BOBAEK C&S
Provides construction and engineering services, specializing in civil and structural engineering projects.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
* | KRW35.0b | Growth Equity non VC | |
| Total Funding | 000k | ||
Established in 2009 by CEO Seo Dong Jo, BOBAEK C&S has evolved from its initial focus on IT material technology to a significant manufacturer in the eco-friendly vehicle sector. The company is headquartered in Gumi, South Korea, and specializes in producing components for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
BOBAEK C&S manufactures critical safety components for secondary batteries, including insulation materials designed to prevent electric leakage and reduce explosion risks in electric vehicle batteries. Their product lineup includes insulating materials that protect individual battery cells and the entire battery pack periphery. The company's offerings consist of various films, tapes, and fabrics tailored for automotive and electronics applications.
The company serves major clients in the automotive and electronics industries, including LG Electronics, LG Energy Solution, LG Chem, Hyundai Motor, SK Innovation, and Samsung SDI. To meet global customer demand, BOBAEK C&S has expanded its operations internationally, establishing local subsidiaries in Poland, the Czech Republic, Indonesia, and Canada. This global footprint allows them to directly supply key automotive and battery manufacturers in Europe, Southeast Asia, and North America.
In a significant move to enter the North American market, the company, under the name Bobaek America Inc., invested $35 million in a new manufacturing facility in Windsor, Ontario. This project, supported by a $1.5 million grant from the Southwestern Ontario Development Fund, is expected to create 144 jobs and will produce insulation panels and cell sheets for EV batteries. The first phase of the Windsor facility was slated for completion in 2024, with a second phase approved for 2025, aiming to supply the entire North American market. The company has also secured significant venture capital, raising $39 million in a Series A round in March 2023 from investors including AJU IB Investment, BSK Investment, and Kiwoom Investment.
Keywords: EV battery components, secondary battery materials, automotive insulation, electric vehicle safety, battery insulation panels, cell sheets, electronic components manufacturing, BEV parts, PHEV components, automotive supply chain, battery explosion prevention, LG Energy Solution supplier, Samsung SDI supplier, Hyundai Motor partner, clean energy technology, advanced manufacturing