[Asia Economy Reporter Jang Hyowon] DA Technology, a specialized company in secondary battery and semiconductor equipment (CEO Lee Jongwook), announced on the 27th that it has secured an order worth 3.4 billion KRW for an automated flexible secondary battery production line from flexible secondary battery development startup Ribest (CEO Kim Joosung).
On the same day, the two companies also signed a business agreement regarding equipment manufacturing and future equipment expansion. The signing ceremony was attended by DA Technology CEO Lee Jongwook, Ribest CEO Kim Joosung, and other related personnel.
Ribest is a flexible secondary battery development company with full flexibility across all stages, and is the only startup capable of research, design, and manufacturing. The company’s flexible secondary batteries are characterized by flexibility, high energy density realizing large capacity, strong durability, and long lifespan.
Currently, Ribest is developing batteries applied to bands of smartwatches, AR, and VR devices, and is in the technology verification stage with multiple global manufacturers. Recently, the company was also selected as a final participant in Daejeon City’s promising startup discovery project, the ‘D-Unicorn Project.’
The two companies plan to continuously pursue future equipment expansion. They signed a business agreement to ▲ perform design and manufacturing of secondary battery production equipment ▲ and for Ribest to cooperate with DA Technology as a preferred supplier for future equipment expansion, maintaining close collaboration.
Kim Joosung, CEO of Ribest, said, “With DA Technology’s expertise in equipment technology, we expect rapid acquisition of equipment tailored to our products,” adding, “Flexible secondary batteries are a field with high market growth potential, and the two companies plan to steadily discuss equipment expansion in line with demand trends.”
Lee Jongwook, CEO of DA Technology, said, “Secondary batteries for wearable devices have a wide range of applications and are competitive product groups, so demand for manufacturing equipment is expected to steadily increase,” and added, “We will strive to develop equipment that matches market trends through cooperation with promising companies like Ribest.”
Meanwhile, DA Technology recently decided on a third-party allotment capital increase worth 6 billion KRW targeting executives including the CEO, securing operating funds in preparation for orders in the second half of the year.
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