CHANGZHOU, China, July 20, 2016 /PRNewswire/ -- Changzhou National Hi-Tech District signed an agreement on July 9th, under which China's largest aerogel materials manufacturing base will be established in the district. Changzhou National Hi-Tech District plans to put in a dedicated effort to bring in more than 10 aerogel production facilities within five years, with the expectation of generating an output value estimated at 10 billion yuan (approx. US$1.5 billion).
According to the agreement, Hongda Technology (Beijing) Co., Ltd. will set up an aerogel material manufacturing facility in Changzhou National Hi-Tech District, to incubate, foster the environment for and bring in new aerogel material application projects. The facility is expected to have an annual production capacity of 30,000 cubic meters of aerogel. The first project will be a production facility for aerogel-based home appliance insulation board jointly invested by Changzhou Leshi Leili Motor Co., Ltd. and Hongda Technology, with testing products already having been developed.
Changzhou National Hi-Tech District has also joined hands with Puhe Capital in setting up a fund valued at 2 billion yuan (approx. US$300 million) for the development of a new aerogel material industry, with 500 million yuan (approx. US$75 million) allocated to the first phase of development. The fund aims to lead and promote the development of the aerogel industry through the leveraging of government and business resources, with the goal of bringing about the transformation of the new material industry at Changzhou Binjiang Economic Development Zone, as well as facilitate the capitalization of projects developed in the zone.
Aerogel is a new material widely used in the aerospace, pharmaceutical and construction industries. It is a promising and super thermal insulation material, and an ideal material for acoustic delay or high-temperature insulation. Aerogel can be used in new catalysts or as a carrier of a catalyst as well as to remove pollutants found in water. It also has applications within the energy storage sector.
SOURCE The Public Promotion Department of Changzhou Xinbei District Commission of CCP