GEM Co (SHE:002340) signed an agreement with Ningbo Eastern Institute of Technology to jointly establish a solid-state battery cathode material joint laboratory.

The waste resource comprehensive utilization company will invest 30 million yuan over five years, with 20 million yuan going to lab construction and operation and 10 million yuan for pilot-scale conversion, according to a weekend filing with the Shenzhen bourse.

The lab will focus on cathode materials, interface modification, battery assembly and recycling of spent solid-state batteries.

GEM shares fell 5% in recent trade.