Samsung SDI has begun injecting capital into EcoPro EM, a joint venture with EcoPro BM, a supplier of EV battery cathode materials to Samsung. EcoPro BM in turn is a subsidiary of EcoPro, a company that develops and produces technologies to remove and prevent air pollution from various sources. EcoPro GEM, another EcoPro subsidiary, is a manufacturer of high-quality battery material precursors.
Samsung SDI said it will contribute 48 billion won fund a total of 120 billion won (US $39 million) to the JV for a 40% stake, while EcoPro BM will contribute 72 billion won (US$58 million) for a 60% share.
EcoPro EM expects to begin construction of a cathode material plant in Pohang, North Gyeongsang Province, within this year. The plant will start production of cathode materials for NCA 811 batteries in the first quarter of 2022.
EcoPro BM aims to increase its production capacity of cathode materials by 150,000 metric tons including that of the JV and manufacture a total 180,000 metric tons in 2023.
EcoPro BM currently offers two main product lines: its NCA series (Ni-rich), and advanced NCM.