LG Energy Solution’s Strategic Investment in Lithium Metal Battery Innovations
LG Energy Solution (KRX: 373220), a leading global lithium-ion battery manufacturer, has unveiled its equity investment in Sion Power, an Arizona-based startup pioneering lithium metal battery technologies.
Advancing Lithium Metal Battery Technology
LG’s investment in Sion Power, a company founded in 1994, signifies a strategic move to spearhead innovative developments in lithium metal battery technology. Unlike traditional lithium-ion batteries, lithium metal batteries employ a lithium metal anode for higher energy efficiency. Sion Power, with its substantial patent portfolio of 470 patents, addresses challenges such as dendrite formation, enhancing battery life and stability.
Preemptive Investment for Technological Leadership
The equity investment is part of LG Energy Solution’s commitment to open innovation, strategically aligning with competent partners to overcome technological challenges. By investing in Sion Power, LG aims to secure a pioneering position in next-generation battery technologies.
Collaboration through LG Technology Ventures
LG Energy Solution will execute the investment through LG Technology Ventures (LGTV), its corporate venture capital arm, and Bricks Capital Management (BCM), a private equity investment firm associated with LG Energy Solution. The move highlights LG’s dedication to fostering competitiveness and creating new values through continuous investment in next-generation technologies.
Industry Leadership and Collaboration
LG Energy Solution, with over 30 years of experience and a significant global presence, is expanding collaborations across the industry. The company actively engages with startups, exemplified by its biennial startup competition, “The Battery Challenge.” This initiative aims to discover and reward startups worldwide for developing innovative battery technologies and business ideas.
Source：prnewswire.com
