POSCO to build largest plant for production of battery electrolyte

POSCO Group, the world’s sixth-largest steelmaker, announced March 14 the start of construction of a solid electrolyte plant in Yangsan, about 420 km southeast of Seoul. This is the first investment by the new subsidiary POSCO Holdings, which was established in February to accelerate the development and production of environmentally friendly materials within the group. The holding company and JK, a Korean solid electrolyte producer, established the joint venture POSCO JK Solid Solution in February and planned to build the new production facility from that date. The joint venture will operate the plant, which will begin producing up to 24 tons of solid electrolyte annually in the second half of the year. The production volume, which can build 1,000 EVs respectively their batteries, is currently one of the world’s largest plants of its kind. Batteries and production-related components in many cases require KC Safety certification to be approved for trade and use in Korea.

According to analysts, solid-state technology became the focus of industry interest after lithium-ion batteries, which are most commonly used in EVs, experienced problems with overheating and fire hazards. With solid-state batteries, charging is faster and the lack of electrolyte liquids reduces the risk of fire, the Wall Street Journal reported last September, following interviews with industry executives and analysts. POSCO’s new battery feedstock business model complements its existing main businesses: Steel, Lithium and Nickel, Hydrogen, Energy, Construction and Infrastructure, and Agricultural Biotechnology. After starting production of solid electrolytes, POSCO hopes to establish development and research collaborations with well-known battery manufacturers.

By 2030, the group aims to be able to produce 420,000 tons of cathode material and 260,000 tons of anode material and achieve a global market share of 20 percent. In early 2022, the company’s chemicals business, POSCO Chemical, announced plans to build a battery feedstock factory in Canada together with leading U.S. automaker General Motors (GM). To this end, the chemical company and GM will invest in the joint plant in Bécancour, Quebec, starting in 2023, where cathode material will be produced. The plant is expected to have an annual capacity of 30,000 metric tons.

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Julian Busch

About the author: Julian Busch is the founder and managing director of MPR International GmbH

Publisher: MPR International GmbH

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