Ecopro

Ecopro Co., Ltd. operates as a holding company with a strategic focus on the production of essential materials for the electric vehicle (EV) battery market. Founded in 1998 by Lee Dong-chae as Korea Zeoleum, the company initially focused on developing eco-friendly materials to address air pollution, inspired by the Kyoto Protocol. The company changed its name to Ecopro in 2001 and ventured into the battery materials sector in 2004, beginning the development of cathode active materials.

Lee Dong-chae, a certified public accountant with prior experience at Samsung Electronics and Korea Housing Bank, established the company with a vision of becoming a major business leader. His journey into the battery materials business began in earnest in 2004 through a partnership with Cheil Industries to develop precursors, a key raw material for cathodes. This pivot became a core focus when Ecopro acquired Cheil Industries' cathode materials business. The company was listed on the KOSDAQ stock exchange in 2007. Over the years, Ecopro has expanded significantly, establishing a holding company structure in 2016 by spinning off its cathode materials business into Ecopro BM and its environmental division into Ecopro HN in 2021.

The company's primary business revolves around its "Closed Loop Eco-System," which vertically integrates the entire battery material production process. This system includes recycling used batteries (Ecopro CnG), producing precursors and other raw materials (Ecopro Materials), refining lithium hydroxide (Ecopro Innovation), and manufacturing the final cathode active materials (Ecopro BM). This business model provides a stable supply chain and pricing power in the market. The main clients for its battery materials are EV battery manufacturers and automotive OEMs. Ecopro also maintains its original environmental business through Ecopro HN, which provides solutions for air pollution control, including greenhouse gas reduction systems and chemical filters.

Ecopro's key products are high-nickel cathode materials, which are critical for determining the capacity and lifespan of lithium-ion batteries used in electric vehicles and energy storage systems (ESS). Specifically, its subsidiary Ecopro BM is a major producer of high-nickel (NCA) and core-shell gradient (CSG) cathode materials. The company is actively developing next-generation materials, including LFP (lithium iron phosphate) cathodes, sodium-ion battery materials, and solid electrolytes for all-solid-state batteries, to meet evolving market demands. To support its global ambitions, Ecopro is expanding its production footprint with facilities in Hungary, Canada, and Indonesia.

Keywords: cathode materials, battery materials, electric vehicle batteries, lithium-ion, precursor cathode active material, high-nickel cathode, vertical integration, battery recycling, energy storage systems, Lee Dong-chae, Ecopro BM, EV supply chain, lithium hydroxide, battery value chain, South Korea, KOSDAQ, eco-friendly materials, air pollution control, energy innovation, cathode recycling