Pino Signs 5.4 Billion KRW Precursor Contract with L&F... "Full-Scale Supply to Start in 2025"
Secondary battery material company Pino announced on the 9th that it has signed its first nickel-cobalt-manganese (NCM) precursor supply contract with Korea's leading cathode material manufacturer L&F, set for 2025.
The supply contract with L&F is for 380 tons of precursor, valued at approximately 5.4 billion KRW. Since the fourth quarter of last year, the cumulative order amount for precursors, a key cathode material, has reached about 16.4 billion KRW.
The two companies signed a memorandum of understanding (MOU) for precursor supply in September last year. Following the MOU, they concluded a total of four supply contracts worth around 11 billion KRW in the fourth quarter alone. They plan to supply approximately 60,000 tons of precursor by 2028.
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A Pino representative stated, "Starting with this precursor supply contract with L&F, we expect the secondary battery material business to grow significantly this year. Based on our high-quality competitiveness and stable supply capability, we will continuously expand our customer base and leap forward as a leading company in the secondary battery material sector."
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