Bitsrocell, Additional Investment in 'MakeSense'... Focusing on Secondary Battery Material Development

Bitzrocell, a company specializing in lithium primary and secondary battery materials (CEO Jang Seung-guk), announced on the 6th that it has decided to acquire convertible bonds issued by the Canadian startup Makesense through a board resolution. The investment scale is 2 million Canadian dollars (approximately 1.99 billion KRW). Bitzrocell has held a 46.57% stake in Makesense since June 2021. Exercising the conversion rights for all of these convertible bonds could increase its stake up to 65.7%.

Since 2021, Bitzrocell has been developing secondary battery materials and process technologies such as silicon composite materials through a strategic technology partnership with Makesense. The company explained, "This investment will achieve securing core source technologies for mid- to long-term business, strengthening research and development capabilities, and creating synergy effects with special-purpose secondary batteries already in mass production."

Jang Seung-guk, CEO of Bitzrocell, stated, "We will continue to accelerate our own business-linked research and development (R&BD) to expand new business areas such as secondary battery materials and lithium recycling, and actively discover promising companies with excellent technologies and products."

Bitzrocell was selected as a ‘KOSDAQ Rising Star’ company by the Korea Exchange for three consecutive years as of July this year, and on the 5th, it received the '100 Million Dollar Export Tower' award from the Korea International Trade Association.