LG Energy Solution Brings in Start-ups to Foster Next Generation Battery Technology

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Jul 30, 2022, 20:00 ET

LG Energy Solution to host 'LGES Battery Challenge 2022' seeking start-ups with battery related technology to fund cutting-edge research in battery sector
Through international competition, LGES aims to maintain leadership in battery industry

SEOUL, South Korea, July 30, 2022 /PRNewswire/ -- LG Energy Solution (LGES; 373220) continues its efforts to foster next generation battery technologies by inviting start-ups in the industry. The battery manufacturer said it is hosting the 'LGES Battery Challenge 2022,' an international competition to identify start-ups for potential investment and collaboration.

Through the program, LGES is bringing together up and coming battery start-ups to keep pace with the fast-developing industry, as growing number of economies transition to renewable energy. This is the third time the company is hosting the competition.

Start-ups, with the specialty in battery related technology, can take part in this year's Battery Challenge. This year's program largely focuses on three major categories: battery technologies on materials, management and control, and smart factory. As many as 10 start-ups will be selected as finalists and each will receive funding as well as opportunity for cooperation with LGES.

"By utilizing programs like Battery Challenge and Open Innovation, LGES aims to maintain its leading position in the battery industry," said Youngjoon Shin, CTO of LG Energy Solution. "LGES will continue to expand battery-related research with promising start-ups as well as distinguished scholars and academic organizations around the world."

Applications will be accepted through September 16 on the official website (www.lgesbatterychallenge2022.com), which is set to go live on August 1 at 9AM (KST).

About LG Energy Solution

LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 24,000 patents. Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V. and Hyundai Motor Group. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution's ideas and innovations, visit https://www.lgensol.com.

SOURCE LG Energy Solution