A U.S. Developer of Next-generation Li-Metal Batteries
SK Inc., the holding company of SK Group, announced on May 11 that it has invested an additional 40 billion won in SolidEnergy Systems, a U.S. company developing next-generation lithium metal batteries.
SK Inc. made its first equity investment of 30 billion won in 2018. The company will secure its position as the third-largest shareholder following Singapore sovereign wealth fund Temasek and the founder of SolidEnergy Systems.
SK Inc. was attracted by SolidEnergy Systems’ lithium metal battery technology. Compared to conventional lithium-ion batteries, lithium metal batteries have about 10 times more energy capacity.
Their problem was safety. They had problems such as a dendrite phenomenon in which branch-shaped lithium dendrites are formed when extra lithium ions accumulate on the anode surface and cannot be absorbed into the anode in time, resulting in reduced battery performance and damaged separators. Dendrites can cause short circuits and lead to catastrophic failures and even fires
SolidEnergy Systems solved safety problems of lithium metal batteries through its own technology. The company signed a joint research contract with GM in March based on its unique technology and is drawing attention as a next-generation battery developer closest to the commercialization of lithium metal batteries. SolidEnergy Systems and GM are planning to establish a lithium-metal battery pilot production plant near Boston by 2023. Their goal is to commercialize lithium metal batteries by 2025. Industry experts predict that the value of SK Inc.'s stake will soar as SoidEnergy Systems is highly like to offer stocks on the U.S. stock market.