[Featured Stock] TSI, the 'Hidden Player' in All-Solid-State Batteries... Secures Samsung, LG, SK as Clients

[Asia Economy Reporter Hyungsoo Park] TSI is showing strong performance. As interest in all-solid-state secondary batteries grows, it seems to have also influenced the stock price of CIS. While the stocks of listed companies recognized as all-solid-state related stocks, such as CIS, Dongwha Enterprise, and Hannong Chemical, have been soaring day by day, TSI has been relatively less known. TSI moved from the KONEX market to the KOSDAQ market in July last year.

As of 11:31 AM on the 14th, TSI is trading at 13,400 KRW, up 12.13% from the previous day.

TSI is responsible for the mixing process, the first step in the electrode process among secondary battery manufacturing processes. In the mixing process, it supplies slurry, which is a mixture of active materials, binders, conductive agents, and solvents necessary for secondary battery manufacturing, to the coating process.

TSI developed a one-stop mixing function that can reduce process time and commercialized the Corona Mixer, which has a superior hourly mixing capacity compared to existing mixers. TSI implemented a process that mixes active materials, conductive agents, and binders all at once. Since it can continuously supply to the next coating process after mixing, it can reduce production costs and time. Continuous mixers are considered essential equipment for ushering in the era of 'all-solid-state batteries.' TSI is preparing to enter the high-density material mixing field, such as next-generation all-solid-state batteries, with continuous mixers.

Junghwan Kim, a researcher at Korea Investment & Securities, explained, "The currently sold Corona Mixer has twice the mixing efficiency compared to the PD Mixer, which is the main product of competitors," and added, "The next-generation cathode-specialized mixer will be applied for the first time this year at the new factories of major customers, and its efficiency is even better."

He continued, "The mixing system is also supplied turnkey, and TSI accounts for 7-8% of the investment amount in secondary battery cell production equipment," adding, "Mixers handle the core materials of secondary batteries and can be customized for each customer."

By building customized mixing systems for each battery manufacturer, TSI has secured the three major domestic battery companies as customers.

TSI is diversifying its business into secondary battery production coaters and hydrogen fuel cells. The in-house coating system under development is for the next-generation dry electrode process. If secondary battery cell companies adopt the dry electrode process, they can increase energy density and reduce costs, which requires the development of next-generation mixer equipment.

TSI is also pursuing expansion into the hydrogen fuel cell industry. Since last year, it has been receiving orders for domestic hydrogen fuel cell mixing systems and is developing equipment for fuel cell materials using dispersion technology. It plans to manufacture catalyst slurry mixing dispersion equipment and conduct prototype testing, with a plan to complete research and development by the end of this year.