Akeli: Terminate the construction of 20,000 tons/year polyetheramine project

Latest News: On September 16, Wuxi Akeli Technology Co., Ltd. issued an announcement on the proposed cancellation of the investment agreement with the Taixing Economic Development Zone Management Committee, terminating the management of the company and Taixing Economic Development Zone in 2021 All relevant investment agreements signed by the committee agreed to terminate the project of “20,000 tons of polyetheramine per year and 30,000 tons of optical materials (cycloolefin monomers and polymers)” to be built in Taixing Economic Development Zone.

Origin of the project

On May 25, 2021, Akeli reviewed and approved the “Proposal on the Company’s Proposed Signing of an Investment Agreement with the Taixing Economic Development Zone Management Committee”. Polyetheramine, an annual output of 30,000 tons of optical materials (cycloolefin monomers and polymers) project”, including “20,000 tons of polyetheramines, 30,000 tons of optical materials (cycloolefin monomers and polymers), 300t/a high-purity silicon Sol, 20t/a special high heat-resistant resin, 5,000t/a modified epoxy resin, 25,000t/a polyether”.

Reason for project termination

After the project is filed, the company will gradually carry out the work of compiling the project’s safety assessment, environmental assessment, energy assessment and other evaluation reports. However, due to the epidemic, the concentration of production bases in Jiangsu, the adjustment of downstream customers of main products, and the guarantee of supply chain, etc.
In addition, the company prudently decided to cancel the investment after considering other factors, and terminated the planned construction in Taixing Economic Development Zone with an annual output of 20,000 tons of polyetheramine and an annual output of 30,000 tons of optical materials (cyclic olefin mono
body and polymer)” project, and reached a preliminary agreement with the Taixing Economic Development Zone Management Committee.