Hanwha Momentum has won an equipment deal likely worth over 100 billion won from Sweden’s Northvolt for use in commercial battery production, TheElec has learned.
The Korean equipment maker had attempted to win orders for electrode equipment from the battery maker in the past.
But it had always lost to Japan’s Hirano Tecseed and South Korea’s CIS in the past.
But Hanwha first won a deal from Northvolt late last year for their pilot line.
Hanwha had begun its battery equipment business with formation and logistics kit.
But it diversified its portfolio under the order of Hanwha vice chairman Kim Dong-kwan to add kiln and electrode kits that are more profitable.
Hanwha succeeded in supplying kilns to battery cathode maker EcoPro BM since then.
For electrode equipment, before winning the deal from Northvolt, it primarily supplied them to Samsung SDI.
Hanwha is expected to aim to supply them to LG Energy Solution as well.
Hanwha and LG are planning to co-invest in the US for their energy storage system battery production line.