Shenzhen Dynanonic (300769.SZ) plans to jointly invest with ICL in building a lithium iron phosphate project in Spain. The total investment is expected to be 285 million euros.

Shenzhen Dynanonic (300769.SZ) announced that, in accordance with the company's development strategy, the company has signed a Joint Venture Agreement with Amsterdam Fertilizers B.V. (referred to as "Amsterdam Fertilizers") through friendly negotiations. The company and Amsterdam Fertilizers intend to jointly increase capital in ICL BM, S.L. (referred to as the "project company"). After the capital increase, Amsterdam Fertilizers will hold 80% of the shares in the project company, while the company will hold 20%. The project company will mainly produce lithium iron phosphate, with a projected total investment of 285 million euros. It is reported that Amsterdam Fertilizers is a subsidiary of ICL Group Ltd., a global leading specialty minerals company that provides impactful solutions for sustainable development challenges in the food, agriculture, and industrial markets. ICL Group Ltd. utilizes its unique bromine, potash, and phosphate resources, global professional workforce, and research and technology innovation capabilities focused on sustainable development to drive growth in end markets. Based on the future prospects of the new energy lithium battery industry and the company's development plans, the company's joint venture with ICL to establish the lithium iron phosphate project in Spain will help leverage the strengths and resources of both parties in their respective fields, expand the company's overseas market, achieve closer supply to overseas customers, further enhance the company's overall competitive strength, and help the company achieve its corporate vision of "becoming a global leading provider of new energy materials solutions."