Samyang makes additional investment in Solid Ionics

Samyang makes additional investment in Solid Ionics

Investing in the development of solid electrolytes and main ingredient lithium sulfide

  • By ICN Bureau | April 01, 2024

Samyang Corporation has made additional investments in Solid Ionics, a solid electrolyte development and manufacturing company, to enter the all-solid battery material business in earnest.

Samyang announced that it had signed an investment contract worth 3 billion won with Solid Ionics at the headquarters of Samyang Group in Jongno-gu, Seoul the previous day. In 2020, Samyang invested 2.9 billion won in the company. With the expansion of Samyang's investment, the total investment has increased to 5.9 billion won.

With this investment, Samyang secures a position in the solid-state battery industry by adding solid electrolytes and lithium sulfide (Li2S), key materials for solid-state batteries, to its business portfolio. This move also accelerates the commercialization of products under development by Solid Ionics.

Solid Ionics is preparing for mass production of solid electrolytes used in sulfide-based solid-state batteries. The company holds a patent for the production of lithium sulfide, the primary material, ensuring a stable supply of materials and competitive pricing.

Solid Ionics plans to complete a production plant in Ulsan by 2027, capable of producing 1,200 tons of sulfide-based solid electrolytes annually, as it gears up for the final commercialization tests with solid-state battery developers.

"Solid electrolytes are the most critical component in solid-state batteries, and numerous companies globally are racing to develop them," said CEO Ho-sung Kang. He added, "This investment will serve as a stepping stone for Samyang's full-scale entry into the solid-state battery materials business, with plans to expand our battery materials portfolio in the future."

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