SK On Signs Deal With Westwater Resources to Develop Anode Materials for Batteries

South Korea's SK On, a leading electric vehicle (EV) battery manufacturer, has signed a joint development agreement (JDA) with US graphite company Westwater Resources Inc. as part of efforts to strengthen its battery raw material supply chain in North America. Under the agreement, the two companies will work together to develop environmentally responsible, high-performance anode materials tailored for SK On batteries.

SK On currently operates two EV battery plants in Commerce, Georgia.

The battery maker is also building three EV battery plants in the US with Ford Motor Co. 

Westwater Resources is focused on developing US-based battery-grade natural graphite anode materials.

Headquartered in Centennial, Colorado, the company is currently building a graphite processing plant in Kellyton, Alabama.

The first phase of plant construction will produce 7,500 metric tons of refined graphite each year.

Sun Heeyoung, SK On Vice President in charge of advanced research, says: "SK On has been pursuing strategic partnerships to secure high-quality battery raw materials to support our growing U.S. manufacturing base. With this agreement, we will continue to look for options that can strengthen our materials supply chain in North America and ensure we can help meet the increasing demand for electric vehicles in the U.S."

"The JDA with SK On is another major advancement in Westwater's graphite business, and we are extremely excited to partner with a leading global battery manufacturer," addsTerence Cryan, Westwater's Executive Chairman. "Following the passage of the Inflation Reduction Act, many battery manufacturers have sought to secure North American anode material from our Kellyton plant."

SK On was launched as an independent company in October 2021 after SK Innovation, South Korea's largest energy company, decided to split off its battery business unit.