LG Energy Solution

LG Energy Solution Crosses Halfway Mark in Its Journey to Reach Carbon Neutrality

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月曜日, 7月 31, 2023
KRX, LG Energy Solution, Electricity, Hazardous waste, Recycling, Carbon, TCFD, International Sustainability Standards Board, Electrode, Climate change, Committee, Nickel, Child, NMP, FCA, ESG, Annual report, Cobalt, Task Force on Climate Related Financial Disclosures, ISSB, Cryptocurrency, Renewable energy, Online shopping, Environment

In terms of the company-wide electricity usage, which includes non-manufacturing business sites, 56 percent was delivered from renewable sources.

Key Points: 
  • In terms of the company-wide electricity usage, which includes non-manufacturing business sites, 56 percent was delivered from renewable sources.
  • LGES has been rapidly advancing the transition to renewable energy, supplying 33 percent of its electricity use from renewable sources in 2020 and 44 percent in 2021.
  • Previously, LGES has set a phased roadmap to successfully complete the mid-to long-term initiative to realize carbon neutrality.
  • "LG Energy Solution will continue to relentlessly innovate ourselves in order to contribute to the global carbon neutrality and the future of mankind," said Youngsoo Kwon, CEO of LG Energy Solution.

LG Energy Solution Records Steady Gains in 2Q, Increases Revenue Guidance for 2023

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木曜日, 7月 27, 2023
Lithium, KRX, KRW, ASP, EV, Chevrolet, LG Energy Solution, Hyundai Motor Company, Lithium iron phosphate, Lithium iron phosphate battery, Recycling, LFP, IRA, JV, Projection, ESS, GM, CFO, Growth, Research, Fireworks, Fine chemical, Renewable energy, Video game

LGES posted consolidated revenue of KRW 8.774 trillion for 2Q, marking a 0.3 percent increase from its highest quarterly record reported in the first quarter, and a 73 percent increase year-on-year.

Key Points: 
  • LGES posted consolidated revenue of KRW 8.774 trillion for 2Q, marking a 0.3 percent increase from its highest quarterly record reported in the first quarter, and a 73 percent increase year-on-year.
  • "Increased shipments to North America thanks to its robust EV market led the revenue growth this quarter," explained Chang Sil Lee, CFO of LG Energy Solution, "even if demands in Europe relatively declined, and the average selling price (ASP) decreased due to falling metal prices."
  • The company's second quarter operating profit recorded at KRW 461 billion, a 27 percent decrease quarter-on-quarter and a 136 percent increase year-on-year.
  • This was due to one-off provisioning of KRW 151 billion caused by inflated costs of material expenses for the ongoing Chevrolet Bolt EV recall process.

Electra Enhances Terms of Cobalt Supply Agreement with LG Energy Solution

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月曜日, 7月 24, 2023
EV, Electric Vehicles, Automotive, Technology, Mining, Minerals, Batteries, Natural Resources, Green Technology, Alternative Vehicles, Fuels, Alternative Energy, Environment, Energy, KRX, Graphite, Manganese, Three Fires, LG Energy Solution, Intelligence, Public policy, Research, CRU, Government, Fire, Investment, Nickel, Ecosystem, Cobalt, Lithium, Rare-earth element

Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra”) today announced that its battery grade cobalt supply agreement with LG Energy Solution (LGES; KRX: 373220), a leading global manufacturer of lithium-ion batteries, has been extended and expanded from terms initially announced in September 2022.

Key Points: 
  • Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra”) today announced that its battery grade cobalt supply agreement with LG Energy Solution (LGES; KRX: 373220), a leading global manufacturer of lithium-ion batteries, has been extended and expanded from terms initially announced in September 2022.
  • Electra will now supply LG Energy Solution with 19,000 tonnes of battery grade cobalt over a five-year period beginning in 2025.
  • Under the updated terms, Electra will supply LG Energy Solution with 3,000 tonnes of cobalt contained in a cobalt sulfate product in 2025 and a further 4,000 tonnes in each of the following years through 2029 for a total of 19,000 tonnes under an agreed pricing mechanism.
  • Consistent with the original terms of the supply agreement, Electra and LG Energy Solution will also cooperate and explore ways to advance opportunities across North America’s EV supply chain, including, but not limited to, securing of sustainable sources of raw materials.

Start-Up Nuvola Technology Eliminates Primary Cause of Lithium-Ion Battery Fires

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水曜日, 7月 19, 2023
Alternative Energy, Energy, Automotive, Technology, Automotive Manufacturing, General Automotive, Manufacturing, Other Technology, EV, Failure, LG Energy Solution, Fire, Automotive industry, Cell, EVS, Nuvola, Electrode, DDS, Research, Safety, Electric battery

The primary cause of battery fires is a manufacturing error internal to the battery cells of today's electric vehicles (EVs), e-scooters, e-bikes, and cell phones. These batteries can contain thousands of tissue-paper thin folded sheets of a porous plastic membrane that keeps the internal battery electrodes from coming in contact. This 50-year-old sheet separator technology is prone to manufacturing assembly errors and failure. During the battery assembly process, a single sheet separator can become damaged, creating an undetectable wrinkle, misalignment, misfolding, or even a tiny tear allowing the electrodes to come in contact. This may cause a fire -- days, months, or years later. SafeCoat solves this safety issue by replacing the sheet separator with a sprayed polymer electrode coating that ensures the electrodes never come into contact.

Key Points: 
  • Nuvola Technology (formerly Millibatt), a venture-funded battery materials start-up, announces its patented SafeCoat Direct Deposition Separator (DDS)™ material that eliminates the primary cause of lithium-ion battery fires.
  • Nuvola was selected as one of ten winners in LG Energy Solution's annual 2022 Battery Challenge, competing with over 100 companies.
  • The primary cause of battery fires is a manufacturing error internal to the battery cells of today's electric vehicles (EVs), e-scooters, e-bikes, and cell phones.
  • The Nuvola SafeCoat product is now under evaluation by several major battery and car manufacturers, with products utilizing the technology expected in the market in 2025.

2023 Dangerous Goods Symposium to Examine Hazmat Shipping Issues

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火曜日, 7月 18, 2023
Automotive, Other Manufacturing, Consumer Electronics, Technology, Packaging, Delivery Services, Chemicals, Plastics, Automotive Manufacturing, Logistics, Supply Chain Management, Manufacturing, Retail, Trucking, Batteries, Rail, Air, Transport, Software, EV, Electric Vehicles, Hardware, Lithium, IATA, USPIS, LG Energy Solution, International Air Transport Association, United States Postal Inspection Service, Risk, PHMSA, Pipeline and Hazardous Materials Safety Administration, UPS, Pipeline, General Motors, Online shopping, DG

Labelmaster , the leading provider of products, services and technology for the safe and compliant transport of dangerous goods (DG) and hazardous materials (hazmat), today announced the key session topics for its 18th annual Dangerous Goods Symposium , in Chicago, September 6-7, 2023.

Key Points: 
  • Labelmaster , the leading provider of products, services and technology for the safe and compliant transport of dangerous goods (DG) and hazardous materials (hazmat), today announced the key session topics for its 18th annual Dangerous Goods Symposium , in Chicago, September 6-7, 2023.
  • E-commerce: The rise of e-commerce has brought with it many compliance challenges for businesses shipping DG.
  • This panel of retailers, carriers and logistics providers will examine the challenges and best practices for safely and compliantly shipping goods in today’s online retail environment.
  • “Shipping dangerous goods – from perfumes and cleaning solutions to medical devices and EV batteries – has become increasingly challenging due to complex regulations and ongoing supply chain issues,” said Robert Finn, vice president, Labelmaster.

Former LG and GM Executive Denise Gray Joins Liminal as Strategic Advisor

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月曜日, 7月 10, 2023
Automotive, Technology, EV, Electric Vehicles, Batteries, Alternative Energy, Energy, Lithium, U.S. Department of Energy, Office of Inspector General, U.S. Department of Defense Strategy for Operating in Cyberspace, Engineering, National Academy of Engineering, LG Energy Solution, Intelligence, Multimedia, Grey, American Head, DOE, Government, Chevrolet Volt, National academy, Chevrolet, GM, Temple University, Foreign policy, Transport, Renewable energy, Empowerment, Liminal

Liminal , a leading battery manufacturing intelligence company on a mission to propel the global adoption of electric vehicles, announced today that it has brought on Denise Gray as a strategic advisor.

Key Points: 
  • Liminal , a leading battery manufacturing intelligence company on a mission to propel the global adoption of electric vehicles, announced today that it has brought on Denise Gray as a strategic advisor.
  • View the full release here: https://www.businesswire.com/news/home/20230710288859/en/
    Gray is a well-known and respected executive in the automotive industry, with four decades of unparalleled experience.
  • Among her many career achievements, Gray is best known for running the battery program for the Chevy Volt during her 30-year tenure at GM.
  • “Advanced battery analytics are increasingly critical as the industry continues to scale and the demands on battery performance soar.

Unifor welcomes agreement to resume Windsor battery plant construction

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水曜日, 7月 5, 2023
Unifor National Council 4000, Brampton, LG Energy Solution, Policy, Federation, Road, EV, Unifor, Rare-earth element, Renewable energy, Stellantis

WINDSOR, ON, July 5, 2023 /CNW/ - Stellantis and the federal and Ontario governments have reached an agreement that will see construction of the Windsor EV battery plant resume, preserving current and future jobs in Canada's auto manufacturing sector.

Key Points: 
  • WINDSOR, ON, July 5, 2023 /CNW/ - Stellantis and the federal and Ontario governments have reached an agreement that will see construction of the Windsor EV battery plant resume, preserving current and future jobs in Canada's auto manufacturing sector.
  • The five-billion-dollar lithium-ion battery plant, a joint venture of Stellantis and LG Energy Solution, was first announced in March 2022 .
  • Construction at the future plant was halted on May 15, 2023, after Stellantis claimed the federal government had not met its financial commitment and that the company was implementing contingency plans for battery production.
  • "We look forward to having this battery plant built in Windsor and to seeing the commitments made to our members in Windsor and Brampton materialized."

The NRP Group Expands National Footprint Westward with Phoenix and Las Vegas Hires

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水曜日, 6月 28, 2023
Building Systems, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Urban Planning, Banner Health, Mayo Clinic, Housing, NRP, LG Energy Solution, Women's Basketball Development Association, Multimedia, Azar Motor Industrial Co, Industry of Romania, Development, Economic development, Intel, TSMC, Population growth, Hotel, Video game, Phoenix

The NRP Group , a vertically integrated, best-in-class developer, builder and manager of multifamily housing, today announced the hires of Austin Kates as Vice President of Development in Phoenix and Mike Moriarty as Vice President of Development in Las Vegas.

Key Points: 
  • The NRP Group , a vertically integrated, best-in-class developer, builder and manager of multifamily housing, today announced the hires of Austin Kates as Vice President of Development in Phoenix and Mike Moriarty as Vice President of Development in Las Vegas.
  • View the full release here: https://www.businesswire.com/news/home/20230628137024/en/
    From left to right: Austin Kates, Vice President of Development in Phoenix; Mike Moriarty, Vice President of Development in Las Vegas.
  • (Photo: Business Wire)
    “Welcoming Austin and Mike to the team is the start of an exciting new chapter for NRP,” O’Neill said.
  • “The Phoenix and Las Vegas markets are among the fastest growing in the nation, and the need for our caliber of rental communities is mounting.

Battery Energy Storage Market worth $17.5 billion by 2028 - Exclusive Report by MarketsandMarkets™

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月曜日, 6月 26, 2023
Lithium, Urbanization, SAMSUNG, Panasonic, Tag, Panel, LG Energy Solution, BYD Company, COVID-19, Electricity, Smartphone, Lithium nickel manganese cobalt oxides, Lithium cobalt oxide, Lithium iron phosphate, Software, Centralisation, LFP, LCD, Product type, LED, Climate change, LCO, MicroLED, OLED, USB On-The-Go, Form, Interactive kiosk, Growth, Passive, Region, Consumer electronics, Television, Electric battery, Renewable energy, Vertical, Modularity, Capacity, Frequency, Application, Geography

Battery element segment is expected to account for the largest share of the battery energy storage system market during the forecast period.

Key Points: 
  • Battery element segment is expected to account for the largest share of the battery energy storage system market during the forecast period.
  • The battery energy storage system constitutes components such as a battery, battery management system, energy management system, monitoring and control system, and power conversion system.
  • The battery elements used in the battery energy storage system are in the form of modules and racks.
  • The battery element alone constitutes 60% of the total battery energy storage system.

Battery Energy Storage Market worth $17.5 billion by 2028 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
月曜日, 6月 26, 2023
Lithium, Urbanization, SAMSUNG, Panasonic, Tag, Panel, LG Energy Solution, BYD Company, COVID-19, Electricity, Smartphone, Lithium nickel manganese cobalt oxides, Lithium cobalt oxide, Lithium iron phosphate, Software, Centralisation, LFP, LCD, Product type, LED, Climate change, LCO, MicroLED, OLED, USB On-The-Go, Form, Interactive kiosk, Growth, Passive, Region, Consumer electronics, Television, Electric battery, Renewable energy, Vertical, Modularity, Capacity, Frequency, Application, Geography

Battery element segment is expected to account for the largest share of the battery energy storage system market during the forecast period.

Key Points: 
  • Battery element segment is expected to account for the largest share of the battery energy storage system market during the forecast period.
  • The battery energy storage system constitutes components such as a battery, battery management system, energy management system, monitoring and control system, and power conversion system.
  • The battery elements used in the battery energy storage system are in the form of modules and racks.
  • The battery element alone constitutes 60% of the total battery energy storage system.