Partners with U.S. Company to Produce Silicon Anode Materials
SK Materials will enter the silicon anode material business to expand its secondary battery materials business.
SK Materials has joined forces with Group 14 Technology of the United States to produce silicon anode materials. Founded in Seattle in 2015, Group 14 Technology is a company with technologies and patents related to silicon anode materials. SK Materials invested US$13 million (about 14.2 billion won) in its U.S. partner at the end of 2020 to become its third-largest shareholder with a 10.5 percent stake. The two companies are planning to establish a joint venture with an initial capital of 77.2 billion won within this month. SK Materials will hold a 75 percent stake in the joint venture.
The joint venture company announced on Sept. 14 that it will sign a memorandum of understanding (MOU) with North Gyeongsang Province and Sangju City of the province to set up a 850-billion-won silicon anode material and raw material plant in Sangju.
The joint venture to be established by SK Materials and Group 14 Technology plans to invest 550 billion won to set up its first silicon anode material plant. Construction will start next month to begin commercial production next year. SK Materials will invest an additional 300 billion won to build a plant that produces silane (SiH4), the main raw material for silicon anode materials, in line with the expansion of the joint venture plant.
This investment plan came a month after SK Inc. announced in August that it would merge with SK Materials. At that time, SK Materials emphasized that it would jump to the top of the world's high-tech materials sector by adding SK Inc.'s global investment capabilities and SK Materials' business development capabilities.
SK Materials plans to expand its battery material business to carbon nanotubes (CNTs), conductive materials, binders, and additives.