'Battery Challenge 2024' Held
No Country Restrictions... Deadline on 30th
LG Energy Solution is set to discover promising startups in the global battery sector to find future growth engines for batteries.
On the 3rd, LG Energy Solution announced that it will hold an open innovation program called 'Battery Challenge 2024' to identify startups with differentiated technology and business models in the battery field.
Startups in the battery sector can participate in the Battery Challenge regardless of their country. Applications must be submitted by the 30th of this month through the dedicated website, which will open on the 4th.
The competition categories include ▲battery materials ▲battery management systems (BMS) ▲battery processes and control ▲quality management ▲recycling and reuse ▲smart factory ▲metal sourcing ▲New to LG, totaling eight fields. The newly established Metal Sourcing and New to LG categories focus on the importance of securing raw materials for batteries and creating future businesses related to energy beyond batteries.
LG Energy Solution will receive initial proposals from applicants, then select the final companies through comprehensive evaluation and in-depth video interviews.
Selected companies will receive a prize of up to $30,000 (approximately 40 million KRW). They will also have opportunities for technical collaboration and investment review.
LG Energy Solution stated that through active open innovation activities, it will focus on securing investment targets for preparing future battery technologies and analyzing technology trends. Through this, the company plans to secure leadership in the battery industry, actively discover next-generation future growth engines, and maximize customer value.
Kim Jeyoung, Chief Technology Officer (CTO) of LG Energy Solution, said, "We will proactively discover promising battery startups and continuously collaborate with them to further solidify our future technology leadership. Based on overwhelming technological leadership, we will do our best to provide differentiated value that customers desire."
LG Energy Solution has established the Front Research Lab (FRL), a research center conducting next-generation battery R&D projects, collaborating with Korea Advanced Institute of Science and Technology (KAIST), University of California San Diego (UCSD) in the U.S., University of M?nster and Helmholtz Institute in Germany, among others. The company has achieved results such as securing core lithium metal battery technology, developing dry electrode processes for solid-state batteries, and silicon anode material development.
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