POSCO Future M breaks ground on first high-nickel cathode material plant in Pohang

POSCO Future M has broken ground on its first dedicated high-nickel NCA (Nickel-Cobalt-Aluminum) cathode material plant.

POSCO Future M held a groundbreaking ceremony for the NCA cathode material Pohang plant on the 28th at the Yeongilman 4th General Industrial Complex in Pohang, Gyeongbuk. Attendees, including Kim Jun-hyung, President of POSCO Future M, Jeong Dae-heon, Head of the Energy Materials Division, Son Dong-gi, Head of the Cathode Material Office, and Kim Kwon, Head of Facility Investment Office (from the fourth person from the left, facing left), are performing the first shovel ceremony.

원본보기 아이콘

On the 28th, POSCO Future M held a groundbreaking ceremony for the dedicated cathode material plant at Yeongilman 4 General Industrial Complex in Pohang, Gyeongbuk, attended by CEO Kim Jun-hyung, Kim Min-cheol, Head of POSCO E&C Plant Business Division, Kim Myung-nam, Head of POSCO DX Pohang EIC Business Office, and other officials.

This plant is a dedicated production facility for high-nickel NCA, built on a 16,000㎡ (approximately 4,800 pyeong) site with a total investment of 392 billion KRW. The goal is to start mass production from 2025, with an annual production capacity of 30,000 tons. This amount can supply approximately 300,000 electric vehicles based on 60kWh batteries.

NCA cathode material is manufactured using lithium, nickel, cobalt, and aluminum as raw materials, and it is a material that maximizes efficiency due to its high battery density and output.

POSCO Future M covers most of the investment cost through the recently issued 'Korean Green Bond.' The cathode material business of POSCO Future M is classified as an activity in the greenhouse gas reduction sector, one of the six environmental goals of the Korean Green Bond, and received eligibility approval for bond issuance, raising 300 billion KRW on the 27th.

Aerial View of POSCO Future M Pohang Cathode Material Plant

원본보기 아이콘

POSCO Future M, which signed a 10-year cathode material supply contract worth 40 trillion KRW with Samsung SDI in January, expects to supply high-nickel NCA cathode materials more stably once this plant is completed.

CEO Kim Jun-hyung said, "The NCA cathode material plant is the first production facility established after the company name change and will be a new starting point toward the future, as the new name implies. We will combine POSCO Group's raw material competitiveness and POSCO Future M's manufacturing capabilities to supply the highest quality products to domestic and international battery markets."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.