November 30, 2024

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(Posco Chemical)

Posco Chemical on Wednesday unveiled a carbon neutrality roadmap for its battery materials business, aiming to meet RE100 standards by around 2035. It aims to replace 100 percent of the electricity it uses for producing cathode and anode materials with eco-friendly sources.

But the company said that does not mean that it will join the RE100 club by 2035.

The Korean firm aims to complete its energy goal by transforming its current carbon capture, which is a use-and-storage process, by adopting alternative fuels or low-carbon raw materials to seek energy efficiency.

Posco Chemical said the move is to proactively respond to growing calls by clients such as global automakers and battery makers to produce eco-friendlier products. The firms’ major products, cathode and anode materials, which are made of lithium and other choice metals for the cathode and a graphite mixture for the anode, are core materials for lithium-ion batteries in electric cars.

After starting with its battery materials business, Posco Chemical said it aims to achieve zero emissions gradually by 2050 for its other businesses as well, such as quicklime production. Quicklime production involves a lot of carbon dioxide exhaust due to the chemical reactions of raw materials.

Recently, the company introduced solar generation facilities at domestic and overseas cathode and anode materials factories. The firm said it would also apply renewable energy sources such as hydroelectricity at Ultium CAM, a joint venture company created between US carmaker GM last month for North American production of Cathode Active Materials. CAM are another core material used to make electric vehicle batteries.

In an industry first, Posco Chemical has also received the Environmental Product Declaration certification for its natural graphite anode materials from the Ministry of Environment in January.

“With active investment in eco-friendly business and research and development, Posco Chemical will also seek competitiveness in ESG factors to lead the battery materials business and to proactively respond to demand and expectations from stakeholders and customers,” said Posco Chemical CEO Min Kyung-zoon.

By Kim Da-sol  (ddd@heraldcorp.com)