KG ENERCHEM stated that it signed a contract with Umicore, cathode material manufacturer in Belgium ranked second in the world, regarding supply of nickel sulfate.
KG ENERCHEM is the first South Korean business to localize nickel sulfate that is a key raw material used during manufacturing of cathode materials. It is planning to secure more customers in South Korea and foreign countries by signing a contract with Umicore.
Umicore is a multinational cathode material manufacturer and it is currently ranked second in the world followed by Nichia Corporation. KG ENERCHEM succeeded in localizing nickel sulfate in 2014.
KG ENERCHEM is planning to supply 500 tons of nickel sulfate by end of this year including initial supply of 24 tons. It is planning to supply 500 tons sequentially after Umicore is done testing its initial supply.
After being incorporated into KG Group in March of 2017 and working on normalization of management for two years, it achieved 80% yield on nickel sulfated during the first half of this year. It is currently producing 24 tons of nickel sulfate on daily average and it is planning to increase output of nickel sulfate to 33 tons by end of this year by continuing to improve yield and manufacturing process.
“It is encouraging to secure Umicore as our customer along with South Korean cathode material manufacturers such as ECOPRO BM and POSCO Chemical and Chinese businesses.” said a representative for KG ENERCHEM. “We are planning to diversify markets after 2020 according to a recent trend of increased demands for secondary batteries.”
Staff Reporter Jung, Hyeonjung | firstname.lastname@example.org