Hyosung to acquire Umicore’s battery materials unit EMM

Core Insights - HS Hyosung Advanced Materials Corporation is expanding into the battery materials sector by acquiring an 80% stake in Extra Mile Materials BV, a subsidiary of Umicore BV, which will enable Hyosung to enter the growing global battery materials market [1][2][3] Group 1: Acquisition Details - The acquisition involves Hyosung purchasing an 80% stake in Extra Mile Materials BV, with Umicore retaining a 20% stake [2] - Hyosung's investment in Umicore amounts to EUR 120 million, and a separate joint venture is planned, pending Belgian government approval [3] Group 2: Market Outlook - The global battery materials market is expected to grow significantly, with electric vehicles projected to account for 40% of global vehicle sales by 2030, up from 20% currently [2] Group 3: Technological Advancements - Hyosung anticipates that silicon anodes will replace graphite anodes in lithium-ion EV batteries due to their higher energy density, faster charging capabilities, and improved driving range [4] - Umicore's silicon-anode technology, protected by over 30 patent families, is designed to provide key benefits for the EV industry, including enhanced energy density and reduced costs [5]