Gangwon Energy, POSCO Future M Wins 23.4 Billion KRW Factory Equipment Order

Gangwon Energy has secured a 23.4 billion KRW contract to supply washing and drying equipment necessary for POSCO Future M's cathode material manufacturing plant.

Gangwon Energy announced on the 20th that it signed a contract with POSCO Future M for washing and drying equipment required for the Gwangyang Phase 5 cathode material manufacturing plant.

The cathode material washing process removes residual by-products on the surface of the synthesized cathode active material. Since the by-products are dissolved in water for purification and separation, it is important to dry the moisture in the separated product. Gangwon Energy's core thermal management technology of the dryer, developed and manufactured in-house, is interpreted to have been highly evaluated.

POSCO Future M is investing approximately 680 billion KRW to build the Phase 5 cathode material plant in the Gwangyang Yulchon 1 Industrial Complex. The plant will have a capacity to produce more than 50,000 tons annually of high-nickel NCA cathode material. Including the production capacity of the already completed Phase 4 plant, the total annual production capacity will reach 140,000 tons.

Gangwon Energy is expanding its secondary battery equipment business based on its existing industrial S/G (Steam Generator) business as well as its large-scale plant design and manufacturing capabilities.

A Gangwon Energy official said, "We are successfully progressing with in-house equipment manufacturing and raw material supply business," adding, "Through the manufacturing and supply of washing and drying equipment, we will not only secure an equipment portfolio for the cathode material process but also provide high production efficiency."