LG Energy Solution has made an equity investment in a U.S. battery development venture to secure lithium metal battery technology, a key next-generation battery.
On Jan. 25, LG Energy Solution announced that it has made an equity investment in Sion Power in Arizona, U.S., and agreed to conduct technical cooperation. The company did not disclose the specific shareholding percentage and investment amount in accordance with the agreement between the two companies.
Lithium metal batteries use metal cathodes instead of graphite cathodes in conventional lithium-ion batteries, which have the advantage of higher energy density per unit, reducing weight and volume. The investment is expected to give LG Energy Solution an edge in lithium metal battery technology.
Sion Power is a next-generation battery technology development venture founded in 1994 and is recognized as a leader in the field of lithium metal batteries. It holds more than 470 international patents, including patents related to the cathode protection layer, the core of lithium metal batteries.
The cathode protection layer technology is a technology that is attracting attention because it can solve the dendrite phenomenon, which is a major challenge in the development of lithium metal batteries. Sion Power said its lithium metal batteries developed based on this technology have the same size and weight as conventional lithium ion batteries, but can store more than 1.5 times the energy.
The investment will be made through LG Technology Ventures (LGTV), a corporate venture capital (CVC) firm that LG Energy Solution is committed to investing in, and Bricks Capital Management (BCM), a private equity firm.
“This is a strategic investment to solidify our leadership in next-generation technologies for the battery industry,” said an official from LG Energy Solution. “LG Energy Solution will continue to invest in new technologies and new businesses to create new value and competitiveness to provide the best customer value.”
Meanwhile, LG Energy Solution also announced that it has developed the world’s first borate-pyran-based liquid electrolyte that can dramatically increase the performance of lithium metal batteries with a joint research team at KAIST. In addition to lithium metal batteries, LG Energy Solution is also accelerating the development of next-generation batteries such as solid-state batteries and lithium-sulfur batteries.
저작권자 © Korea IT Times 무단전재 및 재배포 금지
Read the full article here