SPRINTEX China Subsidiary Established

Highlights:

• Chinese production and R&D hub, for clean energy and industrial applications
• New 1,500 sq metre facility in Suzhou, Jiangsu Province, China
• Production capacity 50,000 units per annum of high-speed electric compressors
• Experienced and resourceful operation and technical team recruited
• Sprintex China has received expressions of interest from customers and corporate partners
• 3 years rent free with additional incentives and grants from Chinese Government

Sprintex Limited (ASX: SIX) the international developer, manufacturer, and distributor of the Sprintex® twin screw supercharger and supercharger systems, incorporating the Sprintex® twin screw supercharger, is pleased to announce the establishment of Sprintex Energy Technology (Suzhou).

Jay Upton, Sprintex Managing Director said, “The establishment of Sprintex China opens significant opportunities for Sprintex as it expands its product range internationally. We’ve assembled a strong team and look forward to implementing our expansion strategies.”

Sprintex China will be the engineering centre and production base for Sprintex in China.

Operations will be centred in the newly refurbished building which provides a floor area of 1,500 sqm for the office and factory. The Sprintex China factory provides for production capacity of 50,000 units per annum of high-speed electric compressors. High-speed electric compressors have rapidly increasing demands in clean emission transportation, clean energy, and industrial applications.

Sprintex China has obtained a series of subsidies from the Chinese Government for its high-tech operations and clean energy profile, including three years of free rental subsidised by local government, additional long term project grant incentives, and local tax exemption of up to 80%.

Sprintex China Operations – Go Green, Go Smart

Sprintex China will focus on the development and production of high-speed electric compressors – electric equipment that spins at 100,000 rpm or higher speed to compress and feed clean air or gases. High-speed eCompressors are receiving rapidly increasing demand across the globe for clean energy and industrial equipment upgrading, such as:

• utilisation of electric superchargers in mild hybrid vehicles;
• air compressors in hydrogen fuel cell systems for transportation and distributed energy; and
• high-efficiency air & gas compressors for a wide range of industrial applications.

This development will also open the market for Sprintex’s renowned twin screw compressor in China for automotive and industrial applications.

Sprintex China has recruited an experienced and resourceful operation and technical team from leading turbomachinery, electric motor and car manufacturers, to ensure swift development and production of products. One of Sprintex’s directors, Mr. Li Chen, is based in Shanghai and leads the operations of Sprintex China. Li is a China registered senior engineer with a MEng degree in Mechanical Engineering from University College London.

Sprintex China has already received several expressions of interest from targeted customers and potential corporate partners.