HiSonic Secures Long-Term Supply of Auxiliary Materials to Global Secondary Battery Companies... "First Achievement of North America Branch"

HiSonic achieved its first success in participating in a long-term project with a global secondary battery company just four months after establishing its North American subsidiary.

On the 17th, HiSonic announced that it had secured a long-term supply contract for secondary battery materials for a global battery company's factory in the United States.

The project products are secondary battery can-cap assembly materials, expected to be worth a total of 30 to 40 billion KRW over the next 10 years. With this long-term supply order, HiSonic has secured an additional revenue source beyond its current optical business. Starting with this project, the company plans to focus on securing various secondary battery-related projects in the North American market.

Since winning the project earlier this year, HiSonic has begun developing the material products. It has completed sample supplies to Shinheung SEC and Sangsin EDP, the first-tier vendors of the global secondary battery company. Full-scale mass production and supply are planned to start from July this year.

The secondary battery materials supplied by HiSonic are materials loaded into the production process after being assembled into cans, which are containers holding battery contents such as electrode materials, and cap assemblies equipped with safety devices such as gas venting devices (VENT) to prevent explosions and fires.

A company official stated, “We succeeded in achieving a long-term project worth 30 to 40 billion KRW just about four months after establishing our North American subsidiary,” adding, “We plan to continuously enhance our competitiveness in the North American market not only in the secondary battery can-cap assembly parts and materials business but also by expanding into automotive parts-related businesses.”

He continued, “With the reference built through this project with a global company, the expansion of our secondary battery business is expected to gain momentum,” and added, “We plan to strengthen market responsiveness by expanding our North American factory in response to increased demand in the region.”