November 07, 2024

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Former EcoPro Chairman Lee Dong-chae (fifth from left), Jincheon County Governor Song Ki-seop (seventh from left), along with other company executives and government officials pose for a photo after celebrating the construction of EcoPro HN’s new manufacturing plant for rechargeable battery materials in Chopyeong, North Chungcheong Province, on Wednesday. (EcoPro HN)

EcoPro HN, the environmental solutions provider under EcoPro, said Wednesday it has completed the construction of a new manufacturing plant for rechargeable battery materials in Chopyeong, North Chungcheong Province.

Around 100 officials, including key executives -- former EcoPro Chairman Lee Dong-chae, EcoPro CEO Song Ho-jun, EcoPro HN CEO Kim Jong-seop and Jincheon County Governor Song Ki-seop -- participated in the completion ceremony at the newly-built facility earlier in the day.

The manufacturing base, representing a 130 billion won ($93.2 million) investment, is poised to produce long-lasting crucibles – containers used in the calcination process of battery cathode materials. Previously, the company had imported these containers, which could only be used three to four times due to poor durability. EcoPro HN’s products can be reused up to 10 times.

The plant will also produce dopants, additives that extend the lifespan of rechargeable batteries, using its advanced nano-particle synthesis and dispersion technologies to ensure even coating on cathode materials. The domestic market for dopants is estimated at an annual capacity of 500 metric tons, with most of the current supply imported from China and Europe because of technological limitations.

The Chopyeong plant marks the company’s largest investment so far and serves as a stepping stone in diversifying from environmentally friendly business solutions to rechargeable battery materials.

Starting with this massive investment, EcoPro HN has pledged to inject 500 billion won to achieve 1 trillion won in sales revenue by 2028. It is expected to hire around 500 employees for the production facility and a research and development division focused on new semiconductor materials.

In addition to boosting its rechargeable battery value chain, the company plans to invest around 100 billion won in setting up facilities for high-performance semiconductor materials. The company will build next-generation honeycomb catalyst facilities to cut greenhouse gas emissions during the semiconductor manufacturing process.

Lee highlighted the significance of EcoPro HN, given that EcoPro’s key focus had been the environmental business. Before EcoPro HN’s spinoff from EcoPro in 2021, EcoPro had specialized in products that help factories reduce hazardous waste, such as cleanroom chemical filters, supplying them to major companies like Samsung Electronics and HD Hyundai Heavy Industries.

“(Today,) we embark on a new journey of growth to become a powerhouse in rechargeable battery and semiconductor materials,” stated Lee. “The Chopyeong plant will play a crucial role for EcoPro HN to reach its 1 trillion won sales target.”

By Byun Hye-jin (hyejin2@heraldcorp.com)