2024-03-20 Posco Future M hits record sales in 2023
Mar. 20, 2024 - According to Posco Future M, it broke the record in revenue last year, driven by large-scale supply deals of electric vehicle battery materials. According to the company’s financial result, annual sales revenue soared 44.2 percent on-year to 4.76 trillion won ($3.57 billion) in 2023. In...
2024-03-09 POSCO Future M plans to import African graphite to cut China reliance
Mar. 9, 2024 - POSCO Future M, the only major battery material in Korea that produces cathode materials, has signed a contract with Syrah Resources Limited to receive a large amount of natural African graphite. It is interpreted that it is diversifying the graphite supply chain, which had been entirely dependent on C...
2024-01-19 POSCO Future M to double artificial graphite anode output
Jan. 18, 2024 - In response to the U.S. Inflation Reduction Act (IRA) that excludes Chinese companies, POSCO Future M, a subsidiary of South Korea’s POSCO Group, will double its production capacity of artificial graphite anodes to over 36,000 tons by 2025. According to the Ministry of Trade, Industry, and Energy...
2023-12-15 POSCO's digital transformation wing to develop robots for steel production
Dec. 14, 2023 - POSCO DX, the digital transformation wing of South Korea's steel group POSCO has partnered with Chosun Refractories, a domestic refractory product maker, to create robots for steel production. The robots will be used for dangerous tasks such as handling high-temperature molten iron generated in a b...
2023-10-16 POSCO FutureM cuts carbon by recycling waste refractories
Oct. 16, 2023 - South Korea's battery materials maker POSCO Future M Co. announced on Monday its achievement in reducing significant carbon footprints by fully recycling waste refractories, a pivotal industrial material. Primarily extracted from seawater magnesia and shaped similarly to bricks, refractories are k...
2023-08-28 POSCO Future M eyes 3.4 tln won profit by 2030 with secondary battery materials
Aug. 28, 2023 - POSCO Future M Co. said Monday it aims to achieve 3.4 trillion won (US$2.57 billion) in annual operating profit by 2030 as it accelerates the expansion into the manufacturing of secondary battery materials amid the robust electric vehicle (EV) demand. The chemical unit of South Korean steel giant ...
2023-08-01 POSCO Future M Achieves Record-High Quarterly Sales
Aug. 1, 2023 - POSCO Future M expanded its battery material product portfolio and achieved record-high sales in the second quarter once again, breaking the record-high sales it attained in the first quarter. On the 24th, POSCO Future M disclosed its second-quarter financial results with a consolidated s...
2023-05-01 POSCO Future M achieves record quarterly sales
May 1, 2023 - POSCO Future M achieved its highest quarterly sales on record, driven by the expansion of its battery materials business. POSCO Future M announced on the 27th of April that it had posted consolidated sales of KRW 1.1352 trillion and operating profit of KRW 20.3 billion for the first quarter. The com...
2023-03-20 Official launch of ‘POSCO Future M’, an eco-friendly future materials company
Mar. 20, 2023 - POSCO Chemical changed its name to 'POSCO FUTURE M' and is reborn as an eco-friendly future materials company. POSCO Chemical confirmed the name change to POSCO Future M at the general shareholders' meeting held at the Pohang headquarters on the 20th, and then held a mission declaration ...
2023-02-25 POSCO Chemical to change name to POSCO Future M
Feb. 24, 2023 - POSCO Chemical Co., a basic industrial materials and battery components maker, said Friday it will be renamed POSCO Future M Co. as part of its efforts to accelerate the transformation into a green company. The decision, approved by the board at a meeting earlier in the day, will be finalized at a...
2023-01-28 POSCO Chemical's 2022 operating income at record high
Jan. 28, 2023 - POSCO Chemical Co., a major South Korean manufacturer of secondary battery materials, said Friday it posted record-high operating profit last year, boosted by solid demand for electric vehicle (EV) battery components. Operating income reached 165.9 billion won (US$134.7 million) in the J...
2023-01-04 Kim Joon-hyeong inaugurated as the 18th president of POSCO Chemical
Jan. 4, 2023 - POSCO Chemical has had an inauguration ceremony for its 18th president, Kim Joon-hyeong, who at the ceremony emphasized safety management and the securing of sustainable competitive advantages. On the morning of the 3rd, POSCO Chemical held an inauguration ceremony for its new president, ...
2023-01-02 POSCO Chemical signs a KRW 939.3 billion contract with Ultium Cells LLC to supply artificial graphite anode material
Jan. 2, 2023 - POSCO Chemical has signed a contract with Ultium Cells LLC of the United States for a large-scale supply of artificial graphite anode materials. It is targeting the global market by achieving its first export performance beyond the localization of materials. On December 4th, 2022, POSCO C...
2022-12-01 POSCO Chemical completes the world’s largest cathode production plant
Dec. 1, 2022 - POSCO Chemical has completed the construction of the world’s largest cathode material plant in Gwangyang, which will have an annual capacity of 90,000 tons and is starting full-scale operation. The plant is expected to play a crucial role in laying the groundwork as the company grows as a top-tier ba...
2022-11-01 POSCO Chemical Q3 net soars on robust battery materials biz
Nov. 1, 2022 - POSCO Chemical Co. said last Monday its third quarter net profit jumped 60.5 percent from a year earlier on the back of solid growth in the lucrative battery materials segment. Net income came to 65.6 billion won (US$45.7 million) in the July-September period, compared with a net profit o...
2022-09-08 POSCO to promote normal operation of blast furnaces at Pohang Works
Sep. 8, 2022 - POSCO’s typhoon damage restoration work is accelerating. POSCO is planning to operate the three blast furnaces at the Pohang Works, which are currently blown down, sequentially from the 10th. The Iron and Steel Making substation, which suffered flood damage, will be normalized this morning, and...
2022-08-24 POSCO starts to design the HyREX demonstration plant
Aug. 23, 2022 - POSCO started designing a hydrogen reduction steelmaking demonstration plant and took the first step in the 2050 carbon-neutral roadmap. POSCO signed a business agreement for hydrogen reduction steelmaking engineering technology cooperation with Primetals, a British plant construction company o...
2022-07-01 Britishvolt signs agreement for battery materials with Posco Chemical
Jul. 1, 2022 - According to the latest reports, Electric Vehicle (EV) battery startup, Britishvolt has signed a deal with South Korean battery materials firm Posco Chemical. This deal is designed to secure the supply of cathode and anode material. Britishvolt chief executive Orral Nadjari stated, “Gravel the way to...
2022-03-17 POSCO Chemical to unveil its next generation materials lineup at InterBattery 2022
Mar. 17, 2022 - POSCO Chemical will unveil its unparalleled battery materials technology at InterBattery 2022 to be held in COEX, Seoul from March 17 to 19. Under the theme of The New Chapter for Green Tomorrow, the company will present its key battery materials and innovative technology for future mobility vehicles...
2022-03-08 POSCO Chemical enters North American EV battery market via GM JV in Canada
Mar. 8, 2022 - POSCO Chemical and General Motors (GM) will build a cathode material joint venture in Quebec, Canada, and use it as a facility to establish a supply chain for key battery materials in North America. The two companies as part of the Joint Venture plan to invest approximately 400 million US...
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