POSCO Future M

POSCO Future M held a groundbreaking ceremony for new NCA cathode material production facilities in Gwangyang, South Korea, with an investment of 683.4 billion won ($514.2 million). The facilities will have an annual capacity of 52,500 tons and are expected to be completed by April 2025.

P&O Chemical, a joint venture between POSCO Future M and OCI Holdings, completed a pitch factory at the Tancheon Industrial Complex in Gongju, Chungcheongnam-do. The plant can produce 15,000 tons annually of high softening point pitch for EV battery anode coatings.

POSCO Future M announced a plan to invest 683.4 billion won (US$529 million) to build a facility to produce high-nickel cathodes at its main cathode complex in Gwangyang, South Korea. The facility will have an annual capacity of 52,000 tons.

POSCO Future M has signed a contract to supply approximately 30.2595 trillion won worth of high-nickel NCM and NCMA cathodes to LG Energy Solution from 2023 to 2029.

POSCO Future M has won a 30.3 trillion won (US$22.6 billion) order to supply high-nickel cathodes to LG Energy Solution over seven years, from 2023 to 2029.

POSCO Future M will invest 392 billion won ($300 million) to build its first NCA cathode materials plant with annual capacity of 30,000 tons in Pohang, South Korea. Construction starts in H1 2023, production from 2025.