Samsung SDI supplier Hana to enter electrolyte kit market

Hana Technology is preparing to enter the electrolyte production process equipment market next year, the company said.

This will allow it to offer all battery production kit from inspection to production in turn-key, the company said.

Hana Technology was founded in 2000 as Hana ENG. It changed its name to its current one in 2003. 

The company focused on inspection equipment for plasma display panels and liquid crystal display panels in the beginning.

It entered the battery equipment market with its deal with Samsung SDI in 2004 for pouch battery packaging equipment. Hana is still the exclusive supplier of the kits to Samsung.

Hana co-developed an ultra-fast electrolyte injector with Samsung SDI in 2006, which increased its presence in the South Korean battery equipment market.

Hana supplies the kits to LG Chem and SK Innovation as well. It has also supplied the equipment to Murata, previously Sony’s battery business.

Its pouch battery packaging technology was the standard for Samsung SDI, Hana said, and it offers 350ppm speed in its electrolyte injector for cicular batteries.

Hana’s competitors include PNT, CIS, DA Technology, M Plus, Innometry, Xavis, NS and PNE Solution. M Plus is the only company that also offers turn-key battery equipment solutions. NS specializes in electrolyte injector, PNE in formation kit, and Innometry and Xavis in inspection equipment.

Hana is also looking to launch equipment for dead batteries and ultrathin glass production. The company uses heat chamfering technology for the glass. It recently succeeded with Samsung Display in making a 0.05T (1T equals 1mm) glass with a folded radius of 1mm. It is testing 0.03T glass. Hana hopes to secure sales of 50 billion won from this equipment by 2023.

Hana will go public on November. It is issuing 800,000 new shares. It is asking for a price between 31,000 won to 35,000 won. It is hoping to raise between 24.8 billion won to 38 billion won. It will commence a demand forecast from November 9 to 10 to fix the share price. It will list on KOSDAQ on November 25.

10 billion won of the secured funds will be used for its debts and 3.8 billion won for operations. 9.8 billion won will be spend in research and development.