[Click e-Stock] "Nano Team to Begin Mass Production of Thermal Runaway Prevention Pads Next Year"

On June 19, Korea Investment & Securities analyzed Nano Team, stating, "Sales of thermal runaway prevention pads, which are expected to be the company's main growth driver, are projected to begin in earnest starting next year."

Nano Team is a company specializing in thermal management materials for electrification, established in 2016. Its flagship product, a heat dissipation material, prevents performance degradation and reduces fire risk by releasing heat generated from batteries to the outside. In 2017, Nano Team was selected as a main supplier for Hyundai Motor Group and has since supplied its products for key models including the Kona EV, Ioniq 5, and Ioniq 9.

On this day, Park Jeongin, a researcher at Korea Investment & Securities, stated, "The company's consolidated sales in the first quarter were KRW 9 billion, down 11.1% year-on-year but up 38.1% quarter-on-quarter," adding, "It is positive that the company returned to profitability for the first time in four quarters." Operating profit was KRW 100 million, down 83.4% year-on-year, but turned profitable compared to the previous quarter.

The downcycle in the electric vehicle market continues. Park explained, "A combination of factors contributed, including increased shipments of Nano Team's gap fillers due to expanded inventory in the United States by client companies, the reflection of new domestic orders, and cost efficiency improvements. In April, the company also secured a new order worth KRW 12 billion from Stellantis, achieving diversification of its customer base."

However, due to the limited growth of the electric vehicle market, performance pressure is expected to persist. From the second quarter, depreciation expenses from the new Ulsan plant will also be reflected in costs, which is expected to weigh on profitability.

Thermal runaway prevention pads, which are expected to be the company's core growth driver going forward, are projected to generate significant sales starting next year. This product is a material that delays the spread of battery fires, and with increasing safety concerns regarding EV batteries and the strengthening of related regulations both domestically and internationally, demand is expected to rise. The first mass production is scheduled for the first quarter of 2026 and will be applied to Hyundai Motor's GV90.

Park stated, "The product has a price advantage of more than 50% lower and durability more than three times higher compared to competing products, making it superior in both price and performance." "The average selling price (ASP) is expected to be more than three times higher than that of existing heat dissipation materials, making it a key driver for product mix improvement and top-line growth," he added.