HS Hyosung Group has started operating in the silicon anode material sector, which is a crucial part of next-generation batteries. This strategic decision is part of Vice Chairman Cho Hyun-Sang's "value management" strategy. The strategy focuses on growing the company's overall value by investing in major technologies as well as intellectual property that can drive future growth.
On October 31, HS Hyosung announced it will invest €120 million (about KRW 200 billion) to acquire The Extra Mile (EMM), a battery anode materials subsidiary of Belgium-based global materials technology company Umicore. This will be done through a joint venture with Umicore. The deal is expected to be completed after receiving the usual regulatory approvals in the next few months.
Silicon anode battery material is seen as a major breakthrough in next-generation battery technology. When utilized in a battery’s anode, it can keep up to ten times more energy storage than traditional graphite anodes and allows for faster charging, which greatly reduces the time it takes to charge electric vehicles. These benefits improve charging speed, driving range, and cost-efficiency, making silicon anodes a key focus for car makers and battery manufacturers around the world. As other battery materials reach their limits, silicon anodes are seen as having the most potential for future advancements.
Umicore is a global company with over 100 years of history. It combines expertise in recycling and processing metals with top research as well as production capabilities. The company works in major areas like batteries, catalysts, semiconductors, and aerospace.