South Korean battery materials producer Ecopro BM has won a contract to supply an estimated 2.7 trillion won ($2.27bn) worth of cathode materials to SK Innovation, locking in a customer for its new plant opening later this year.
Ecopro will supply nickel-cobalt-manganese (NCM) to SK Innovation through to the end of 2023. The volume is confidential but Ecopro said the deal is even larger than a W1.85 trillion NCM contract that South Korean battery producer LG Chem signed earlier this year with supplier Posco Chemical for an estimated 125,000t.
Ecopro's 30,000 t/yr NCM plant at Pohang will be completed in this year's second quarter, lifting its overall output to 59,000 t/yr. Pohang and an existing 23,000 t/yr factory in Ochang will supply SK Innovation, Ecopro said.
Ecopro specialises in producing high-nickel cathode materials to customers such as Samsung SDI.
China's Green Eco-Manufacture is supplying at least 100,000t of NCM ternary precursors with high nickel content to Ecopro under a contract lasting to 2026.
By Tony Cox
