Belgian battery materials producer Umicore has formed a joint venture (JV) with South Korea’s HS Hyosung Advanced Materials to advance the industrialization and commercialization of its silicon carbon composite anode materials for lithium-ion EV batteries.
After more than a decade of research and development, Umicore’s flagship center for anode technology in Olen, Belgium, is ready to transition to industrial-scale production, the company said.
The joint venture, Extra Mile Materials, will further develop the technology, and scale Umicore’s existing line to an industrial demonstration plant by the end of 2026. Umicore will hold a minority stake of 20% in the JV.
All of Umicore’s employees working on the anode materials will transfer to Extra Mile Materials. The materials are in qualification at multiple battery cell makers, the company said.
“This joint venture aligns with our strategy to partner along our battery materials value chain. Scaling and valorizing the anode material technology created by our teams in Belgium demonstrates our commitment to innovation,” said Bart Sap, CEO of Umicore.
Source: Umicore
