Lotte Expands Reach into Future Anode Material Market After Acquiring Battery Foil Firm

The Lotte Group, having acquired a company producing copper foil - a key component of batteries - is set to enter the market of next-generation anode materials.

Lotte Energy Materials announced on July 16 that they held an equity investment contract ceremony with the French start-up Enwires, a company possessing the technology for silicon anodes for batteries, at the Lotte Ventures headquarters in the Gangnam district of Seoul on July 14. The investment consists of an equity stake in Enwires, contributing 7.9 billion won (US$6.2 million) for the operation of a demo plant.

Lotte Energy Materials is formerly Iljin Materials, the leading copper foil manufacturer in South Korea, which was acquired by Lotte Chemical in October. The company, through Lotte Battery Materials USA, a battery material holding company in the U.S. owned by Lotte Chemical, purchased a 53.3% stake, investing 2.7 trillion won.

Enwires possesses unique technology regarding silicon composites, a next-generation anode material. They can use existing graphite as a raw material while increasing driving range and reducing charging time based on high energy density. Currently, they own a pilot line with an annual scale of 2.5 tons and plan to expand production on a commercial scale from 2027.

Through this equity investment, Lotte Energy Materials aims to mass-produce high-performance silicon anodes through joint development of silicon composite materials (Si-C series) with Enwires.