Kangwon Energy is exporting mixing equipment, which is an essential equipment for battery electrode processes, to European battery makers. This is Kangwon Energy's first time supplying mixing equipment after entering the battery equipment market. European battery makers are currently building gigawatt-class electric vehicle battery plants in Europe. This will be enough to supply 700,000 electric vehicles. After the initial supply, additional supplies are expected to increase significantly.
Mixing equipment is the first step in the electrode process, and is a process of making a slurry of uniform concentration by adding the basic materials, such as active materials, conductive materials, binders, and solvents. It is a device that requires the most difficult technology among electrode devices. TSI, Yunsung F&C, and Jeil Machine are leading the mixing equipment market. Competition in the mixing equipment market is expected to intensify, with the addition of Kangwon Energy.
Kangwon Energy recently acquired a 100% stake of Kangwon E-Solution, valued at KRW 2 billion. Kangwon E-Solutions has been in the battery equipment business. It is promoting its' secondary battery electrode and material equipment business. Kangwon Energy plans to aggressively target the secondary battery equipment market using its technical expertise from Kangwon E-Solution as a foundation. Jin-yong Shin, CEO of Kangwon Energy, said, “We have expanded our business portfolio to equipment related to secondary batteries," adding that, "We expect the orders to continue in all areas of the battery supply chain."
Kangwon Energy has been prominent in the industrial energy plant field. Chemical plants and environmental energy facilities are its main businesses. Sales last year amounted to KRW 44 billion.
Reporter Ji-woong Kim jw0316@etnews.com