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Energy 11, a battery producer, to establish a KRW 100 bln worth of production facility in the city of Iksan
Energy 11 Co., Ltd, a battery technology specialist, rolled out its KRW 100 billion worth investment plan to build a production plant in the city of Iksan, North Jeolla Province. What’s behind the deal came from future business outlook for the global storage battery market, expected to go up 17 fold in the year 2030.
Under the KRW 100 billion investment pact, they establish a manufacturing facility on a 247,563㎡ site near the Iksan Hanyeol agro-industry cluster to produce rechargeable batteries and energy storage system, capitalizing on the fuel cell technology.
The sodium-ion batteries are known as the storage mechanism with longer life-span, almost twice as long as the capacity of the conventional lithium batteries and more affordable prices, only a half. Plus, the new technology is relatively free from safety concerns than the old ones susceptible to catching fire and exploding when overcharged.
The governor at the ceremony said “Hoe that the deal can help Energy 11 take a grand leap forward to a global leader in the sodium-ion batteries market in the coming decades.”, making a pledge of strong support.
sollenso@yna.co.kr
** This article was translated from Korean.
Date
2020.06.19
Views
472
According to Yonhap News,
Energy 11 Co., Ltd, a battery technology specialist, rolled out its KRW 100 billion worth investment plan to build a production plant in the city of Iksan, North Jeolla Province. What’s behind the deal came from future business outlook for the global storage battery market, expected to go up 17 fold in the year 2030.
Under the KRW 100 billion investment pact, they establish a manufacturing facility on a 247,563㎡ site near the Iksan Hanyeol agro-industry cluster to produce rechargeable batteries and energy storage system, capitalizing on the fuel cell technology.
The sodium-ion batteries are known as the storage mechanism with longer life-span, almost twice as long as the capacity of the conventional lithium batteries and more affordable prices, only a half. Plus, the new technology is relatively free from safety concerns than the old ones susceptible to catching fire and exploding when overcharged.
The governor at the ceremony said “Hoe that the deal can help Energy 11 take a grand leap forward to a global leader in the sodium-ion batteries market in the coming decades.”, making a pledge of strong support.
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sollenso@yna.co.kr
Source: Yonhap News (Jun. 5 , 2020)
** This article was translated from Korean.