“We are willing to offer our patent portfolio to battery materials providers worldwide through various types of intellectual property business models.” LG Chem’s high-nickel cathode materials patent plays a determinant role in the performance of lithium-ion batteries and is undoubtedly necessary for the advancement of the high-performance EV industry. By doing so, the company expects to generate new sources of profits as the demand for technology to produce key battery materials, such as high-nickel cathode, is expected to rise.Īccording to SNE Research, a global marketing research firm, the global cathode materials market is forecasted to grow 233% from $35.6 billion this year to $82.9 billion in 2030. With this licensing, LG Chem expects to promote the development of the battery material industry with other global cathode material suppliers. These patents are widely recognized in the relevant industry as essential to produce high-nickel cathode materials and registered in many countries, including Korea, China, U.S., and Europe. In March 2022, LG Chem, the world’s first producer of nickel-cobalt-manganese (NCM) cathode materials, purchased more than 40 patents relating to high-nickel cathode material from Hanyang University, a private research university in Korea.Īmong them is a key ‘orientation patent’ that allows the driving range of EVs to increase by 20 to 30 percent, based on the structural characteristic of cathode materials. High-nickel cathodes are essential materials for high-performance EVs as they play a crucial role in increasing the energy density of batteries to extend the driving range. The licensing offers were made to companies that mainly operate in the manufacture of high-nickel cathode materials.
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