Hydro Lithium Completes Purchase of 25 Tons of Lithium Carbonate... Lithium Plus Business Collaboration Kicks Off

[Asia Economy Reporter Jang Hyowon] Hydro Lithium (formerly Korea SE) announced on the 27th that it has purchased 25 tons (t) of lithium carbonate for its full-scale lithium business. The purchased quantity will be used as raw material by its affiliate Lithium Plus to produce battery-grade lithium hydroxide.

A company official stated, "We have completed the purchase and payment for 25 tons of lithium carbonate for the production of battery-grade lithium hydroxide," adding, "The purchased raw materials will be actively utilized alongside the operation of the lithium hydroxide mass production plant in Geumsan-gun, Chungnam."

Lithium Plus completed the building use approval on the 13th after finishing the construction of its battery-grade lithium hydroxide plant with 99.99% purity. To negotiate supply with major domestic and international customers, the company is cleaning from the raw material input point to the finished product production process and inspecting equipment in preparation for full-scale production.

As the global lithium shortage intensifies, sales of lithium hydroxide by Lithium Plus are expected to proceed smoothly. Large domestic companies related to cathode materials have also dispatched employees to the Geumsan plant to check whether they can receive a stable supply of lithium hydroxide.

A Lithium Plus official said, "Once lithium hydroxide mass production begins, sales will be possible from small and medium-sized enterprises to large corporations," adding, "Starting with raw material purchases and finished product sales, we plan to expand business cooperation with Hydro Lithium."

He continued, "The payment for the third-party allotment capital increase of WI by affiliate Lithium Insight is also scheduled to proceed as planned on the 31st."

Lithium Plus acquired management rights of Hydro Lithium and completed payment for a third-party allotment capital increase worth 7 billion KRW. On the 13th, Korea SE resolved at an extraordinary general meeting of shareholders to change its company name to Hydro Lithium. The listing change date is scheduled for the 1st of next month.

Additionally, Lithium Plus plans to proceed with the scheduled redemption of the bond with warrants (BW) put option (early redemption right) exercised by Husentec. The company explained, "Although the cooperative relationship ends due to issues such as audit opinion denial and management embezzlement and breach of trust, we will actively support the resumption of transactions for Husentec shareholders who trusted and invested in the lithium business."

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