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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] EcoPro Innovation announced on the 11th that it has signed a long-term contract with Samsung SDI to supply approximately 154,000 tons of lithium hydroxide.
Through this contract, EcoPro Innovation will supply approximately 154,000 tons of lithium hydroxide to Samsung SDI's domestic and Hungarian facilities by 2033.
EcoPro Innovation has secured the technology to convert lithium hydroxide for cathode materials. Since October 2021, they have been the first in Korea to refine, convert, and grind lithium for mass production of lithium hydroxide for secondary batteries, supplying the production volumes to EcoPro BM and Samsung SDI.
In addition, EcoPro Innovation is in discussions with overseas automobile OEMs and secondary battery companies to expand its sales volume.
Particularly, with the implementation of the U.S. Inflation Reduction Act (IRA), which strengthens the movement to reduce dependence on China, EcoPro Innovation is gaining significant attention in the market as it can produce IRA-compliant products.
EcoPro Innovation is also developing lithium extraction technologies. In June 2021, EcoPro Innovation and Australian lithium company Ioneer signed a long-term supply contract for 7,000 tons of industrial lithium carbonate annually, which is expected to be produced in Nevada, USA. In October last year, they signed a Memorandum of Understanding (MOU) regarding the development of a lithium mine in Nevada and agreed to jointly develop technology to extract lithium from lithium clay to produce lithium hydroxide.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
