Ecopro

Name

Ecopro

Legal name

주식회사 에코프로

Website

https://ecopro.co.kr

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

EcoPro is a South Korean battery materials manufacturer producing high-nickel cathode active materials, precursors, lithium hydroxide, and battery recycling services for global EV battery cell makers and automotive OEMs.

Ownership category

akta.pro rank

Product category

Battery Materials Manufacturing

NAICS

Battery Manufacturing (33591), Battery Manufacturing (335910)

SIC

Industrial Inorganic Chemicals (2810)

akta.pro primary industry

Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA)

akta.pro secondary industries

Battery Recycling & Materials Recovery (Li-ion, LFP, Flow, Lead-Acid) (EUAMALAE), Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling) (EUAIAIAF), Collection, Logistics & Reverse Supply Chain (Transport, Sorting, Tracking) (EUAFACAA)

Keywords

• Battery cathode materials
• Lithium hydroxide production
• Nickel smelting operations
• Battery recycling services
• Secondary battery materials

Headquarters

HQ city

Cheongju

HQ country

South Korea

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Battery Materials Sales: EcoPro generates revenue primarily from selling battery cathode materials, precursors, and lithium compounds to battery manufacturers and automotive companies. In 2025, the company reported consolidated sales of 3.43 trillion won ($2.34 billion).
2. Nickel Trading: Revenue from nickel produced at Indonesian smelters, with expected average annual returns of 180 billion won through 2030

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Ecopro manufactures and supplies battery materials for the EV and energy storage supply chain, including high-nickel cathode active materials (NCM, NCA), cathode precursors, battery-grade lithium hydroxide, nickel MHP from Indonesian smelters, and battery recycling services. It sells these materials through direct enterprise contracts to battery cell manufacturers and automotive OEMs globally.

Product overview

EcoPro is a comprehensive battery materials ecosystem company transitioning from a cathode material manufacturer to a full-suite materials provider. The company operates through multiple subsidiaries: EcoPro BM produces high-nickel cathode materials (NCM, NCA) for electric vehicle batteries; EcoPro Materials manufactures cathode precursor materials; EcoPro Innovation produces lithium hydroxide with closed-loop reprocessing; EcoPro CnG handles battery recycling through wet processing; EcoPro HN provides environmental solutions including SCR systems and gas filters; and EcoPro AP supplies industrial gases. The company has built a 'Closed Loop Eco-System' integrating precursor production, cathode materials, lithium processing, and recycling. Global expansion includes a cathode materials plant in Hungary (Debrecen), nickel smelting in Indonesia (Morowali), and R&D for next-generation materials including solid electrolytes and lithium metal anodes for solid-state batteries in Canada.

Differentiator

Problem solved

Functional benefit

Brands

• EcoPro Group: The overall corporate group identity encompassing all subsidiaries and affiliated companies in battery materials, environmental solutions, and related sectors.
• EcoPro HN
• EcoPro BM
• EcoPro Innovation
• EcoPro Materials
• EcoPro CnG
• EcoPro EM
• EcoPro AP
• EcoPro Partners

Products and services

• High-Nickel Cathode Active Materials (NCM, NCA) Cathode active materials including NCM811, NCM9½½, and NCA high-nickel grades produced for EV battery applications, sold to battery cell manufacturers such as Samsung SDI, SK On, and LG Energy Solution.
• Cathode Precursor Materials Cathode precursor materials (NCM811, NCM9½½, NCA precursors) manufactured via Ecopro's proprietary RMP (Raw Material Precipitate) refining process, which produces high-purity precursors from low-grade intermediates at 20-40% cost advantage over LME spot pricing.
• Battery-Grade Lithium Hydroxide (LHM) Battery-grade lithium hydroxide monohydrate (LHM) for cathode active material production, including a closed-loop lithium reprocessing system. Produced in Korea and Hungary, supplied to battery manufacturers and directly to automotive OEMs under long-term contracts.
• Battery Recycling Services Wet-process battery recycling services extracting high-purity solvents and lithium salts from waste battery electrolytes and recovering lithium, nickel, and cobalt from spent batteries and manufacturing scrap at approximately 30,000 tons/year operating capacity at the Pohang campus, achieving 99.4% recovery rate.
• Environmental Solutions (Chemical Filters and SCR Systems) Chemical filters, SCR (Selective Catalyst Reduction) systems, PFCs reduction equipment, and greenhouse gas reduction equipment for steel, semiconductor, and industrial applications; includes Korea's first EPD-certified chemical filter CAFILDEX HECY.
• Industrial Gas Supply High-purity oxygen, nitrogen, and hydrogen industrial gases and utilities supply to Ecopro group's battery manufacturing sites.
• Solid Electrolytes for All-Solid-State Batteries Next-generation solid electrolyte materials under development for all-solid-state battery applications, targeted for mass production by 2027.
• Lithium Metal Anodes Lithium metal anode technology under development for solid-state batteries, offering up to 10x higher energy density than conventional graphite anodes; R&D operations based in Canada with full local lithium-metal anode value chain targeted by March 2027.
• Nickel MHP (Mixed Hydroxide Precipitate) Production Nickel smelting operations in Morowali Industrial Complex, Indonesia producing mixed hydroxide precipitate (MHP) used as raw material for battery precursor and cathode production, supplying sufficient nickel for approximately 600,000 EVs annually.

Quantifiable outcome

• Investment gains of around 250 billion won from Indonesian operations in 2025
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• PT Vale IndonesiacoreStrategic or Co-development Partner · 25 April 2026Second-phase investment through International Green Industrial Park project in Sambalagi, Sulawesi, in partnership with Indonesian state-owned PT Vale Indonesia.
• KiaminorStrategic or Co-development Partner · 6 October 2023Multi-party alliance for EV battery circular ecosystem including Kia, Hyundai Glovis, Evasycle, Gyeongbuk Province, and Gyeongbuk Technopark to establish battery recycling demonstration projects.
• Hyundai GlovisminorStrategic or Co-development Partner · 6 October 2023Partnership for EV battery circular ecosystem including battery recycling, feasibility evaluation, and supply chain development.
• SK OncoreStrategic or Co-development Partner · 17 August 2023EcoPro BM, SK On, and Ford agreed to establish a joint venture for cathode material production in Quebec, Canada. Investment of 12 billion CAD (approximately 1.2 trillion KRW) for annual production of 45,000 tons of cathode materials, with production starting 2026.
• FordcoreStrategic or Co-development Partner · 17 August 2023Ford and SK On established joint venture battery factories, with EcoPro BM supplying cathode materials through the Quebec JV. Ford cited EcoPro's quality, price competitiveness, and regulatory compliance as key evaluation factors.
• China GEMcoreStrategic or Co-development Partner · 28 March 2023Joint venture with SK On and China GEM to build precursor production facilities in Saemangeum, Korea (annual capacity 50,000 tons) and nickel MHP production in Indonesia (annual capacity 30,000 tons nickel).
• SK Eco PlantminorStrategic or Co-development Partner · 9 March 2023Three-way MOU with SK Eco Plant and TES for battery recycling cooperation in Europe. Collaborating to secure spent battery materials and scrap from EV and battery manufacturers in Hungary and Germany.
• TESminorStrategic or Co-development Partner · 9 March 2023Partnership with SK Eco Plant and TES for European battery recycling market. TES brings global network and expertise in e-waste processing across 22 countries.
• Ascend ElementsminorStrategic or Co-development Partner · 17 October 2022MOU for battery recycling cooperation with US-based Ascend Elements.
• AMG LithiumminorStrategic or Co-development Partner · 7 September 2022EcoPro signed lithium hydroxide supply agreement with German AMG Lithium for battery-grade lithium materials.
• SK On (historical)coreStrategic or Co-development Partner · 22 July 2022EcoPro BM previously agreed with SK On and Ford to establish cathode material production facilities in North America (LOI signed 2022).

Scale indicators8 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• POSCO Future M: POSCO Future M is South Korea's other major cathode active materials producer, manufacturing high-nickel NCM and NCA cathodes for the same Korean battery trio (Samsung SDI, SK On, LG Energy Solution). It is the closest domestic competitor to EcoPro BM, competing head-to-head for OEM qualifications and IRA-aligned capacity builds in Korea and abroad.
• Sumitomo Metal Mining: Sumitomo Metal Mining is a Japanese integrated cathode materials (NCA) and nickel sulfate producer supplying Panasonic/Tesla and other cell makers. It is a direct competitor in high-nickel cathode materials, with overlapping technology (NCA chemistry) and shared customers in the Japanese battery ecosystem.
• Umicore: Umicore is a Belgian materials technology company with a major battery cathode materials business serving European and global OEMs. It competes with EcoPro in the European cathode market and is pursuing parallel precursor and recycling strategies aligned with EU CRMA compliance.
• Ronbay Technology: Ronbay Technology is one of China's largest high-nickel cathode active materials producers, supplying both Chinese cell makers (CATL, CALB) and increasingly global OEMs. It is a direct global competitor to EcoPro BM on NCM811/NCM9½½ chemistries and scale, and a key reason for the Chinese supply pressure in cathode markets.
• CNGR Advanced Material: CNGR is a Chinese precursor (NCM precursor) and nickel sulfate producer with vertically integrated Indonesian nickel operations. It is a direct competitor in the precursor and upstream nickel segments where EcoPro Materials and QMB operate, and a key counterpart in the global NCM precursor market.
• GEM Co. GEM is a Chinese battery materials and recycling company that is both an EcoPro JV partner (in Saemangeum precursors and QMB Indonesia nickel) and a competitor in precursor manufacturing and battery recycling. Its overlapping footprint in nickel and recycling makes it a structurally comparable peer.

Broad incumbents

• BASF: BASF operates a global battery materials business (cathode active materials, precursors, recycling) through its Catalysts division. While not its core focus, BASF competes with EcoPro in serving European OEMs and has built precursor and CAM capacity in Schwarzheide, Germany, overlapping with EcoPro's Debrecen, Hungary strategy.
• Mitsubishi Chemical Group: Mitsubishi Chemical is a Japanese diversified chemical company with a battery materials portfolio including electrolytes and cathode materials. While broader than EcoPro, it competes in overlapping lithium-ion materials segments and serves Japanese battery and OEM customers, including Sony/Murata-type applications.

Emerging players

• Ascend Elements: Ascend Elements is a US-based battery recycling and cathode precursor manufacturer with whom EcoPro signed an MOU for recycling cooperation. It overlaps with EcoPro CnG in lithium-ion battery recycling and is pursuing a US-domiciled supply chain that competes for IRA-aligned OEM business.
• Tes (Sustainable Energy Solutions): TES is a Singapore-headquartered global e-waste and battery recycling company with a network across 22 countries. It is a direct recycling peer to EcoPro CnG and a partner through the 2023 SK ecoplant MOU for European battery recycling, targeting the same end-of-life battery feedstock stream.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@ecopro_group
• Facebookfacebook.com/ecopro.group

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries14 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ecopro