out its international strategy. At present, the investment project of battery chemicals production base of Capchem in Ohio, United States covers an area of about 100,000 square meters, with a total investment of approximating to USD120 million. The Project includes two phases, and the phase-I has an investment about USD75 million and is estimated to be put into production in 2025. After the completion of the Project, the growing demand for electrolytes for lithium-ion batteries and other battery chemicals in the U.S. market will be further satisfied, which will help improve Capchem to give rapid response to the U.S. customers, and accelerate the implementation of Capchem’s international strategy.