South Korean companies are in a race to develop a technology that replaces anode materials in lithium-ion batteries with lithium metal instead of existing materials such as graphite and silicon.

According to industry sources on Sunday, major companies such as Lotte Chemical Corp. are seeking development of lithium metal anode materials with others by forging partnerships.

Lithium metal anode materials use lithium metal as a metallic substance instead of conventional materials such as graphite and silicon.

Compared to the existing materials, lithium metal weighs only 25 percent and has 10 times the energy density. It is gaining attention as a future battery material that can increase the driving range and battery lifespan of electric vehicles.

Furthermore, it is more durable compared to graphite, which quickly deteriorates upon use and causes battery expansion.

Lotte Chemical was the first to embark on the development of lithium metal anode materials.

Last year, the company signed a business agreement with Soelect Inc., a U.S. startup that develops lithium metal anode materials and solid electrolytes.

The two companies agreed to consider establishing a joint venture and building a lithium metal anode production facility worth $200 million in the U.S. by 2025.

SKC Co. also entered into an agreement with POSCO Holdings Inc. for collaboration in the development of next-generation anode materials for secondary batteries, including lithium metal anode materials, as well as the development of process technologies for material production.

SKC aims for lithium metal anode materials that can also be applied to all-solid-state batteries.

Kolon Industries Inc. signed an equity investment agreement with Niva Corp., which possesses battery anode material technology.

“The collaboration between industries over various new materials in the secondary battery sector will accelerate,” said an industry insider. “The future of the Korean battery industry also depends on building a solid material industry supply chain.”

By Seo Jin-woo and Yoon Yeon-hae

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