FINO Battery Materials Business Expands With KRW 15 Billion Capital Increase

FINO Approves KRW 15 Billion Capital Increase

South Korea’s FINO announced on August 28 that it had approved a capital increase of approximately KRW 15 billion through a third-party allotment to cathode active material manufacturer Cosmo Advanced Materials & Technology. Payment is scheduled for September 7. The company said it will use the proceeds to expand its FINO battery materials business, supporting its broader move into cathode materials. The capital increase provides funding for the company’s planned expansion while strengthening its relationship with a cathode active material manufacturer as FINO develops additional battery material capabilities.

Expansion Into LFP Cathode Materials

Building on its nickel-cobalt-manganese (NCM) precursor business, FINO is expanding into lithium iron phosphate (LFP) cathode materials. The company is strengthening its battery materials business by establishing an LFP cathode material production base in Pohang, North Gyeongsang Province, South Korea, through its subsidiary C&P New Material Technology. The move expands FINO’s activities beyond NCM precursor materials and adds LFP cathode production to its battery materials portfolio. The Pohang production base is intended to support this expansion and provide the company with an additional manufacturing foundation for LFP cathode materials.

Frequently Asked Questions

What did FINO approve on August 28?
FINO approved a capital increase of approximately KRW 15 billion through a third-party allotment to Cosmo Advanced Materials & Technology. The payment is scheduled for September 7, and the proceeds will be used to expand the company’s battery materials business. The transaction is part of FINO’s broader effort to strengthen its position in battery materials as it expands beyond its existing nickel-cobalt-manganese precursor business. The company is also developing an LFP cathode material production base in Pohang through its subsidiary C&P New Material Technology.

What battery material is FINO expanding into?
FINO is expanding from its nickel-cobalt-manganese precursor business into lithium iron phosphate cathode materials. The company plans to establish an LFP cathode material production base in Pohang, North Gyeongsang Province, through its subsidiary C&P New Material Technology. This expansion broadens FINO’s battery materials activities and adds LFP cathode materials to its existing capabilities. The approximately KRW 15 billion capital increase is intended to provide proceeds for expanding the battery materials business and supporting the company’s planned production base.