Hold Fortune（Beijing）Industry Co.,Ltd. and Jiangxi Rare Earth and Rare Metal Tungsten Group Co., Ltd. jointed and setted up the Jiangxi Tungsten Hold Fortune Sci. & Tech.Co., Ltd. at July 8, 2008. Production technology of high-performance hydrogen storage alloy was offered by Hold Fortune (Beijing) Industry Co.,Ltd., and the capital was offered by Jiangxi Rare Earth and Rare Metal Tungsten Group Co., Ltd.. A production base is building in the National Hi-Tech Development Zone of Nanchang, and its annual output will be 5000 Tons.The major achievement about energy-saving and new energy automobile of 863 project was transformed in time.

The gross capital of this construction project is 176,720,000 yuan, which is to make the achievement of 863 project industrialization and creat the largest production base of hydrogen storage alloys in the world. Hydrogen storage alloy with high specific capacity, favorable high current charge-discharge ability, high and low temperature performance will be produceed, which can meet military, electric vehicles and export’s requirements. It can replace the top products abroad gradually and obtain good economic benefits.

  At October 22, 2008, on the project construction site of Jiangxi Tungsten Hold Fortune Sci. & Tech.Co.,Ltd. in the Hi-Tech Industrial Development Zone of Nanchang, the commissioning ceremony of about twenty one major projects such as hydrogen storage alloy was held. Nanchang Municipal Party Committee, Municipal Government, the Municipal People's Congress, People's Political Consultative Conference, and part of the city directly leadership of relevant departments had attended the ceremony. The ceremony was hosted by the People's Government of Nanchang, undertook by Jiangxi Tungsten Hold Fortune Sci. & Tech.Co., Ltd. Nanchang Deputy Party Secretary, Municipal People's Government mayor Hu Xian announced: 9 projects such as hydrogen storage alloy of Jiangxi Tungsten Hold Fortune Sci. & Tech.Co., Ltd. have been started its construction, and other 12 projects have been put into operation.

   At present, the construction goes well. A production line of annual output of 2,000 tons hydrogen storage alloy powder is expected to be completed in June 2009 and put into operation. The first-stage is to make the hydrogen storage alloy production base domestic top-ranking, not only the technology, equipment, but also the industry scale. The second-stage project with an annual output of 5,000 tons of hydrogen storage alloy powder production line is expected to be completed in June 2011 and put into operation. Then the project will be international leading.

  With the support of "11th Five-Year" 863 project of energy-saving and new energy automobile, “high-power batteries cost of the development of hydrogen storage alloy” undertook by Hold Fortune(Beijing) Industry Co., Ltd. had achieved important achievements. Its product has been used to service hybrid electric vehicle of 2008 Olympic Games. Transformation of the 863 project’s achievements into practical productive forces can promote Hold Fortune (Beijing) Industry Co., Ltd and Jiangxi Tungsten Hold Fortune Sci. & Tech.Co., Ltd.’s strength. It can promote not only the transformation of Chinese scientific and technological achievements, but also the transformation from resources export to high value-added products export. It can also make great contribution to the environmental protection industry.