SK Invests in ‘Solid Energy’ to Dominate The Next-Generation High-Performance, High-capacity Battery Market

SK invests in ‘Solid Energy’ to dominate the next-generation high-performance, high-capacity battery market.

The potential for listing increases, and investment firm SK Co., Ltd. (CEO Jang Dong-hyun) strengthens its targeting of the next-generation Li-Metal battery market, which is noted as a key component of electric vehicles. SK Co., Ltd. said on 11 November that it had invested 40 billion won in Solid Energy Systems, a lithium-metal battery developer that could bring innovation to the electric vehicle battery industry.

In 2018, sk secured three major shareholder positions under Singapore sovereign wealth fund Temasek and ceo founder Qichao Hu. SK Co., Ltd. has been investing in the explosively growing electric vehicle materials business, including next-generation power semiconductors, following Watson, the global no.1 copper oil manufacturer, in 2019, and is a strategy to leap into the ‘Game Changer’ of the future vehicle materials market by securing additional core battery technology.

Started in 2012 by an MIT Lab startup in the United States, Solid Energy is headquartered in Singapore and operates laboratories and test production facilities in Boston and Shanghai,
China.

Solid Energy has been recognized as the closest next-generation battery developer to commercialization, having signed a joint research agreement with GM in March based on its unique technology and success in developing lithium metal battery prototypes, which are among the next generation batteries.

Solid Energy and GM will set up a lithium metal battery test production plant near Boston, U.S., by 2023, with a goal of final commercialization in 2025. The industry is highly likely to promote solid energy’s U.S. stock listing, which is expected to significantly increase sk’s equity value when promoting listing.

Lithium metal is more than conventional lithium-ion batteries in terms of capacity performance. The energy capacity compared to graphite used as a cathode material of lithium-ion batteries is about 10 times larger, and is edging as a new next-generation cathode material that can send and accommodate high current amounts.

With a significantly reduced battery volume and weight, and a significant increase in mileage by more than twice, major battery developers and finished vehicle companies are fighting to develop next-generation batteries using lithium metal.

Solid Energy’s core competitiveness is that it has solved the safety challenges of developing lithium metal batteries through its own technology development. Lithium metal has the disadvantage that the energy capacity is high, but the lithium is piled up on the cathode surface when charging the aka “dendrite” (Dendrite) phenomenon occurs, causing the battery performance degradation and the membrane damage.

Solid Energy solved the safety problem by coating lithium metal with a solid polymer coating and using a high concentration of electrolytes that inhibit the formation of dendrites in lithium.

Major companies are also conducting research on all-solid batteries using solid electrolytes as a solution to dendrite phenomena, but it is predicted to take a long time to commercialize as well as prototype launches due to various technical challenges.

Solid energy is a strategy that first commercializes a hybrid method that combines liquid electrolytes and solid coatings that are easier to implement than solids, giving them an edge in the lithium metal battery market.

Solid Energy is the first company to succeed in applying this hybrid approach. In addition to electric vehicles, solid energy lithium metal batteries are likely to be applied to various devices such as smartphones and drones.

The battery market is expected to continue its explosive growth in the future, along with the high growth of the electric vehicle market. According to McKinsey, global demand for batteries is expected to grow 17-times in 10 years, from 219 GWh in 2019 to 3,612 GWh in 2030.

With the prospect of rapid popularization of electric vehicles, major global battery companies are competing to increase factories and develop next-generation batteries that will dramatically improve the performance of electric vehicles.

Solid Energy is a great part of the next generation of battery development and is expected to be highly valued in future listings. Another battery developer, QuantumScape, listed on the New York Stock Exchange in September of last year and was recognized for its high entrepreneurial value of about $3.3 trillion.

READ the latest Batteries News shaping the battery market

SK Co., Ltd. is pursuing four core businesses, including Advanced Materials, Green, Bio, and Digital, and is expected to significantly strengthen the competitiveness of its next-generation battery materials business based on its solid energy investment.

Kim Yang-taek, head of the Investment Center for Advanced Materials.

SK Co., Ltd. has focused on preemptively securing key materials and technologies for electric vehicles through investments in Watson, the world’s no.1 copper-pack manufacturer in the fast-growing electric vehicle market, and Yes PowerTechnics, a next-generation power semiconductor company.

“SK Co., Ltd. will establish a position as a global high-tech materials company by preempting the next generation of new materials in the field of battery anode materials and cathode materials in the
future.”

• 30 billion won in 2018 and an additional investment of 40 billion won… Securing new core technologies for electric vehicle batteries – Accelerating the market preemption of electric vehicle materials by dongvac and automotive power reducers, leaping into ‘game chainer’ – Solid energy, safety and efficiency high performance lithium metal battery development core technology – Solid Energy – GM Lithium Metal Battery Commercialization Promotion…

SK Co., Ltd., invested in Solid Energy… Preempt the next-generation high-performance, high-capacity battery market, May 11, 2021