Seoul: POSCO Future M Co., the battery materials subsidiary of POSCO Holdings Inc., announced that it has signed a memorandum of understanding (MOU) with U.S.-based startup Molten Industries to jointly develop advanced battery materials.
According to Yonhap News Agency, the agreement aims to bolster POSCO Future M's anode materials supply chain by integrating its anode technologies with Molten's innovative methane-based graphite production technology. POSCO Future M plans to process the graphite produced by Molten through methane pyrolysis into spherical graphite, which will then be utilized to manufacture natural graphite anodes at its facility in Sejong, located approximately 110 kilometers south of Seoul.
Hong Young-jun, head of POSCO Future M's technology research laboratory, highlighted the strategic importance of the partnership. "We have largely depended on mined graphite, but this partnership will allow us to secure key battery materials by integrating the technologies of both companies and diversifying our raw material supply chains," he stated.
Molten Industries, located in California, is currently the only company capable of producing graphite through methane pyrolysis technology, a fact noted by POSCO Future M officials.