Lithium Plus "Achieves Korea's First Mass Production of Ultra-High Purity Lithium Hydroxide with Proprietary Technology"

[Asia Economy Reporter Jang Hyowon] Lithium comprehensive materials company Lithium Plus announced on the 21st that it has succeeded in mass-producing battery-grade ultra-high-purity lithium hydroxide for the first time in Korea.

Lithium Plus began full-scale operation on October 19th after completing equipment inspections following the completion of the Chubu plant on October 13th. They succeeded in producing the initial product within just over two months.

The battery-grade lithium hydroxide produced this time has a purity of 99.995% according to their own component analysis and meets the raw material specifications for batteries. It is a product that can be used in high-nickel NCM batteries produced by LG Energy Solution, SK On, and Samsung SDI.

The company explained that this will be a great support to the Korean automobile and battery industries, which are increasingly concerned due to the US Inflation Reduction Act (IRA). Until now, all ultra-high-purity lithium hydroxide for batteries was imported from overseas, of which 84% was Chinese-made. They succeeded in domesticating lithium production using proprietary technology patented by Dr. Jeon Woong, which is regarded as the first step in reducing China’s dependence on battery raw materials.

Lithium Plus will provide initial lithium hydroxide samples produced this time to global lithium battery manufacturers, global cathode and electrolyte manufacturers, and lithium all-solid-state battery material manufacturers. After testing the samples, these companies plan to officially supply the product.

A Lithium Plus official said, “We have completed initial production and entered full-scale mass production. Designing and operating a mass production process for battery-grade ultra-high-purity lithium hydroxide using only Korean patented technology is very meaningful.”

He added, “We will lay the groundwork for future production capacity expansion and quickly establish the second plant being promoted by Hydro Lithium.”

Lithium, called ‘white petroleum,’ is a key raw material accounting for about 40% of the production cost of electric vehicle batteries. With the rapid growth of the secondary battery market, global lithium demand is also surging. According to market research firm SNE Research, global lithium demand is expected to increase from 529,000 tons (t) this year to 1,043,000 tons by 2025.