South Korean battery equipment firm Clever has recorded 58.8 billion won in sales and 12.5 billion won in operating income in 2020, the company said on Wednesday.
This is an increase of 113% and 124%, respectively, from 2019.
The company, which mostly supplies to SK Innovation, said it saw expanded supply for folding, inspection and packaging machines for pouch-type batteries.
Folding machines accounted for half of its sales.
Clever was wrapping up the development of Gen 5 equipment that are “intelligent,” a company spokesperson said.
The machines will be space efficient so that it can be applied to various factory environment, they added.
Clever is also aiming to supply equipment for prismatic and cylinder batteries going forward.
The company is aiming to list on KOSDAQ this year. NH Investment & Securities is underwriting the deal.