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Electronics Production |

SK Innovation partners with US company to develop lithium metal batteries

PolyPlus Battery Company, a privately-held company focused on the development of rechargeable Li metal battery with a conductive glass separator,has entered into the first stage of a joint development agreement with Korean chemical company SK Innovation.

Following a due diligence process, SK selected PolyPlus as partner for their “global consortium” The collaboration is focused on PolyPlus’ solid-state lithium anode laminate that has the potential to double the energy density and cycle life of rechargeable batteries. The initial goal is to produce and test prototype cells to demonstrate increased volumetric and gravimetric energy density and cycle life relative to existing Li-ion cells, a press release reads. SK brings knowledge and capabilities around manufacturing and commercialising batteries for electric automobiles to the partnership. The company has built an efficient battery production infrastructure through continuous investment and partnerships with major global automakers. SK is providing development funding and is receiving an option to make a significant investment in PolyPlus equity at a capped price per share and an option to negotiate a license to PolyPlus technology in the field of electric automobiles. However, other terms of the agreement were not disclosed. “This is a first step in what may be an important long term partnership”, says Steve Visco, PolyPlus CEO, in the release. “SK has been a pleasure to work with and provides complimentary capabilities to facilitate the commercialization of PolyPlus’ unique glass protected Li metal battery technology in the automotive field.” Seongjun Lee, Head of Institute of Technology Innovation SK Innovation, says, “SK is optimistic about the prospects for this evolving collaboration. We are excited to play a significant role in developing PolyPlus’ potential breakthrough in battery technology, and working towards better solutions to global energy needs.”

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March 15 2024 2:25 pm V22.4.5-1
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