KEMTech showed strong performance in early trading.
As of 9:04 a.m. on July 1, KEMTech was trading at 2,535 won, up 21.88% (455 won) from the previous day.
Investor sentiment was boosted by news that KEMTech had signed a definitive agreement with a global battery company to supply prismatic battery can products for a U.S. ESS (Energy Storage System) project. The supply contract is valued at approximately 80 billion won, with products to be supplied locally in the U.S. over a five-year period from the end of this year through 2030.
As the expansion of artificial intelligence (AI) data centers has made securing a stable power grid a top priority for companies, the ESS market has also been experiencing rapid growth recently.
A KEMTech representative stated, "Looking ahead, there are expectations for additional supply opportunities not only through ESS projects that our global battery partner plans to pursue in other U.S. states, but also through electric vehicle battery projects utilizing various form factors such as prismatic and cylindrical cells." "Through these developments, KEMTech's business foundation in the U.S. and its position in the global supply chain will be further strengthened, laying the groundwork for mid- to long-term growth in performance," the representative added.
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