Solus Advanced Materials

Solus Advanced Materials secured a five-year contract worth about 200 billion won ($158 million) to supply copper foils to Automotive Cells Company (ACC) for its first gigafactory in France, starting in 2024.

Solus Advanced Materials signed an MOU with Toyota Tsusho to establish a joint venture in North America for producing 30,000 tons of copper foils per year, targeting EV battery markets. The JV is expected to start production in 2024.

Solus Advanced Materials' copper foil from its Hungary Plant 1 received final quality approval from LG Energy Solution, with mass production imminent. A supply contract worth about $380 million was signed in July 2019 for supply from 2021 to 2025 in Europe.

Solus Advanced Materials received final quality approval from LG Energy Solution and began supplying battery foil (copper foil for EV batteries) under a $380 million medium-to-long-term supply contract signed in July 2019. Supply is for Europe, starting January 2021 for five years.