IM is set to raise 5 billion KRW in funds through attracting strategic investors.
On the 10th, IM announced that it will change the subscriber for its 5 billion KRW third-party allotment paid-in capital increase to KG Energy Solution. The scheduled payment date for the capital increase is the 20th of this month.
The secured funds will be used to improve the company's financial structure and strengthen business competitiveness. This investment attraction is not just a financial investment but a strategic one, expected to create synergy in IM’s new business of composite copper foil film.
KG Energy Solution is a specialized company in electric three-wheelers (E-TukTuk) and electric motorcycles. Based on proprietary advanced Battery Management System (BMS) technology and high-performance charging systems, it develops eco-friendly electric mobility solutions. Currently, it is focusing on penetrating the Southeast Asian market, centered on participating in the Sri Lankan government’s project to convert 500,000 internal combustion engine TukTuks to E-TukTuks.
With this investment as a turning point, KG Energy Solution plans to apply IM’s composite copper foil film technology to its next-generation battery modules in the mid to long term to enhance price competitiveness and safety. Southeast Asia, the main market for E-TukTuks, requires safer charging and battery systems for applying high-performance secondary batteries due to insufficient power infrastructure and poor road conditions.
An IM official stated, "Once this strategic investment is completed, we expect strengthened financial stability and synergy effects in the secondary battery materials business. In particular, we will be able to rapidly expand the application of composite copper foil film, a next-generation secondary battery material, to batteries for E-TukTuks and electric motorcycles."
He added, "Going forward, we will focus more on enhancing corporate value through growth based on active business cooperation between the two companies."
Meanwhile, IM has started mass production and sales of composite copper foil film developed with its own technology. It has established a mass production system capable of continuously producing composite copper foil film in rolls up to 5,000 meters in length and is currently discussing supply with domestic and international secondary battery manufacturers and material companies.
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