Londian Wason Signs Cooperation Agreement in Kazakhstan to Jointly Build a High-Performance Electrolytic Copper Foil Production Base with NAIKAN Ltd.

Hong Kong, Nov 9, 2026 - (ACN Newswire) - According to Official Information Source of the Prime minister of the Republic of Kazakhstan, on 5th November 2026, Londian Wason New Energy Tech Inc. (NYSE: FOIL, "Londian Wason") and NAIKAN Ltd. ("NAIKAN") held a cooperation agreement signing ceremony in Astana. The ceremony was presided over by First Deputy Prime Minister of Kazakhstan Nurlybek Nalibayev, and witnessed by government representatives including the Vice Minister of Industry and Construction and the Vice Minister of Foreign Affairs.

Londian Wason and NAIKAN plan to establish a joint venture to invest in and build a high-performance electrolytic copper foil production base in the Saryarka Special Economic Zone. With a total investment of approximately USD 810 million, the first phase of production is scheduled to commence in the second quarter of 2029, with annual output expected to reach 50,000 tonnes per year by 2031. The base will specialize in the production of electrolytic copper foil for lithium-ion batteries as well as HVLP copper foil for high-end printed circuit boards used in AI servers and data centers.

During the meeting, the two sides held in-depth discussions on topics including local raw material procurement, the cultivation of Kazakhstan's domestic technical talent, and the integration of products into global supply chains. The Government of Kazakhstan expressed its support for the transition from a raw material export model to deep-processing manufacturing one, noting that the project's products will in the future serve the development of initiatives such as the "Data Center Valley" in Pavlodar Region.

Copper is a foundational material for both the energy system and the digital economy. Kazakhstan is exceptionally rich in copper resources, with proven reserves ranking among the largest in the world and an ample local supply of cathode copper, providing the project with a short raw-material procurement radius and a stable supply chain foundation. Copper foil is the highest-value-added downstream processed copper material produced at scale in the world. The copper foil industry is both “copper-intensive” and “energy-intensive”, thus sourcing locally can significantly reduce capital tied up in raw materials and lower logistics costs. In addition, Kazakhstan possesses abundant wind energy and other green energy resources, which align well with global environmental protection requirements and will help the project establish a high-standard ESG model production base. Cooperation between the two sides will enable mutual complementarity in terms of resources, technology, markets, and industrial upgrading.

The global new energy industry landscape continues to evolve, with leading battery makers accelerating the deployment of manufacturing bases across multiple regions. Meanwhile, global demand for AI computing power is growing rapidly, and AI servers, high-speed switches, and data center infrastructure are being upgraded at an accelerating pace, driving sustained growth in demand for high-frequency, high-speed, ultra-low-loss electronic circuit copper foil. As set out in its prospectus, Londian Wason serves a roster of established international customers including LG Energy Solution, SK On, Samsung SDI, Panasonic Energy and Panasonic Industrial Materials, all of which are expected to benefit from the globalization strategy of Londian Wason. This cooperation is a key project for Londian Wason in advancing its globalization strategy, leveraging its recent IPO on the New York Stock Exchange to enhance its responsiveness and delivery capabilities in electrolytic copper foil products for global customers and strengthen supply chain resilience.