KOSEN is showing strength following news that POSCO Holdings is considering the production of vanadium electrolyte. XR-B, an affiliate of KOSEN, is known to produce the world's highest output performance vanadium batteries, which is believed to be influencing this trend.
As of 9:15 AM on the 25th, KOSEN is trading at 3,220 KRW, up 2.88% from the previous day.
According to industry sources the previous day, the strategic investment department within POSCO Holdings requested research and investigation related to the vanadium electrolyte business at the end of last year. Additional revisions to the draft report are expected, and once the final report is released, it is anticipated that the CEO's review will be completed.
Vanadium electrolyte is a key material used in vanadium-based batteries. At the end of 2022, POSCO made a strategic investment in VFB company H2. Approximately 70% of the vanadium used in the industry comes from steel slag.
Recently, major domestic companies such as Lotte and Hanwha have also been eyeing market dominance in next-generation energy storage system (ESS) batteries, including vanadium flow batteries (VFB) and vanadium ion batteries (VIB). Vanadium batteries are known to be more suitable than lithium-ion batteries (LIB) for long-duration ESS, which is expected to experience explosive growth.
Meanwhile, XR-B, in which KOSEN holds shares, is reported to have developed a vanadium battery with output performance more than three times that of existing vanadium batteries.
This is based on performance tests conducted by the accredited institution Korea Testing & Research Institute (KTR), and arithmetically, it corresponds to more than six times the output compared to general lithium-ion batteries.
According to the company, they plan to begin full-scale commercialization and global market penetration starting next year, and are planning joint ventures (JVC) with leading overseas energy-related companies for global business expansion. KOSEN is expected to be responsible for production.
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