Yulho announced on the 24th that the payment for a third-party allotment capital increase worth 10 billion KRW, issued to ENPlus, has been completed. With this payment completion, ENPlus, a secondary battery specialized company, has become the largest shareholder of Yulho, and a large-scale synergy between the two companies is expected to occur.
ENPlus, Yulho's largest shareholder, develops and produces not only prismatic and pouch-type secondary battery finished products but also materials. Its core products include ▲electrode products (cathode and anode) ▲graphene-carbon nanotube (CNT) composite conductive materials ▲various thermal management materials (gap fillers and gap pads). Earlier this year, it was selected as an official supplier (vendor) to domestic battery companies and automakers, supplying various secondary battery materials. Recently, it was registered as a supplier to a U.S.-based global automaker.
ENPlus has experience successfully completing the downstream of the secondary battery value chain. Based on this, the company explains that Yulho’s secondary battery business can also be successfully led. Yulho is promoting a raw material business through recycling of spent batteries, which is a representative upstream field in the secondary battery industry.
Earlier this year, Yulho established 'Yulho Materials,' a company specializing in spent battery dismantling and crushing. By acquiring 100% of the shares of the recycling specialist company 'Ecoland,' it completed the value chain in the spent battery pretreatment field. Through equity investment, it also secured the position of the second-largest shareholder in 'Aqua Metals (AQMS),' a U.S. Nasdaq-listed company. Aqua Metals is an eco-friendly spent battery recycling specialist company expected to contribute to internalizing post-processing technology.
A Yulho official said, “With this change in the largest shareholder, Yulho has been incorporated as an affiliate of ENPlus,” adding, “ENPlus has established vertical integration from supplying secondary battery raw materials to producing finished products, and Yulho has secured a stable supply source.”
He continued, “ENPlus has many secondary battery experts from large corporations and also owns its own research institute, so it possesses considerable technological capabilities in the materials field,” emphasizing, “The synergy that can be demonstrated between the two companies in terms of technology is very significant.”
Yulho plans to convene a shareholders' meeting on December 27. The main agenda items of the shareholders' meeting include the appointment of directors and auditors and the addition of business objectives. New businesses such as mining and mineral resource development and investment for expanding the secondary battery raw material business will be pursued.
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