SEOUL, November 03 (AJP) - South Korea's HS Hyosung Group said Monday it has entered the next-generation battery materials market with the acquisition of EMM, the battery anode subsidiary of Belgium’s Umicore, for about 200 billion won, or roughly $145 million.
The deal also includes the creation of a joint venture between the two companies to advance silicon anode technology.
Umicore, specialized in materials science, has long been known for its expertise in battery components, catalysts, and semiconductor materials, as well as its historic role in early nuclear research — its facilities once hosted Marie Curie’s experiments on radon and uranium, according to HS Hyosung.
The acquisition positions HS Hyosung at the forefront of efforts to commercialize silicon anodes, a technology widely regarded as the next leap in electric vehicle batteries. Silicon anodes can store more than 10 times the energy density of traditional graphite anodes, potentially slashing charging times and boosting vehicle range and efficiency.
The investment reflects Vice Chairman Cho Hyun-sang’s push to strengthen Hyosung’s portfolio through core technologies and intellectual property, while integrating artificial intelligence into the company’s manufacturing and materials businesses.
Cho reportedly led negotiations with Umicore, visiting Belgium several times to finalize the deal.
HS Hyosung said it plans to invest 1.5 trillion won over the next five years to scale up production, beginning at its Ulsan facility. The expansion is expected to create high-value jobs and enhance South Korea’s competitiveness in the global battery supply chain.
“Our goal is to build a foundation for the next generation of energy materials,” the company said in a press release. “This partnership will allow us to accelerate innovation in silicon anodes and strengthen our global position.”
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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