NON-REGULATED INFORMATION
Umicore has entered into a strategic partnership agreement with Korea’s HS Hyosung Advanced Materials to advance and fund the industrialization, commercialization and further development of its silicon-carbon composite anode materials for electric vehicle (EV) lithium-ion batteries.
After more than a decade of research and development (R&D), Umicore’s flagship center for anode technology in Olen, Belgium, is ready to transition to industrial-scale production.
The joint venture Extra Mile Materials will further develop the technology, and scale Umicore’s existing line to an industrial demonstration plant by the end of 2026 in Olen, Belgium. Umicore will hold a minority stake of 20% in Extra Mile Materials. All of Umicore’s employees working for the anode materials activity will transfer to Extra Mile Materials and retain their employment terms and conditions.
Umicore’s partnership with HS Hyosung Advanced Materials underscores the value of our extensive know-how and commitment to innovation in next-generation anode battery technologies in this fast-evolving market.
Geert Olbrechts, EVP & CTO of Umicore
This joint venture aligns with our strategy to partner along our battery materials value chain. Scaling and valorizing the anode material technology created by our teams in Belgium demonstrates our commitment to innovation.
Bart Sap, CEO of Umicore
Umicore’s silicon-anode technology, protected by over 30 patent families, is unlocking key benefits for the EV industry, including higher energy density, longer battery range and faster charging, while ensuring supply security at reduced cost and lower carbon emissions. Umicore’s proprietary anode materials are in qualification at multiple globally leading battery cell makers.
Umicore and HS Hyosung Advanced Materials expect that closing of the transaction will occur in the coming months, pending customary regulatory approvals.
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