LG Energy Solution Partners with U.S. Startup Sion Power to Advance Lithium Metal Battery Technology
LG Energy Solution, a global leader in advanced lithium-ion batteries, has recently invested in Sion Power, a startup based in Arizona, USA, specializing in lithium metal battery technology. Unlike conventional lithium-ion batteries that use graphite or silicon anodes, lithium metal batteries employ a lithium metal anode for enhanced energy efficiency. However, the development of lithium metal batteries has faced challenges, such as dendrite formation, which negatively impacts battery life and stability.
Sion Power, established in 1994, possesses a robust patent portfolio, totaling 470 patents, including innovative technologies to mitigate dendrite formation. LG Energy Solution’s equity investment in Sion Power, facilitated through LG Technology Ventures (LGTV) and Bricks Capital Management (BCM), is a strategic move to pioneer next-generation battery technologies.
“This investment aims to strengthen our leadership in advancing next-generation technologies within the battery industry. We seek to enhance competitiveness and create new value by continually investing in emerging technologies and business areas.”
A spokesperson from LG Energy Solution emphasized the strategic significance of the investment, stating.
LG Energy Solution, as an industry leader, collaborates with various partners to address challenges and accelerate battery technology development. Investing in startups with high potential, such as Sion Power, is part of the company’s broader strategy. LG Energy Solution also hosts “The Battery Challenge,” a biennial startup competition to recognize and reward global startups developing innovative battery technologies and business concepts.
About LG Energy Solution:
LG Energy Solution, a spin-off from LG Chem, is a prominent global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems (stock symbol: KRX: 373220). With 30 years of experience in battery technology and over 25,000 patents, the company has established a strong global network, collaborating with major automakers like General Motors, Stellantis N.V., Hyundai Motor Group, and Honda Motor Co., Ltd. Committed to green business and sustainability, LG Energy Solution aims for carbon-neutral operations by 2050 while promoting shared growth and fostering a diverse and inclusive corporate culture.
