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SK Innovation Considers Ditching US Battery Plants (Ind. Report)
SK Innovation
Date: 2021-03-29
South Korean battery maker SK Innovation reports it is considering pulling the plug on its $2.7 billion electric vehicle battery manufacturing plant and halting construction of a second battery manufacturing plant in Commerce City, Georgia, as well as other U.S. operations. Combined, the two facilities would have a combined production capacity of 20 gigawatt-hours a year, enough for 250,000 electric vehicles and create 2,600 jobs.

The company's position is in response the US International Trade Commission's February finding that SK had "misappropriated" 22 trade secrets from its rival LG Chem. The two firms have as yet been unable to come to a mutually agreeable compensation settlement for SK's "misappropriation.

The ITC, while slapping the firm with a 10-year business ban, has allowed SK Innovation a grace period of up to four years for it to continue supplying Volkswagen and Ford. (Source: SK Innovation, Korea Herald, 28 Mar., 2021) Contact: SK innovation, www.eng.skinnovation.com

More Low-Carbon Energy News SK Innovation,  Battery,  LG Chem,  


SK Touts $1.6Bn Investment to Advance Hydrogen Strategy (Int'l.)
SK Group
Date: 2021-03-01
In Seoul, South Korean largest energy provider SK Group is reporting a $1.6 billion investment and strategic partnership with Latham, New York-headquartered hydrogen fuel cell specialist Plug Power Inc. to provide hydrogen fuel cell systems, hydrogen fueling stations and electrolyzers to Korean and other Asian markets.

Additionally SK Holdings, the holding company of SK Group, has established a Hydrogen Business Development Center comprised of members from SK's energy companies, including SK Innovation and SK E&S. The new Business Development Center will guide the companies' transition into the production and distribution of hydrogen energy, including the creation of a mass production facility and investments in global business opportunities. SK Group companies already are making strategic investments in their existing energy businesses and forming partnerships with global leaders in hydrogen energy technology. (Source: Sk Holdings, SK Group, PR, 27 Feb., 2021) Contact: Plug Power, Andy Marsh, CEO, 518-782-7700, www.plugpower.com; SK Group, www.skgroupinc.com

More Low-Carbon Energy News SK Group,  Plug Power,  Hydrogen,  

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