On November 21, 2022, the signing ceremony of the strategic cooperation agreement on equipment manufacturing between PT.QMB New Energy Materials (QMB) controlled by GEM and Weiming Environment Equipment Co., Ltd. (Weiming Environment Equipment) was held at QMB Park, Indonesia. Xiang Guangming, Chairman of Weiming Environment; Lee Dong-chae, Chairman of ECOPRO and a shareholder of QMB; and Prof. Xu Kaihua, Board Chairman of GEM and QMB, attended and witnessed the signing ceremony.

On September 26, 2022, Phase 1 of the QMB nickel resources project (30,000 tons of metallic nickel per year), designed with the concept of "technology + intelligence + green", was completed and put into operation. Phase 2 of the project (43,000 tons of metallic nickel per year) has entered the stage of design and key equipment procurement. As a wholly-owned subsidiary of Zhejiang Weiming Environment Protection Co., Ltd. (Weiming Environment) with rich experience in green equipment and intelligent manufacturing, Weiming Environment Equipment was selected as a developer of major environmental equipment encouraged by the State. The cooperation, which marks the full start of Phase 2 of the QMB nickel resources project, will ensure that Phase 2 is completed and put into operation by late 2023. At the same time, the two sides will cooperate in green hydrometallurgical manufacturing equipment, to build the project into a globally competitive high-tech green manufacturing park for laterite nickel ore hydrometallurgy.

In his speech, Chairman Xu Kaihua noted that the signature of this agreement not only marked the full start of Phase 2 of the QMB nickel resources project, but also meant that the exchanges and cooperation between the two sides had extended from China to Indonesia and the world. He said that only cooperation can hedge global competition and challenges, and only common values and friendly cooperation can lead to win-win, which has been best reflected in GEM's cooperation with ECOPRO and Weiming Environment. GEM forged a partnership with ECOPRO early in 2015, and over the past eight years, in the face of constant global crises and challenges, the two sides have kept deepening friendship, consolidating the foundation of cooperation, expanding the green business and increasing mutual investments. Amid intense competition, GEM and Weiming Environment have constantly stepped up industrial cooperation. Weiming Environment is one of the best environmental enterprises in China, and ECOPRO is a world top cathode material manufacturer. Chairman Xu Kaihua expected that relevant sides would promote cooperation with an open mind, and work together to build globally competitive equipment for laterite nickel ore hydrometallurgy, turn out quality nickel, and develop nickel-related new energy under the "carbon peaking and carbon neutrality" strategy, thus forging into a green low-carbon future.

Mr. Xiang Guangming said Weiming Environment would make all-out efforts, and bring together its best equipment R&D and manufacturing teams, to ensure that Phase 2 of the QMB nickel resources project is put into operation as early as possible.

As an old friend and strategic partner of GEM, Lee Dong-chae, a shareholder of QMB and Chairman of ECOPRO, said during the eight years of cooperation with GEM, ECOPRO has developed into a world top cathode material manufacturer with the strong support of GEM. He was pleased to witness the growth of QMB, hoping Phase 1 and 2 of the QMB project, as well as more projects ahead would thrive.

GEM and Weiming Environment sign a strategic cooperation agreement on equipment manufacturing

Prof. Xu Kaihua, Board Chairman of GEM and QMB, addresses the signing ceremony

Xiang Guangming, Chairman of Weiming Environment, addresses the signing ceremony

Lee Dong-chae, Chairman of ECOPRO, addresses the signing ceremony

Lee Dong-chae (1st L, front), Chairman of ECOPRO, visits QMB Park