Photograph) Employees of LS Materials manufacturing capacitors at the factory in Gunpo, Gyeonggi-do.

 

 

■ LS C&S expanding its eco-friendly energy materials and parts business
■ Focusing on ultracapacitor (UC) and new aluminum materials businesses
■ Electric vehicle charging station ESS and electric vehicle/hydrogen fuel cell parts serving as new growth engine
■ Rapid growth with sales and operating profits in 2022 -increased by 28% and 73% respectively compared to previous year

 

 

LS C&S announced on April 3 that it will list its subsidiary LS Materials on the stock market as it begins full-scale development of the company into a ‘company specializing in eco-friendly materials and parts.’

 

LS Materials concluded underwriting agreements with KB Securities and Kiwoom Securities on April 3. The company will file for a preliminary review by June and push forward with listing the company on the KOSDAQ within the year. This would be the second company listed by LS C&S after LS C&S Asia.

 

LS Materials is the world’s top manufacturer of large ultracapacitors (UC), which are also referred to as ‘next-gen secondary batteries.’

 

An LS C&S spokesperson stated, “LS Materials is our first subsidiary in the business fields of renewable energy and electric vehicles to be listed, and it will lead the relevant projects of LS C&S in the future,” and added, “We are planning to concentrate our investments on and nurture efforts for future new growth engines.”

 

UCs offers the advantage of high-speed charging/discharging and a long lifespan. They are used to replace and supplement primary batteries and lithium-ion batteries (LIB). They are generally used in wind power generator turbines, uninterruptible power supplies (UPS) at semiconductor factories, factory automation, and automated guide vehicles (AGV).

 

LS Materials started its R&D under LS C&S in 2002 and has been supplying products to over 500 companies around the world for the past 20 years. The company has a subsidiary, LS Alsco, which specializes in new aluminum materials. LS Alsco is currently the only company in Korea to have an international alloy designation.

 

CEO of LS Materials Yeong-ho Hong stated, “We think that UCs will expand rapidly across various fields of application since they can overcome the disadvantages of existing secondary batteries, and we are also observing a surge in aluminum demand surrounding the electric vehicle industry.” He continued, “We will set out to create new opportunities with the three new growth engines of electric vehicle charging station ESSs, aluminum parts for electric vehicles and hydrogen fuel cells.”

 

LS Materials recorded KRW 162 billion in consolidated sales and KRW 14.5 billion in operating profits last year. These figures were approximately 28% and 73% increases, respectively, compared to the previous year and are due to an increase in exports to North America along with other factors. 

 

LS C&S’s subsidiaries LS EV Korea and LS EVC supply key electric vehicle parts such as electric vehicle harnesses and motor coils. The company expects LS Materials to generate synergy with LS C&S and other subsidiaries under LS Group for the company’s new businesses in offshore wind power and electric vehicles