All-Solid-State Battery Material Company Solibis Secures 12.4 Billion KRW Investment

Aerial view of Solivis Gangwon Hoengseong Factory. Provided by Solivis

Solibis, a specialist company in sulfide-based solid electrolytes led by CEO Dongwook Shin, announced on the 12th that it has successfully secured bridge investment worth 12.4 billion KRW for its solid electrolyte mass production factory and operational funds located in Hoengseong, Gangwon Province.

Solibis explained that this bridge investment was led and participated in primarily by existing shareholders and investors. Additionally, the Small and Medium Business Corporation (SBC) joined as a new investor, recognizing Solibis's global growth potential. With this, Solibis has raised a total of 42.2 billion KRW in investments since its establishment in 2020.

Solibis stated, "Since securing 20 billion KRW in Series B funding last February, we have focused on establishing the mass production factory and consecutively announced four types of all-solid-state material mass production models, demonstrating our market-leading capabilities, which seems to have drawn support and participation from existing shareholders."

Following the successful bridge investment, Solibis plans to devote full efforts to installing mass production equipment and preparing for mass production at the Hoengseong factory in Gangwon Province, scheduled for completion in the second quarter of this year.

Solibis intends to produce solid electrolytes by applying its self-developed '3rd generation wet synthesis mass production platform' production process, investing over 10 billion KRW in research and development. A company representative explained, "It shows the highest ionic conductivity known from all academic research and testing so far, and above all, its greatest strength is the ability to quickly respond to customer requests regarding product particle size and distribution."

The Solibis Hoengseong factory is a large-scale solid electrolyte mass production plant currently under construction with an initial investment of about 21 billion KRW. It consists of three factory buildings: the main factory, warehouse, and office building. Upon completion, it will have an annual production capacity (CAPA) of 40 tons.

Recognized for its technological prowess and innovation, Solibis was selected as an Innovative Small and Medium Enterprise (Inno-Biz) by the Ministry of SMEs and Startups in July last year and was designated as a leading company in technology protection by the Foundation for Cooperation between Large, Small, and Medium Enterprises and Agriculture, Forestry and Fisheries in November of the same year.

CEO Dongwook Shin said, "We will complete the Hoengseong factory in the second quarter and, as soon as the completion procedures are finished, begin trial production for mass production, positioning ourselves as a core global battery material company leading the safe all-solid-state battery market."

Founded in 2020 by Professor Dongwook Shin of Hanyang University's Department of Materials Science and Engineering, Solibis is an innovative technology company holding over 100 domestic and international patents related to solid electrolyte mass production core technologies.