[Featured Stock] EV Advanced Materials Soars... "Prologium, One Step Closer to Commercializing All-Solid-State with 'Scooter Tesla'"

[Asia Economy Reporter Hyungsoo Park] EV Advanced Materials is showing strong performance.

At 9:53 AM on the 15th, EV Advanced Materials was trading at 1,650 KRW, up 8.2% from the previous day.

Prologium, known as the "Tesla of scooters," has jointly developed a replaceable solid-state battery prototype for two-wheelers with Taiwanese Gogoro. Prologium is a solid-state battery manufacturer. Solid-state batteries use solid electrolytes, offering higher safety and longer duration. The company is preparing for a U.S. stock market listing and aims to establish mass production facilities for solid-state batteries in the fourth quarter of this year.

The newly developed solid-state battery is compatible with existing powered vehicles and can be integrated with charging networks. Applying Prologium's lithium ceramic battery technology, it demonstrates superior performance and safety compared to conventional batteries. While the current battery capacity is around 1.7 kWh, this battery increases it by about 40% to 2.5 kWh, providing high energy density. The use of solid ceramics reduces fire risk and shortens full charging time to 12 minutes.

A company representative said, "We look forward to Prologium's future endeavors as it pursues solid-state battery applications in various fields," adding, "We expect EV Advanced Materials' investment in Prologium's solid-state battery technology development to be highlighted."

EV Advanced Materials secured a partial stake in Prologium by investing a total of 8.5 million USD (approximately 10.1 billion KRW) in July last year.

The representative stated, "Prologium is actively targeting the electric vehicle and electric scooter markets through collaborations with global companies such as Mercedes-Benz and Gogoro," and added, "The company is promoting cooperation with Prologium for business diversification, including investments, and will continue to focus on electric vehicle development to enhance corporate and shareholder value."

Founded in 2004, EV Advanced Materials specializes in circuit boards. Last year, it recorded sales of 63.5 billion KRW and an operating profit of 2.2 billion KRW. Sales increased by 38.6% compared to the previous year, and operating profit turned positive. The company explained that increased sales and operating profit were due to new client orders. The cost reduction effect from increased production activities at the Vietnam subsidiary also helped improve profitability.