Rouse and its network firm in China, Lusheng Law, have advised Phinergy Ltd of Israel in a deal with Yunnan Aluminium Co Ltd and Shanghai Zuoyong New Energy Technology Co on the formation of a joint venture in China to manufacture aluminium-air batteries. The deal represents a world-first commercialization of Phinergy's aluminum-air batteries, and reflects the leading role that China plays globally in the development of batteries for new energy vehicles and other applications.
The deal, which was publicly disclosed by Yunnan Aluminium (Shenzhen stock code YLGF 000807) on 28th February 2018, involves formation of a Chinese equity joint venture, Phinergy Chuangneng Metal-Air Battery Co, based in Kunming, Yunnan, with a registered capital of RMB 813,815,300 (approx. USD 128M). The transaction involves three parties - Phinergy, holding 32%, a pioneer and leader in energy technologies especially aluminum-air batteries, ? Yunnan Aluminium, holding 32%, a state-owned aluminium producer, and Shanghai Zuoyong, a financial investor in new energy technologies holding 36%.
Rouse veteran Chris Bailey, who leads the firms Technology Consulting practice in China, and Lusheng partner Jin Ling, who leads Lusheng's IP Transactions team, along with Lusheng Senior Associate Jacqueline Zhao, represented Phinergy in drafting and negotiation of the core agreements in collaboration with Phinergy's senior management and Israeli counsel. Jin Ling, who has previously served in the Legislative Affairs Office of the State Council, China's highest legislative body, has particular experience in navigating technology transactions with state-owned enterprises, which are subject to more official oversight. The deal was further complicated by the multi-stage and cross-border transactions involved.
Chris Bailey commented "this was an exciting deal to be involved in, being groundbreaking technology that will be launched first in China. The parties to the JV all had a compelling strategic rationale to enter into the deal, and the parties moved quickly, but launching brand new technology always carries risks, so the negotiations had to overcome the inevitable trust barriers for all parties. We are seeing a new wave of technology joint ventures in China and this deal serves as a good model for how it should be done."
Jin Ling commented “Although I have assisted clients in numerous cross-border deals in China over the past 18 years, I found this experience very rewarding, in particular due to the unique structure of the deal, the background of the parties and particularly the insight into Israeli culture.”
About us
Rouse is a leading global IP consultancy, operating as a closely integrated network to provide the full range of intellectual property services, from patent and trade mark protection and management to commercialisation, global enforcement and anti-counterfeiting.
Lusheng Law Firm (“Lusheng”) is a Chinese law firm, a member of the Rouse network, specialising in Intellectual Property (IP) law and litigation. It is also a patent agency authorised by the State Intellectual Property Office (SIPO). With offices in Beijing, Shanghai, and Guangzhou. Lusheng provides top quality specialised legal and patent agency services to clients throughout China. We have been involved in a range of leading IP cases in China, from patent and trade mark cases to cases involving trade secrets and unfair competition. Several of these cases have been recognised as leading cases by the Courts and granted ‘best case’ awards by various IP institutions.
Awards
Rouse China, in association with Lusheng law firm, a member of the Rouse network, has a strong presence in China. Rouse is also known for its client care, a recent accolade was the WTR 1000 Recommended foreign firm from 2014-2018, Tier 1 for Foreign Patent Firms in China from 2012 to 2016, and 2018 by MIP Survey, Tier 1 for Foreign Copyright Firms in China in 2013, 2014, and 2015, Tier 1 Foreign Firm in Intellectual Property in China by AP Legal 500 from 2008 to 2015, Highly Recommended Firm by IAM Patent 1000 through 2012 to 2016. Meanwhile, Lusheng Law Firm has been awarded the Outstanding IP Litigation Team of China in 2013, 2015 and 2017 by CIP Magazine.
