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Hansong Neotech, contract deal with Enertech

Shinhwa IT, a secondary battery subsidiary of Hansong Neotech, has successfully signed a long-term supply contract for high-performance secondary battery materials with a global electric vehicle battery manufacturer.

Shinhwa IT has recently signed strategic MOUs with supply negotiations with US 'Solid Energy System', 'Enovix', and 'Zhongxin Guan Menggu (MGL)' of China.

Shinhwa IT announced on the 20th that it has signed a long-term supply contract with Enertech International (Enertech), a global electric vehicle battery manufacturer, to supply an initial supply worth 6.2 billion won. This contract will be supplied as a customized mass production model through Spec-in. The contract period is 3 years.

 Enertech, established in 2001, will commercialize 80% nickel NCM batteries and supply them to American automakers' delivery vans. Enertech recently agreed to supply batteries for 100,000 electric vehicles to Avotor, Russia's largest automaker, and is also pursuing the construction of an additional plant in Russia due to an increase in new orders.

Last year, Enertech was acquired by RENERA LLC, a subsidiary of Russia's state-owned company Rosatom, the world's No. Enertech's Russian plant is adjacent to Europe, so it plans to build a battery supply chain to strengthen its penetration into the global electric vehicle market.

Shinhwa IT recently decided to expand secondary battery material manufacturing plants and production facilities in preparation for an increase in orders from a number of global customers, and aims to complete it by the third quarter of this year. After completion, Shinhwa IT's production capacity for high-performance lead tabs will be expanded five times, enabling it to respond to the high-spec battery market where demand is rapidly increasing.

An official from Hansong Neotech said, “Shinhwa IT is accelerating the expansion of the secondary battery material business by signing strategic alliances with global next-generation battery companies and negotiating supply agreements.” “Through this long-term supply contract with Enertech, Russia It is expected to increase the supply volume in the future as it will prepare a foothold to enter the European and European markets.”

He continued, “In addition, we are discussing technology development with global all-solid-state battery companies, and the demand for high-performance and high-capacity lead taps is expected to surge due to the increase in battery capacity and performance improvement. And we are responding quickly, such as by expanding production facilities.”



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