Pino Supplies NCM Precursors to L&F... "First Success in Cathode Material Precursor Business"

Secondary battery material company Pino announced on the 22nd that it has signed a contract to supply 80 tons of nickel, cobalt, and manganese (NCM) precursors from L&F. This is the first order volume following the memorandum of understanding (MOU) with L&F for the supply of NCM precursors.

The contract amount for this NCM precursor supply is $808,000 (approximately 1.1 billion KRW). Given the high demand for precursors used in secondary batteries, it is expected that additional deliveries and an expansion of supply volume will follow starting with this contract.

Last month, Pino signed an MOU with L&F to supply NCM precursors and agreed to supply 60,000 tons by 2028. The supplied precursors will be used in the manufacture of cathode materials for secondary batteries, which are L&F’s main products.

A Pino representative said, “We were able to supply in a shorter time than expected after signing the MOU with L&F regarding the supply of NCM precursors. Since our technology and supply capabilities related to precursors have been recognized, we expect additional contracts to follow starting with this supply.”

He added, “In addition to L&F, we will accelerate sales efforts for precursor supply contracts with domestic and international battery and material companies, as well as global automakers.”