Onejoon said on Tuesday that it plans to use the fund it secures from its IPO to research silicon anode and carbon fiber processing technologies.
The company manufactures thermal kilns used in battery production as well as develops production processes for battery materials.
It offers roller hearth kiln and pusher kiln. These are used to apply heat and gas to production materials to mix them up through the chemical reaction.
The roller hearth offers heat of up to 2,800 Celsius. It is used mostly for battery cathode production. Pushers are used for anode production.
Onejoon was also developing its own thermal processing equipment for use in the production of solid-state batteries.
It has supplied a pilot version of the equipment to an overseas partner as is testing it.
Onejoon added that it plans to continue to expand its material processing business as well. It offers material production in turn-key fashion to customers.
The company plans to issue around a million new shares for its IPO. It is hoping for a share price between 52,000 won to 60,000 won. It will conduct orders for institutional investors from September 15 to 16. NH Investment & Securities is underwriting the deal. It plans to list on KOSDAQ in October.