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POSCO Holdings and ProLogium Sign Agreements for the Development and Supply of Materials Supporting ProLogium's Mass Production of Solid-State Batteries

  • POSCO Holdings will work with ProLogium to develop materials with the intention to supply ProLogium for the production of its next-generation solid-state batteries
  • POSCO Holdings will also invest double-digit million US dollars in ProLogium (the "Placement")
  • Combining POSCO Holdings's strong capabilities in manufacturing of battery materials and access to raw materials, this collaboration further empowers ProLogium's plan to bring its solid-state battery technology to mass production by the end of 2022

SEOUL, South Korea, May 13, 2022 /PRNewswire/ -- POSCO Holdings, in line with its plan to transform itself into an eco-friendly future materials company, today announced it has entered into an agreement with ProLogium (the "Company"), a global leading next-generation solid-state battery manufacturer, to support ProLogium for the development and supply of cathode, anode and solid electrolyte materials needed for the production of ProLogium's next-generation solid-state batteries.

Under the arrangement, POSCO Holdings will invest in ProLogium and become a long-term strategic partner of the Company. The two parties will work together to develop and manufacture anode, cathode, and solid electrolyte materials that meet ProLogium's specifications for its proprietary solid state battery technology. ProLogium and POSCO Holdings aim at entering a preferred supply arrangement upon the successful development of the materials. Such arrangement will provide POSCO Holdings with direct access to the highly attractive solid-state battery market, and will in turn enhance supply security for ProLogium and its customers.

"POSCO Holdings will continue to expand its secondary battery portfolio and strengthen its competitiveness in next-generation materials through cooperation with innovative companies such as ProLogium," Mr. Kyungsub Lee, the Chief of LiB Materials Business of POSCO Holdings said.

POSCO Holdings Inc., and JK, a Korean solid electrolyte material manufacturer, established a joint venture called POSCO JK Solid Solution (the "JV") in February this year and have prepared for construction since then. The JV plans to begin production of solid electrolytes from the second half of this year. Also, POSCO Chemical, a subsidiary of the POSCO Holdings responsible for battery materials manufacturing, announced plans to form a joint venture in North America with a global automaker to establish a supply chain for key battery materials in North America.

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POSCO Holdings and ProLogium Sign Agreements for the Development and Supply of Materials Supporting ProLogium's Mass Production of Solid-State Batteries POSCO Holdings will work with ProLogium to develop materials with the intention to supply ProLogium for the production of its next-generation solid-state batteriesPOSCO Holdings will also invest double-digit million US dollars in ProLogium (the …

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