Shinhwa IT Signs MOU with US Nasdaq Enovix to Lead Future Electric Vehicle Revolution
Negotiates Supply with US Solid-State Battery Company, Offering Higher Stability than Existing Products
Secures Technological Gap over Competitors, Continues Cooperation after Prototype Supply
[Asia Economy Reporter Hyungsoo Park] Hansong Neotek's stock price has been on a steep upward curve recently due to the influence of Shinwha IT, a secondary battery material company it recently acquired.
According to the financial investment industry on the 28th, Hansong Neotek's stock price has risen more than 60% since the beginning of this month. The stock price, which was below 1,400 won, surpassed 2,100 won within a month. This appears to be the result of growing expectations as the company has recently agreed to cooperate with global secondary battery-related companies one after another.
Hansong Neotek acquired Shinwha IT last August. The lead tabs, a secondary battery material mainly produced by Shinwha IT, are electrode terminals that connect the cathode and anode to input and output electricity externally. Lead tabs are known to be one of the common materials required for next-generation secondary batteries such as lithium-sulfur and lithium-metal solid-state batteries. Shinwha IT supplies high-performance lead tabs to a U.S. electric vehicle (EV) lithium-metal battery manufacturer in which SK and Hyundai Kia Motors are shareholders.
Shinwha IT has developed lead tabs capable of sufficiently responding to more than 30% increased energy density and speed. It is supplying prototypes to battery manufacturers. It is known to have secured a significant technological gap compared to other domestic and international competitors, and inquiries for cooperation seem to be increasing.
On the previous day, Shinwha IT signed a strategic partnership agreement (MOU) with Enovix to develop next-generation silicon battery materials. Through the agreement, they will develop high-performance lead tabs for metaverse augmented reality (AR) devices. They are pushing to supply to global AR device manufacturers. The U.S. economic media Business Insider evaluated Enovix as a leading secondary battery company that will lead the ‘future electric vehicle revolution’ selected by global venture capital.
Following Enovix, Shinwha IT is also pursuing cooperation with a solid-state battery company that attracted investments from the Volkswagen Group and Bill Gates. Shinwha IT has laid the groundwork to target the next-generation dream battery market, the ‘solid-state battery.’ Shinwha IT plans to develop lead tabs optimized for next-generation solid-state batteries and apply SPEC-IN tailored to customer requirements for final mass production.
The Shinwha IT lead tabs used in solid-state batteries are designed with metal ends processed with 'Edge' machining to prevent bursting even if other materials inside the battery expand. Shinwha IT uses low-temperature fusion technology in the lead tab manufacturing process to attach a polymer resin (PP) film to the metal surface. The PP film is fused onto the lead tab, serving to bond and seal the battery and lead tab.
Hansong Neotek stated, "We will expand the high-performance lead tab product portfolio supplied to the U.S. lithium-metal battery company through supply consultations," adding, "We plan to actively expand the development and supply of high-performance lead tab technology for electric vehicles (EV), energy storage systems (ESS), and metaverse (AR, VR) to overseas customers."
Hansong Neotek has set a goal to establish itself as a leading domestic materials, parts, and equipment (SoBuJang) company with technology capable of competing with Sumitomo, the global No. 1 lead tab company from Japan.
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