[Asia Economy Reporter Jang Hyowon] EV Advanced Materials announced on the 23rd that it has additionally supplied 25 tons of battery-grade lithium raw material lithium carbonate, a key material for cathode active materials that determine battery performance, to Hydro Lithium.
This supply contract follows a previous agreement in July to supply 50 tons of lithium carbonate to Lithium Plus, but due to changes in conditions and additional amendments, a total of 50 tons were supplied by additionally providing 25 tons to Hydro Lithium (formerly Korea SE).
Hydro Lithium completed an additional payment of approximately 2.6 billion KRW on the 23rd and is scheduled to receive 25 tons of lithium carbonate on the same day.
A representative of EV Advanced Materials stated, “In addition to supplying 50 tons of lithium carbonate, we will secure a stable raw material supply chain to continuously generate revenue sources,” and added, “We will also cooperate with our affiliate SL Bionics to ensure smooth supply of battery-grade lithium raw materials and do our best to enhance shareholder value.”
The sales revenue obtained by EV Advanced Materials through this lithium carbonate supply accounted for 8.31% of recent sales, securing future financial stability.
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