Jarvis to Supply Electric Vehicle Battery Inspection Equipment Worth 4.2 Billion KRW... "Expecting Performance Rebound in Second Half"

[Asia Economy Reporter Yoo Hyun-seok] Jarvis, a company specializing in X-ray inspection equipment, is set to actively expand its sales related to batteries and secondary cells.

On the 27th, Jarvis announced that it has signed a supply contract worth 4.2 billion KRW for electric vehicle (EV) battery X-ray inspection equipment. The contract period extends until the end of May next year. Due to confidentiality agreements, the contracting party will remain undisclosed until the contract ends.

The high technological competitiveness is expected to be a driving force for Jarvis's future growth through this order. Jarvis has succeeded in developing inline inspection equipment for cylindrical batteries capable of inspecting at speeds up to 430 ppm. In battery inspection equipment, inspection accuracy and fast speed are considered key factors. Jarvis's equipment has been recognized for both factors, leading to ongoing supply discussions with domestic and international companies.

Further orders related to battery and secondary cell inspection equipment are expected to continue. Jarvis began operating its Dongtan manufacturing center in May, securing a production capacity (CAPA) of up to 200 billion KRW. With global carbon reduction policies being implemented and battery demand expected to increase, Jarvis is well-positioned to respond stably to market demand.

Funding for supplying inspection equipment has also been secured. In June, Jarvis issued 6 billion KRW worth of bonds with warrants (BW). The funds will be used as operating capital to meet the demand for battery and semiconductor inspection equipment. Notably, this BW issuance was completed under excellent conditions, including zero interest rates, reflecting strong recognition of future growth potential.

A Jarvis representative stated, "We have continuously strengthened research and development to respond to the demand for battery inspection equipment and have prepared in various ways, including operating the Dongtan manufacturing facility. Since we are communicating with various companies regarding orders, we expect a significant rebound in order performance starting in the second half of the year."