What Vulcanus does

Vulcanus (주식회사 불카누스) is a South Korean private manufacturing company founded in September 2021 and headquartered in Gimpo-si, South Korea, operating 11-50 employees across three integrated business divisions serving the secondary battery value chain. The Nano Materials Division manufactures high-purity nano silicon powder (Pure Si) and silicon-based composite anode materials (Si-C and SiOx-C), with installed production capacity of 2,400 tons/year at its Gimpo facility and stated intent to triple output. The Equipment Division designs and produces specialized thermal processing systems — NCM cathode active material CAR TUNNEL KILNs (up to 3.5x throughput vs. Roller Hearth Kiln), sulfide solid electrolyte inline firing equipment (±3°C precision), composite anode CVD systems (SiH4 and CH4 variants), glass melting lines, catalyst calcination kilns, and dry-process spent battery recycling reactors — engineered for cathode/anode makers and battery recyclers. The Spent Battery Recycling Division commercializes a proprietary three-stage dry recycling process that recovers Black Powder plus copper/aluminum scrap at 93%+ purity, with claimed 70%+ manufacturing cost savings and zero wastewater or harmful gas emissions. Direct revenue mechanics are quotation-based B2B sales to enterprise customers, supplemented by PILOT Center process validation services in Gimpo (multiple furnace types for trial production), with average disclosure roughly 156억 KRW raised from institutional investors in 2023 plus ~100억 KRW in supplementary funding. Named enterprise customers include Korea's leading battery makers (anonymized as E사, H사, S사, L사, P사), with Japanese automotive makers and the Americas as targeted export markets; technology partnerships with Sandvik and Kanthal extend Vulcanus's thin-film heating expertise into petroleum NCC carbon neutrality and semiconductor/display applications. A planned March 2025 spin-off of the equipment business into a re-established 한국열기술 and a June 2025 EGM-approved 170억 KRW sale of the Gimpo factory to 머니이즈 indicate ongoing corporate restructuring alongside the IPO target of 2026-2027.

Name

Vulcanus

Legal name

주식회사 불카누스

Website

https://vulcanus.co.kr

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Vulcanus (불카누스) is a South Korean manufacturing company that produces high-purity nano silicon anode materials and specialized thermal processing equipment — NCM cathode kilns, solid electrolyte inline firing, CVD systems, and dry-process spent battery recycling reactors — for major domestic and international secondary battery makers.

Ownership category

akta.pro rank

Product category

Battery Materials & Manufacturing Equipment

NAICS

Battery Manufacturing (33591)

SIC

Industrial Process Furnaces & Ovens (3567)

akta.pro primary industry

Anode Materials Manufacturing (Graphite, Silicon, LTO) (EUAFABAC)

akta.pro secondary industries

Solid-State Battery Materials & Cell Manufacturing (EUAFABAH), Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling) (EUAIAIAF)

Keywords

• Secondary battery materials
• Nano silicon anodes
• Battery firing equipment
• Solid electrolyte calcination
• Battery recycling equipment

Headquarters

HQ city

Kimpo

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. 나노 소재 판매 (Nano Material Sales): Manufacturing and selling high-purity nano silicon anode materials (Pure Si, SiOx, Si-C composite anodes) to domestic and international battery manufacturers. Started in January 2022. Target markets include Korea (E사, H사), Japan, and the Americas. Production capacity of 1,200 tons/year for Pure Si, expandable to 3,600 tons/year.
2. 이차전지 설비 제작 및 납품 (Secondary Battery Equipment Manufacturing): Designing and manufacturing specialized thermal equipment for secondary battery production including NCM cathode firing kilns, sulfide solid electrolyte inline firing equipment, composite anode CVD equipment, and waste battery recycling equipment. Sold to major Korean battery manufacturers (E사, H사, S사, L사).
3. PILOT Center 서비스 (Pilot Center Testing Services): Operating a pilot center with multiple furnace types (continuous rotating furnace, mesh belt furnace, roller hearth kiln, rotating tube furnace, batch rotating kiln, glass melting system) for customer testing and process development. Used for process validation before full-scale equipment orders.
4. 폐 배터리 재활용 설비 (Waste Battery Recycling Equipment): Developing and manufacturing waste battery recycling process equipment (B.P manufacturing, 5 ton/day capacity) and volatile gas re-combustion devices. Targeting domestic battery recycling operators with proprietary dry-process technology.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Vulcanus manufactures and sells high-purity nano silicon (Pure Si) and silicon-based composite anode materials for lithium-ion secondary batteries, and designs/builds specialized thermal processing equipment (NCM cathode firing kilns, sulfide solid electrolyte inline firing equipment, CVD equipment for composite anodes, glass and catalyst calcination furnaces) and dry-process spent battery recycling equipment. The company operates a Pilot Center offering testing and process development services to battery manufacturers and materials companies.

Product overview

Vulcanus (불카누스) is a specialized company in secondary battery materials and equipment, operating across three main divisions: Nano Materials (나노 소재 사업부), Equipment (설비 사업부), and Spent Battery Recycling (폐 배터리 리사이클링 사업부). The Nano Materials Division produces high-purity nano silicon powder (Pure Si) and silicon-based composite anode materials for lithium-ion batteries. The Equipment Division manufactures various calcination and heat treatment equipment including NCM cathode material calciners, sulfide solid electrolyte in-line calciners, CVD equipment for composite anodes, glass processing systems, catalyst calcination furnaces, and other specialty kilns. The company also operates a Pilot Center for R&D and process testing, and provides spent battery recycling equipment that produces Black Powder and recovers copper/aluminum scrap with 70% cost savings compared to conventional processes.

Differentiator

Problem solved

Functional benefit

Products and services

• High-Purity Nano Silicon (Pure Si) Nano-sized pure silicon powder for secondary battery anodes, manufactured to >95.5% purity with <0.01% metal content, available in 100, 200, and 800 nm sizes. Used as a high-capacity anode material additive that stores more lithium than conventional graphite.
• Silicon-based Composite Anode Materials Silicon-carbon composite anode materials produced via CVD process, including Pure Si deposited on carbon, SiOx synthesized from Pure Si and SiO2, and Si-C composite materials for final battery anode applications.
• NCM Cathode Material Calcination Equipment (CAR TUNNEL KILN) Car Tunnel Kiln equipment for secondary battery cathode active material (NCM, NM, NCMA) calcination with 12-zone control, +/-5°C temperature precision, oxygen partial pressure control, sealed atmosphere chamber, and up to 3.5x production throughput versus conventional Roller Hearth Kilns. Production capacity 22,292 kg/day, 8,000 ton/year per kiln.
• Sulfide Solid Electrolyte In-Line Calcination Equipment Continuous calcination equipment for sulfide-based solid electrolytes with zero-moisture conditions, +/-3°C temperature precision, argon gas atmosphere, and exclusion of metallic components to prevent reaction with lithium. Maximum 650°C, working 450°C.
• Secondary Battery Composite Anode CVD Equipment Chemical Vapor Deposition equipment for silicon-carbon composite anode materials. Includes SiH4 Gas CVD (max 650°C, 20 ton/year) and CH4 Gas CVD (max 950°C, 300 ton/year) systems with passivation devices.
• Glass Melting and Heat Treatment Equipment Glass melting and heat treatment systems including Frit glass melting (1,350-1,670°C, 20-100 kg/hr), OLED thin film frit heat treatment, vacuum glass sealing furnaces, and automotive side mirror forming/tempering furnaces.
• Catalyst Calcination Equipment Various catalyst calcination equipment including Car Bottom Kiln steam dryers, continuous conveyor belt furnaces, hydrogen atmosphere rotary kilns, and hydrogen humpback furnaces for NiO powder reaction and nickel powder sintering.
• Other Calcination Equipment Miscellaneous calcination equipment including oxide-free copper heat treatment for solar cells, welding wire firing kilns, plasma gas-fired kilns, waste PCB pyrolysis systems, waste S.C.R melting systems, and high-purity alumina calcination systems.
• Spent Battery Recycling Equipment (Dry-Process) Battery recycling equipment for Black Powder manufacturing with 5 ton/day capacity. Three-stage Heat Reactor process removes electrolytes and binders, separates aluminum and copper scrap, and produces high-purity Black Powder. Dry process with no wastewater or harmful gas emissions; delivers 70%+ manufacturing cost savings versus existing methods.
• Pilot Center Testing & Process Validation Services Pilot-scale testing facilities and services including Continuous Type Rotating Furnace, Mesh Belt Conveyor Furnace, Roller Hearth Kiln, Rotating Tube Furnace (CVD), SiH4 Gas CVD, Batch Type Rotating Kiln, and Glass Melting System for customer R&D, process optimization, and pre-purchase validation.

Quantifiable outcome

• 70%+ manufacturing cost savings in waste battery recycling compared to existing processes
• +4 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Sandvik (스웨덴)coreTechnology or Integration · 26 September 2022Swedish multinational company Sandvik and Vulcanus signed a technology sharing agreement on September 26, 2022 for direct heating device technology for petroleum NCC (Naphtha Cracking Center) process carbon neutrality. Additionally, an exclusive contract was signed for 0.2 tons of thin film heating element base material (heat wire) for domestic and international markets.
• Kanthal (칸탈)coreTechnology or IntegrationKanthal (Swedish company) partnered with Vulcanus for thin film heating element raw material supply. An exclusive contract for 0.2 tons of thin film heating element base material (heat wire) was established, supporting Vulcanus's display and semiconductor heat treatment equipment business.
• GIGA SOLAR MATERIALS (대만)minorChannel Partner/ Reseller/ DistributorTaiwan-based GIGA SOLAR MATERIALS signed an agent agreement with Vulcanus for technology supply related to thin film heating elements, secondary battery anode materials, and equipment. GIGA SOLAR MATERIALS serves as a sales agent for Vulcanus products in Taiwan and potentially other regions.
• 한국열기술 (Korea Heat Technology)coreStrategic or Co-development PartnerVulcanus acquired and merged with 한국열기술 (Korea Heat Technology) in December 2023. 한국열기술 was the origin of Vulcanus's secondary battery materials equipment business, having developed thin film heating elements and heating equipment for semiconductor and display applications. The merger strengthens Vulcanus's equipment manufacturing capabilities.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Sila Nanotechnologies: US-based developer of silicon-based anode materials (high-silicon content composites) for lithium-ion batteries. Directly comparable to Vulcanus's Pure Si / Si-C / SiOx-C composite anode materials, with anchor customers in the EV and consumer electronics value chain.
• Group14 Technologies: Manufacturer of silicon-carbon composite anode materials (SCC55™) for Li-ion batteries with an SK On joint venture in Korea. Closest direct competitor to Vulcanus's silicon-based composite anode materials business, with overlapping Korean cell-maker customer targets.
• Nexeon: UK-based silicon anode materials company with a strategic supply agreement with LG Energy Solution. Direct peer to Vulcanus in nano-silicon anode materials, sharing the same Korean cell-maker customer set Vulcanus serves.
• PVA TePla: German manufacturer of high-temperature furnace and plasma systems for semiconductor, solar, and battery materials. Closely comparable to Vulcanus's industrial furnace equipment business serving NCM cathode and solid electrolyte firing applications.
• Li-Cycle: Lithium-ion battery recycling company using a wet-mechanical/hydrometallurgical process to produce Black Mass (analogous to Vulcanus's Black Powder). Closely comparable to Vulcanus's spent battery recycling business line and end-product positioning.
• SungEel HiTech: Korea-based secondary battery recycling company (KOSDAQ-listed) producing Black Powder from spent batteries. Most direct Korean peer to Vulcanus's spent battery recycling equipment business and shares the same domestic recycling operator customer base.

Emerging players

• Enevate: US-based silicon-dominant anode technology company (XFC-Energy) with investment from LG Chem, Samsung, and others. Comparable to Vulcanus on silicon-anode chemistry and product positioning for high-energy-density Li-ion cells.

Broad incumbents

• Centrotherm International: German process equipment supplier serving solar, semiconductor, and battery cell production with diffusion, CVD, and thermal processing systems. Comparable to Vulcanus's CVD equipment and high-temperature calcination equipment portfolio.
• Ipsen (Ipsen International): Global manufacturer of industrial heat treatment furnaces serving aerospace, automotive, and energy/electronics markets including battery material production. Comparable to Vulcanus's equipment division serving secondary battery and advanced materials customers.
• Inductotherm Group: Global induction and resistance heating equipment supplier with applications in metals, advanced materials, and emerging battery materials. Comparable to Vulcanus's resistance-heating furnace technology base and broad thermal processing capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UC_your_channel

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors

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

M&A

Investments

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

Frequently asked questions about Vulcanus