Date: 04/04/2024

Nexeon starts construction of silicon anode material plant in S. Korea

Nexeon announced starting of construction of its inaugural commercial-scale silicon anode material plant, marking a significant stride in advancing battery technology. With this facility in Gunsan, South Korea, Nexeon aims to meet the escalating demand for high-performance silicon anode materials, aligning with its mission to revolutionize lithium-ion battery technology.

On-track Production Schedule: Nexeon to commence delivery of silicon anode materials in 2025, in adherence to its binding supply agreement with Panasonic. The plant's strategic location adjacent to OCI's facilities ensures a seamless supply of silane, a critical raw material, facilitating efficient production processes.

Enhanced Battery Performance: Nexeon's silicon anode materials enhance the energy density of lithium-ion batteries, thereby extending the range and improving charging performance of electric vehicles. The company's innovative technology enables easy integration into existing battery production processes without additional capital expenditure.

Strategic Partnership with OCI: The exclusive partnership with OCI ensures a secure and cost-effective supply of silane, vital for Nexeon's production. Leveraging OCI's expertise in advanced materials and Nexeon's silicon anode technology, the collaboration aims to deliver high-quality, competitive solutions to meet growing market demands.

Sustainable Production Practices: By utilizing by-products from OCI's semiconductor manufacturing process to produce silane, the collaboration emphasizes sustainability and cost-competitiveness. The streamlined production pipeline minimizes transportation costs and aligns with Nexeon's sustainability mission.

Attending the groundbreaking ceremony were: Nexeon CEO Scott Brown, Jeonbuk State Vice-Governor Jonghun Kim, Gunsan Mayor Imjune Kang, National Assembly Member Youngdae Shin, Jeonbuk State Council Taechang Kang and Dongku Kim, OCI CEO Yooshin Kim, and SC Engineering EVP Dae-sik Wang. This ceremony is the first step to implementing an eco-friendly project to produce lithium ion battery materials, marking Gunsan City as a hub for innovation.

In addition, management of SKC, SJL Partners, BNW and Shinhan Securities (investors in Nexeon) joined the groundbreaking ceremony, adding their support for the event.

"Breaking ground on our first commercial production facility is the culmination of many years of dedication and technical accomplishments by the Nexeon team. It marks a key moment in our growth and reflects the commercial interest customers have shown in our technology," said Scott Brown, CEO of Nexeon. "By beginning construction on our first commercial production site, we are on track to deliver the game-changing benefits of silicon anode materials to the global battery market."

"We are thrilled to partner with Nexeon in this endeavour," said Yoo-Shin Kim, President (CEO) of OCI. "This collaboration leverages the strengths of both companies, combining OCI's expertise in advanced materials with Nexeon's leading silicon anode technology. Together, we will deliver high-quality, cost-competitive solutions that accelerate the future of battery technology.". OCI will produce silane by utilizing by-products from an existing manufacturing process used for semiconductor materials, further compounding cost-competitiveness.

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