SkyMoon Technology Changes Name to 'Pino' to Fully Launch Secondary Battery Material Business
SkyMoon Technology is changing its company name and corporate identity (CI) to fully transform into a specialized company in secondary battery materials.
On the 13th, SkyMoon Technology held an extraordinary general meeting of shareholders and passed a resolution to change its company name to 'FINO'. It also approved the establishment of regulations related to convertible bonds (CB) and bonds with warrants (BW).
The new name FINO is derived from the initials of 'Future Innovation'. With full support from its largest shareholder, CNGR, the global leader in precursor materials, the company is determined to become a core materials company related to secondary batteries.
SkyMoon Technology is entering the precursor business for nickel, cobalt, and manganese (NCM), the key materials for cathode active materials, as a new business. It plans to secure competitiveness through cost reduction by vertically integrating the entire process from raw material procurement to precursor production. Additionally, the company aims to expand the secondary battery-related value chain by entering the secondary battery recycling business in the future.
A company representative stated, "This name change was carried out to build a new image aligned with transforming into a secondary battery materials company in cooperation with the largest shareholder CNGR. Along with the name change, we will actively transition into a secondary battery materials company and pursue aggressive investments."
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Meanwhile, CNGR holds about a 25% global market share in ternary precursors, ranking first in the industry. To establish a production system in Korea, CNGR is expanding investments by signing memorandums of understanding (MOU) and joint venture agreements (JVA) with leading domestic secondary battery companies. It has established 'POSCO CNGR Nickel Solution' and 'CNP New Materials Technology' with POSCO Holdings and POSCO Future M, respectively, to engage in high-purity nickel manufacturing and sales and the establishment of precursor production plants for secondary batteries.
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