Posco Future M makes first shipments
Posco Future M has conducted the initial shipment of products from its 30,000 tonnes/year nickel-cobalt-aluminium (NCA) cathode material plant in Pohang, South Korea. This was built to supply Samsung SDI with materials for electric vehicle (EV) batteries, following a $2.9 billion supply agreement in January 2023.
The company is also building a second 52,500 tonnes/year facility at Gwangyang, which will open in 2025, and plans to expand the production of single-crystal cathode materials at both sites. These integrate raw materials into a single-particle structure and are in growing demand due to the increasing performance requirements of EVs in terms of battery thermal stability and lifespan.
RELATED ARTICLES
International Chemical Investors Group (ICIG), the owner of WeylChem and many other European chemical assets, has acquired the European Advanced Organics business of Valtris Specialty Chemicals.
OCSiAl has opened its first European graphene nanotubes facility in Serbia. It will produce 60 tonnes/year under the Tuball band and the company plans to double this by launching a second synthesis unit within the next year. The modular design means it is able to scale production rapidly.
At its latest Capital Markets Day, Merck KGaA said that it is “in a strong strategic position” to profit from medium-term growth opportunities in all three of its business sectors after a transitional year in 2023.
Mining giant Rio Tinto has agreed to acquire Arcadium Lithium, the company created by the merger of Livent and Allkem in January, for $5.85/share, which represents a 90% premium to Arcadium’s share price before the deal was announced. The offer values the firm at about $6.7 billion.
Chemours has opened Chemours Battery Innovation Centre (CBIC) at the Chemours Discovery Hub in Newark, Delaware. CBIC will support the testing and scaling of next-generation lithium-ion battery technologies to produce batteries for hybrid and electric vehicles.
Arcadium Lithium, the company formed by the merger of Livent and Allkem at the start of the year, has acquired the lithium metal business of Li-Metal for $11 million. This includes a pilot production facility in Ontario.
