Ecopro is moving ahead with a new business to manage the entire battery lifecycle in an integrated way. It plans to expand into renewable energy as well, based on more advanced recycling technology. Ecopro on March 26 held its 28th annual general meeting of shareholders at its headquarters in Ochang, North Chungcheong Province, and presented three management goals that include this new-business vision to shareholders.

The three goals are securing a technology gap, optimising its global value chain and improving management efficiency. At the meeting, Ecopro approved an agenda item to amend its articles of incorporation to add renewable energy and other businesses to its corporate purpose. It aims to secure economic viability through recycling technology, a key strength of ternary batteries, and link it to its renewable energy business.

Ternary batteries can recover more than 90 percent of key minerals such as nickel, cobalt and manganese through recycling. That is why discarded ternary batteries are being re-examined as an "urban mine." In technology leadership, the company will maintain its leading position in high-nickel materials while strengthening next-generation materials technology, including all-solid-state and sodium-ion batteries.

Ecopro CEO Song Ho-joon (송호준) said, "We will not only firmly maintain our leading position in the high-nickel field, but also strengthen our technology capabilities for next-generation materials such as all-solid-state and sodium-ion batteries and bring forward commercialisation."

To optimise its global value chain, it will expand investment this year in an Indonesian nickel smelter. Following last year’s IMIP project, it will lead the second-phase IGIP project to strengthen the value chain from mineral refining to cathode materials. It also plans to improve the price competitiveness of cathode materials produced in Hungary and Pohang. Song said, "By maximising production efficiency at the Hungary plant completed last year, we will respond proactively to regional regulations and establish ourselves as the clear No. 1 company in the European market."

Amid an outlook for a slowdown in the secondary battery market, it will also push management efficiency measures. It plans to build a sustainable management system by consolidating overlapping work among affiliates. The meeting approved major agenda items including approval of financial statements, partial amendments to the articles of incorporation, director appointments, appointment of an outside director who will serve on the audit committee, establishment of rules on registered directors’ compensation, and revisions to the executive retirement pay rules.