Supply Volume Expected to Reach 4,000 Tons
Currently Supplying to European Battery Companies from Hungary
In Discussions with Major North American Companies
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| Solus Advanced Materials Hungary Battery Foil Plant. [Provided by Solus Advanced Materials] |
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, ‘[Herald Economy = Youngdae Han] Solus Advanced Materials announced that it would expand its supply of battery foils for energy storage systems (ESS) in response to the growth of the global ESS market.’,
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, ‘Solus Advanced Materials is currently supplying battery foils for ESS from its Hungarian plant to European battery manufacturers. It is also actively negotiating supplies with major North American companies.’,
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, ‘As a result, the proportion of ESS battery foil in Solus Advanced Materials’ total supply is expected to increase from less than 5% currently to about 20% next year. Supply volume is anticipated to be around 3,500 to 4,000 tons. In terms of market share, North America is expected to have a ratio of about 9 to 1 compared to Europe.’,
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, ‘Lithium iron phosphate (LFP) batteries, commonly used in ESS, have relatively lower profitability compared to ternary (NCM) batteries for electric vehicles. However, Solus Advanced Materials is supplying not only 8-micron (㎛) products but also high-value 6㎛ products, securing differentiated competitiveness in the ESS sector.’,
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, ‘Solus Advanced Materials plans to accelerate its North American market penetration by leveraging its high-value technology. The Canada Quebec plant, slated for completion next year, is expected to be a key player in targeting the North American market. The Canadian battery foil plant is the only production base in North America capable of locally producing and supplying ESS battery foils, making direct supply possible to major U.S. customers.’,
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, ‘A representative of Solus Advanced Materials stated, “Through our production bases in Hungary and Canada, we aim to complete a tailored supply system for EVs and ESS in Europe and North America, respond quickly to market demand, and strengthen differentiated competitiveness with a portfolio centered on high-value products.”’,
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