LG Energy Solution has embarked on securing the next-generation lithium metal battery technology through a stake investment in a U.S. battery development venture.
On the 25th, LG Energy Solution announced that it made an equity investment in Arizona-based Sion Power and will engage in technological cooperation. The specific share ratio and investment amount were not disclosed according to the agreement between the two companies.
Lithium metal batteries use metal component anodes instead of graphite anodes found in traditional lithium-ion batteries, offering higher energy density per unit and reducing weight and volume. With this investment, LG Energy Solution is expected to secure an advantage in lithium metal battery technology.
Sion Power, established in 1994, is recognized as a leading venture in next-generation battery technology, leading the charge in the lithium metal battery sector. They hold more than 470 international patents, including critical patents related to the anode protection layer, a key element in lithium metal battery development.
The anode protection layer technology is attracting attention as it can address the typical challenge of ‘dendrite’ formation in lithium metal battery development. Sion Power explains that their lithium metal battery, developed based on this technology, has the same size and weight as existing lithium-ion batteries but can store more than 1.5 times the energy.
This investment is being executed through LG TV (LG Technology Ventures), a corporate venture capital firm that LG Energy Solution has pledged to invest in, and the private equity fund BCM (Bricks Capital Management).
A representative from LG Energy Solution stated, “This investment is a strategic move to solidify our leadership in the next-generation battery technology industry,” adding, “LG Energy Solution will create new value and competitiveness through continuous investments in new technologies and businesses to provide the utmost customer value.”
Moreover, LG Energy Solution has announced the development of the world’s first ‘borate-pyran based liquid electrolyte’ that can significantly enhance the performance of lithium metal batteries, in collaboration with a joint research team from KAIST. They are also hastening the development of next-generation batteries, including solid-state and lithium-sulfur batteries, not just lithium metal technology.
Jin Sang Lee daedusj@autodiary.kr