[SMM New Energy] State-owned ESS firm debuts on STAR Market, surges ~600% on day one; market cap tops RMB100B

POSCO Future M said on May 6 that it has been included in the Dow Jones Best-in-Class World Index, becoming the first Korean battery materials company to do so. DJBIC is a sustainability index published annually by S&P Global, evaluating companies based on financial performance and ESG standards. The inclusion places POSCO Future M among the top 10% of companies globally in ESG performance, signaling international recognition of its sustainability competitiveness.

POSCO Future M recently signed an exclusive development agreement with a Japanese automaker for cathode materials used in all-solid-state batteries, according to industry sources on May 5. Under the deal, POSCO Future M will exclusively develop and supply cathode materials for the automaker’s all-solid-state battery project. The partner is reportedly a mid-sized carmaker. This marks the first case in which a Japanese automaker has designated a Korean materials company as the sole supplier of cathode materials for all-solid-state batteries.

POSCO Holdings said on April 30 that it signed a lithium mine equity investment agreement worth around $765 million, or KRW 1.1 trillion, with Australian mining and mining services company Mineral Resources in Perth, Australia. The deal details POSCO Holdings’ Australian lithium mine investment plan announced in November last year. Under the agreement, POSCO Holdings and Mineral Resources will establish an intermediate holding company, in which POSCO Holdings will acquire a 30% stake.