Youil Energy Tech has succeeded in winning a customer to supply prismatic battery production equipment, the company’s CEO said.
The firm has completed development of roll-to-roll notching equipment and will be supplying them to a global top-tier customer’s production line within the year, CEO Jeong Yeon Gil said.
Youil Energy Tech was also developing wide width high-speed notching equipment and stacking equipment, the CEO said. It was also developing battery notching equipment for small batteries, he said.
The company had previously only made roll-to-sheet notching equipment used to stack the cathode and anode tabs into ‘magazines’. However, prismatic battery makers use roll-to-roll method __ they roll materials into a jelly roll before putting them in a can to complete the prismatic battery.
Notching equipment is used to make the cathode and anode tabs on battery materials. Stacking, tab welding and degassing steps follow afterward.
A person familiar with the matter said Youil Energy Tech has already won Samsung SDI, which mainly produces prismatic batteries, as a new customer. The company will likely aim to win Chinese customers and Northvolt afterwards, the person said.
Youil Energy Tech was also developing an in-line equipment, which combines notching and stacking steps into one step. The equipment allows for easier automation and less workers at production lines.
The company posted 46.9 billion won in sales in 2019, over double that of its sales of 17.4 billion won in 2018. In 2020, as of the third quarter, the company posted 45.1 billion won in sales.
The firm is aiming to list on KOSDAQ in February. It is asking for a share price between 11,000 won to 14,000 won per share. It is offering 2.41 million shares. It is hoping for a funding of around 30 billion won.