SK On bolsters R&D for next-generation batteries
Prototypes of SK On's sulfide-based all-solid-state battery are on display at the company's exhibition booth for the InterBattery 2023 tech fair at COEX in Seoul in this March 2023 photo. Courtesy of SK On
SK On has been accelerating efforts to enhance its R&D capabilities for next-generation batteries.
SK Group's battery manufacturing division reports that construction of a next-generation battery pilot plant near its R&D center in Daejeon is underway, with completion expected by the second half of this year.
The plant is specifically aimed at advancing R&D for all-solid-state batteries (ASSBs).
ASSB, which uses solid electrolytes as an alternative to liquid electrolytes, is seen as a game changer by industry officials, as it enhances safety by reducing the risk of fire and has a larger energy density, compared to conventional lithium-ion batteries.
SK On seeks to develop two types of ASSBs — polymer-oxide composite and sulfide-based — with commercial prototypes expected by 2027 and 2029, respectively.
“We will continue pushing forward our R&D efforts to drive technological innovations,” an SK On official said. “With our pilot plant for next-generation batteries, combined with our relentless pursuit of R&D advancements and strategic partnerships, we will strengthen our future competitiveness.”
SK On also unveiled its latest achievements in its research on ASSBs.
In collaboration with a research team at the Korea Institute of Ceramic Engineering and Technology, the battery maker studied the use of ultrafast photonic sintering technology to advance the manufacturing process of oxide-rich, inorganic-organic composite hybrid solid electrolytes.
Earlier this year, ACS Energy Letters, a leading academic journal in the energy and chemistry fields, selected this study as its cover article.
A recent cover of Advanced Energy Materials, another journal covering energy-related research, also featured SK On’s collaboration with a research team at Seoul National University to explore the potential use of lithium- and manganese-rich layered oxide (LMRO) cathodes in ASSBs.
Last year, SK On signed an agreement with Solid Power to accelerate the development of ASSBs and to source sulfide-solid electrolytes from the Colorado-based developer of solid-state battery technology.
SK On CEO Lee Seok-hee also stated last month during a meeting with Korea University students that the company will spare no effort in investing in people and research.
Merger
The company finalized a merger with SK Enterm, Saturday, completing a three-way consolidation that also involved SK Trading International, a move expected to create synergies and drive sustainable growth as a global battery and trading company.
The newly consolidated company will continue to operate under the name SK On.
SK On announced the merger plan in July 2024 and completed its integration with SK Trading International in November. Since then, the trading unit has operated under a company-in-company system as SK on trading international. With this latest merger, SK Enterm, the nation's largest commercial tank terminal operator, will now function as part of SK on trading international.
Through the merger, SK On aims to reinforce its core competitiveness in the battery industry by improving raw material sourcing and financial stability. The integration of trading operations is expected to expand business models and enhance profitability through optimized use of storage assets.
The merger is set to significantly enhance SK On’s financial standing. Prior to the merger, SK On reported revenues of 13 trillion won ($8.92 billion) and total assets of 33 trillion won. Following the merger, these figures are projected to increase to 62 trillion won and 40 trillion won, respectively, based on end-2023 data. Additionally, SK On anticipates a boost of approximately 500 billion won in EBITDA through the integration.