OCI and POSCO Chemical will expand the pitch business, which is a core material for anode materials for secondary batteries.
OCI announced on the 26th that P&O Chemical, a joint venture with POSCO Chemical, would produce high softening point pitch, a core material for anode materials for secondary batteries.
P&O Chemical is a joint venture established last year by OCI and POSCO Chemical with a 49:51 stake. In January, it started construction of a hydrogen peroxide plant with a total production capacity of 50,000 tons, including 30,000 tons of electronic grade used in high-tech industries such as semiconductors and displays.
The total investment cost of this project is 74.5 billion won. P&O Chemical aims to produce 15,000 tons of high softening point pitch per year in 2024. P&O Chemical plans to strengthen its competitiveness in the high value-added material market such as secondary batteries as it is expanding the pitch business, which is the core material of the anode material.
The high softening point pitch improves secondary battery charging and discharging efficiency, and is used for coating graphite-based anode materials to increase the battery life as well as improve the charge density. With the rapid growth of the battery market, the demand for pitch, an essential subsidiary material for the production of anode materials, is expected to continue to increase.
The commercialization is significant in that it achieves self-reliance of domestic secondary battery anode materials while localizing the high softening point pitch, which was entirely dependent on imports. OCI expected to expand its business from the production of liquid pitch using existing steel by-products to the production of pitch with high softening point, a material for anode material for secondary batteries with this project.
OCI was the first to succeed in commercializing liquid pitch in 1996. It is the world’s largest producer of liquid pitch, and exports to prominent overseas aluminum companies such as the Middle East, Australia, and North America.
OCI President Taek-joong Kim said, “This pitch project is the result of trust and cooperation that OCI and POSCO Group have built up following the previous high-purity hydrogen peroxide joint project. P&O Chemical will lead the high value-added material market in the future.”
By Staff Reporter Sang-geun Byun (sgbyun@etnews.com)