EV Advanced Materials Steps Up as Savior with 'Lithium Plus,' Korea's First Domestic Lithium Hydroxide Producer

[Asia Economy Reporter Jang Hyowon] Lithium material specialist Lithium Plus announced on the 21st that KOSDAQ-listed company EV Advanced Materials will participate as its strategic investor.

EV Advanced Materials will invest approximately 5 billion KRW in Lithium Plus's convertible bonds (CB) as a strategic investor (SI). These convertible bonds were issued by Lithium Plus to establish factory facilities.

In addition, EV Advanced Materials will support the purchase of lithium carbonate raw materials for Lithium Plus's lithium hydroxide production. Lithium Plus is currently building a mass production facility for high-purity lithium hydroxide, a key secondary battery material, in Geumsan-gun, Chungcheongnam-do.

The company explained that EV Advanced Materials made the strategic investment because it highly values Lithium Plus's technological capabilities and the growth potential of the lithium hydroxide business, a core secondary battery material. Especially, as the global supply shortage of lithium hydroxide intensifies, Lithium Plus's future profitability is expected to increase further.

A Lithium Plus official stated, "We plan to complete and begin trial operation of a lithium hydroxide production plant with an annual capacity of 3,600 tons within the third quarter and start mass production in the fourth quarter." He added, "Starting with the successful completion, we will build a mega high-purity lithium hydroxide production plant with a capacity of tens of thousands of tons to meet domestic lithium hydroxide demand."

Meanwhile, Lithium Plus exercised a 10 billion KRW warrant call option after signing a 10 billion KRW warrant purchase agreement on the 15th with Husentec, which holds 20 billion KRW worth of Lithium Plus's BW (bond with warrants).

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