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SK Energy-Taiwan Formosa to Jointly Develop Next-generation Batteries Contents
title SK Energy-Taiwan Formosa to Jointly Develop Next-generation Batteries
attachment date 2010-12-29 count 18125
SK Energy-Taiwan Formosa to Jointly Develop Next-generation Batteries


- Two companies sign MOU for joint development of energy storage batteries
- Partnership expected to create synergy between SK Energy’s battery technology and Formosa Group’s positive electrode technology
- The first battery partnership with a Taiwan company gives a boost to SK Energy’s push into the mainland China market

SK Energy ((President & CEO: Ja-Young Koo) inked a deal with Formosa Group, Taiwan’s largest and also Asia’s largest private oil and petrochemical company, for energy storage battery, considered one of key next-generation energy technologies.

The two companies signed a memorandum of understanding (MOU) for joint development of energy storage batteries at a ceremony held at the SK Energy headquarters in Seorin-dong, Seoul on the 28th. The ceremony was joined by top-ranking officials of the two companies including Director of SK Energy Institute of Technology Dong-Sup Kim and Vice Chairman of Formosa Chang Chun-hung.

Under the signed agreement, the two companies will together develop and produce lithium batteries for energy storage -- one of next-generation growth engines -- by adopting positive electrodes presently developed and produced by Formosa for SK Energy’s storage batteries.

An energy storage battery is a large battery which can store up to 1,000 times more energy than electric vehicle batteries. Safety is especially crucial when using energy storage batteries.

The large storage battery business is rapidly rising as power generation utilizing new renewable energy such as photovoltaic and wind energy continues to increase.

SK Energy’s advanced battery technology has been proven as the company was selected as battery suppliers for global automakers including Hyundai Motor. By partnering with Formosa which has capability to safely mass-produce lithium ion phosphate (LiFePO4) positive electrodes, the company is expected to create a significant synergy in development of safe energy storage batteries especially given that the Taiwan group’s LiFePO4 technology ensures enhanced safety versus positive electrodes used for rechargeable batteries.

Formosa can produce a large amount of LiFePO4 positive electrodes at much more cost effectively than other companies, and the deal will likely lead to development of next-generation batteries that ensure both price competitiveness and safety.

The partnership also marks the first joint development deal signed by a Korean and a Taiwanese company in the lithium battery area, and is further expected to help the two companies to enter the mainland of China, which has grown into the world’s largest new renewable energy market.

“Following the negative electrode deal with Aekyung Petrochemical, our partnership with Formosa will give a big boost to our lithium battery business,” said an official of SK Energy.

SK Energy became the world’s third battery maker to develop a lithium-ion battery separator (LiBS) in 2005, and formed a partnership with Aekyung Petrochemical in December this year to jointly develop negative electrode materials. It was selected as a battery supplier to hybrid commercial vehicles of Japan’s Mitsubishi Fuso, and is supplying batteries to the nation’s first pure high speed electric vehicle “Blue On” and KIA Motors’ new electric car. SK Energy is now building a new battery manufacturing facility in Seosan Industrial Complex to start production by 2012.


하단 텍스트 참조

[SK Energy and Formosa Group signed MOU for joint development of energy storage batteries]

하단 텍스트 참조

[SK Energy and Formosa Group signed MOU for joint development of energy storage batteries]

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