Nsys will aim to supply electrode equipment to LG Energy Solution’s third factory at its battery plant in Poland this year, the company said on Tuesday.
The company was also considering setting up a subsidiary in Poland, if it succeeds in winning the new orders from LG, it said.
Nsys has consistently supplied its electrode equipment to the South Korean battery maker in the past. It previous supplied its kit through LG Electronics PRI to LG Energy Solution but now deals with the latter directly.
The equipment costs around 1.6 billion won per unit, much higher than its assembly inspection equipment that it supplies to Samsung SDI, which costs 600 million won per unit.
Nsys’ core technology is vision inspection. A precise camera is used to detect defects on battery electrodes and surface. Its five surface inspection equipment supplied to Samsung SDI uses an image processing algorithm to show 2D images in 2.5D, while costing 30% less than competing products.
The company has also added new inspection equipment to its portfolio __ a hole defect detection kit and an electrode width inspection equipment. An integrated inspection equipment that combines its five surface inspection kit and top surface inspection kit will also launch this year.
Nsys, which is preparing for an IPO on April, is planning to spend parts of its funding from the listing to build a new factory near Cheonan. It is aiming to secure 37.95 billion won by offer 2.3 million shares. Mirae Asset Daewoo is underwriting the deal.
It is also developing inspection equipment for solid-state batteries.
Nsys was founded in 2006. It initially offered production equipment for plasma display panels, but began offering battery production equipment in 2014. LG and Samsung are its main clients. It is registered as a supplier to SK Innovation, though it is yet to supply any kits to the company. It is aiming to post sales of 50 billion won this year.