Shinjin SM-S Plus Comtech Joint Venture for Carbon Composite Materials... "Production of Electric Vehicle Parts and Materials"

Joint Venture Producing Wet Composite Materials with Excellent Shielding, Electrical Conductivity, and Heat Dissipation
Composite Materials Containing CNT and Graphene Targeting 100 Billion KRW Sales by 2026

Standard plate company Shinjin SM announced on the 26th that it has signed an investment agreement to establish a joint venture (JV) with S-Plus Comtec, which holds over 40 patents in the wet composite materials field and focuses on the production and sales of composite materials.

S-Plus Comtec is a leading venture company in the research and development of carbon-based composite materials such as carbon nanotubes (CNT) and graphene. It was recently selected as a ‘First Penguin’ company by the Korea Credit Guarantee Fund.

Based on wet process upcycle (Upgrade + Recycle) technology, it produces carbon nonwoven fabrics and carbon injection parts for electric vehicle batteries. It attracts industrial attention for its flame-retardant effects at high temperatures of 1000 degrees Celsius, as well as its excellent carbon neutrality, cost, and process improvement effects.

The application fields of composite materials with characteristics such as electromagnetic wave shielding, electrical conductivity, thermal conductivity, and flame retardancy are diverse, including electric vehicles, drones, robots, semiconductors, and displays. The hybrid recipe of natural, organic, and inorganic materials enables outstanding cost competitiveness. Through differentiation, it enables a paradigm shift from the general metal industry to the composite materials industry.

The joint venture’s shares are 60% owned by Shinjin SM and 40% by S-Plus Comtec, with Shinjin SM’s CEO Kim Eun-sik appointed as the CEO. The joint venture will be responsible for producing SGR (Shaft Grounding Ring) for electric vehicle motors, wet composite materials (nonwoven fabrics, gears), shielding-conductive-heating-cooling composite materials (heat exchange trays, covers, cooling fins, vehicle display covers, etc.), and copper-replacement carbon wire products, which are the main products of S-Plus Comtec.

Shinjin SM CEO Kim Eun-sik said, "Although our existing business generates stable sales and operating profits, we have always lacked new growth engines. By partnering with S-Plus Comtec, a leading company in the wet composite materials field, and establishing a joint venture, we have laid the foundation for a leap forward." He added, "We will actively target new markets such as electric vehicles, drones, and robots to achieve sales of 100 billion KRW by 2026."

S-Plus Comtec CEO Shin Dong-su introduced the company as "a research and development-focused venture company holding over 40 patents including core composite material technologies," and said, "We are conducting tests for mass production of composite materials with leading domestic and international large companies." He continued, "We needed funds and partners to stably establish large-scale facilities for mass production. By cooperating with Shinjin SM, which has excellent facility manufacturing capabilities and process technologies, we will change the paradigm of the composite materials industry."