Samyang makes additional investment in Solid Ionics

Samyang made additional investment in Solid Ionics, a solid electrolyte development and manufacturing company, and officially entered the all-solid battery materials business.

Samyang announced that it signed an investment contract worth 3 billion won with Solid Ionics at the group headquarters. In 2020, Samyang invested 2.9 billion won in the company. With the expansion of Samyang investment, the total investment has increased to 5.9 billion won.

With this investment, Samyang has consolidated its position in the solid-state battery industry by adding solid electrolytes and lithium sulfide (Li2S), a key material for solid-state batteries, into its business portfolio. The move also accelerates the commercialization of products being developed by Solid Ionics.

Solid Ionics is preparing to mass-produce solid electrolytes for use in sulfide solid-state batteries. The company holds the production patent for the main material lithium sulfide, ensuring stable material supply and competitive prices.

Solid Ionics plans to build a production plant in Ulsan capable of producing 1,200 tons of sulfide solid electrolytes per year by 2027 and be ready for final commercial testing with solid-state battery developers.

CEO Ho-sung Kang said: "Solid electrolytes are the most critical component of solid-state batteries, and many companies around the world are competing to develop solid electrolytes." He added: "This investment will be a stepping stone for Samyang to fully enter the solid-state battery materials business, with plans to expand our battery materials product portfolio in the future. "