ECOPRO BM

ECOPRO BM is a South Korean manufacturer specializing in cathode active materials for lithium-ion batteries. The company was established in May 2016 as a spin-off from its parent company, ECOPRO, to focus specifically on the secondary battery materials sector. ECOPRO itself was founded in 1998 by Lee Dong-che, an accountant who, inspired by an article on the Kyoto Protocol, ventured into environmental materials and technologies. After years of challenges, the company entered the battery materials market in 2004 by participating in a government-led project.

The company's core business revolves around the development and mass production of high-nickel cathode materials, including Nickel-Cobalt-Manganese (NCM) and Nickel-Cobalt-Aluminum (NCA). It was the first in Korea to successfully mass-produce high-nickel cathodes. These materials are critical components that determine the capacity and lifespan of batteries used in electric vehicles (EVs), energy storage systems (ESS), and power tools. The business model is centered on supplying these advanced cathode materials to major global battery manufacturers like Samsung SDI, LG Energy Solution, and SK On. For example, the company secured a significant multi-year contract with Samsung SDI in 2023, valued at approximately $34 billion, to supply NCA cathode materials from 2024 to 2028. It also has a major supply agreement with SK Innovation.

ECOPRO BM operates an integrated production system, from precursors, which are intermediate materials that define the final product's quality, to the finished cathode materials. The company is expanding its product line to include more cost-effective options like high-voltage mid-nickel, LFP, and sodium-ion battery materials to meet diverse market demands. To secure its supply chain and global presence, ECOPRO BM has established a vertical integration strategy through its parent and sister companies, covering recycling, precursor production, and industrial gases. It is actively expanding its manufacturing footprint with large-scale facilities in Korea and new plants under construction in Hungary and Canada to serve the European and North American markets.

Keywords: cathode active materials, high-nickel cathodes, lithium-ion batteries, NCM, NCA, electric vehicles, energy storage systems, battery materials, precursors, secondary batteries, battery supply chain, Samsung SDI, SK On, LFP, sodium-ion batteries, battery recycling, EcoPro, South Korea, battery components, EV batteries