SK Materials Strengthens 'Next-Generation Battery Materials'... Invests 15 Billion KRW in US Battery Material Venture

Strengthening Electric Vehicle Battery Materials Sector
Development of Anode Material Technology Using Silicon Instead of Graphite

[Asia Economy Reporter Hwang Yoon-joo] SK Materials has decided to invest approximately 15 billion KRW in a U.S. battery materials venture company. This move is interpreted as an effort to lead the competition in developing new materials for electric vehicle batteries.

An SK Materials official stated on the 22nd, "We have decided to invest about 15 billion KRW (17 million USD) in Group14 Technologies (Group14)." Group14 is a battery anode material research and development venture company established in 2015.

Group14 is currently developing the lithium-silicon battery material SCC55™. The company is well known for developing next-generation batteries using silicon instead of graphite. SCC55™ is reported to increase battery capacity by five times and energy density by up to 50%.

Group14 plans to use the funds invested by SK Materials to expand the production of SCC55™. They have completed pilot production and plan to supply electronic products in the first quarter of next year. Afterwards, they intend to expand their supply to electric vehicles.

With this investment, SK Materials has strengthened its competitiveness in high value-added materials business, extending from semiconductors to batteries. In February, SK Materials acquired the electronic materials division (photoresist manufacturing technology) from Kumho Petrochemical. Industry insiders expect SK Materials to actively pursue mergers and acquisitions (M&A) next year to further expand its high value-added materials business.

This content was produced with the assistance of AI translation services.