SKIET secures battery separator deal in North America
While the details, such as the size of the deal and the client's name, remain undisclosed, SKIET noted that the supply is expected to be produced at either its Jeungpyeong facility in North Chungcheong Province or its plant in Dabrowa Gornicza, Poland. Separators are critical materials that separate a battery's anode from its cathode to ensure the smooth flow of electricity.
The company anticipates a further increase in separator supplies, capitalizing on the escalating trade war between the US and China. The second Donald Trump administration recently imposed a total tariff of 104 percent on Chinese goods.
Chinese companies, including Shanghai Energy New Materials, currently dominate the global separator market. According to market tracker SNE Research, China's market share in the battery separator industry was 88.8 percent in the fourth quarter of last year.
If Washington–Beijing tariff tensions continue, demand for Korean separators will likely increase, as only a few companies in Korea and Japan manufacture separator products, according to SKIET.
Following a shift in the power dynamics of the battery materials sector, SKIET has signed a long-term separator supply deal for prismatic lithium iron phosphate batteries worth 291.4 billion won ($199.8 million) with a global client. In addition, it is negotiating with multiple companies in North America and Europe to supply separators for EV and energy storage system batteries.
'Our customer diversification strategy, focusing on the North American region, is leading to visible outcomes,' said an SKIET official. 'This separator supply agreement increases the company's facility utilization rates as well as boosts sales volume, which is expected to significantly improve our profitability.'
Last year, SKIET's sales revenue dropped 66.4 percent to 217.9 billion won from the previous year, turning to a loss of 244.4 billion won, primarily due to a slowdown in demand for EVs.
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