Ecopro BM, "KOSPI Transfer Within the Year... Establishing LFP Pilot Facility"

Ecopro BM has officially resolved to transfer its listing to the KOSPI.

On the 26th, Ecopro BM held a shareholders' meeting in Ochang, Chungbuk, where it approved the transfer listing to KOSPI, as well as the financial statements and the limit on directors' remuneration.

Joo Jae-hwan, CEO of EcoPro BM, is speaking at the shareholders' meeting held on the 26th in Ochang, Chungbuk (Photo by EcoPro BM).

Ecopro BM has selected NH Investment & Securities as the lead manager and plans to complete the transfer listing within this year. The transfer listing process involves applying for preliminary listing review after due diligence, and it takes about 2 to 3 months from the application for preliminary review to the actual listing.

Based on its differentiated technology as the global No.1 in high-nickel cathode materials, Ecopro BM has firmly established a management policy to aggressively overcome the chasm (temporary demand stagnation before market expansion) in the electric vehicle market.

Joo Jae-hwan, CEO of Ecopro BM, stated, "We will seek to diversify our customers by securing new clients among OEMs and cell manufacturers."

He added, "We plan to expand our cathode material portfolio, which currently focuses on premium products, to the mid- to low-priced market. We will diversify the market by applying our high-nickel single-crystal cathode mass production technology to mid-nickel cathode materials."

Furthermore, the company revealed plans to establish a production base for lithium iron phosphate (LFP) cathode materials within the year. CEO Joo explained, "We will build an LFP pilot production facility in the second half of the year to secure leading mass production technology. Through the development of various new products such as manganese-lithium rich OLO cathode materials (mid-nickel), we intend to diversify our product portfolio and expand market share."

CEO Joo also emphasized that to prepare for profitability deterioration due to metal price declines, the company will expand cathode material process development and efficiency, diversify raw material inputs such as oxide precursors, and increase productivity. He said, "We are considering various methods to reduce investment costs, such as increasing production per line, and will actively seek low-cost financing options including borrowing from Export Credit Agencies (ECA)."