EcoPro BM
EcoPro BM is a Korean cathode active materials manufacturer producing NCA, NCM, and emerging LFP chemistries for major global lithium-ion battery makers including Samsung SDI, SK Innovation, and LG Energy Solution, with production in Korea, Hungary, and Canada.
- Company typePublic
- Founded1998
- HeadquartersCheongju, South Korea
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What EcoPro BM does
EcoPro BM is a Korean manufacturer of cathode active materials (CAM) for lithium-ion batteries, founded in 2016 as a subsidiary of EcoPro (founded 1998) and listed on KOSDAQ in 2019. Its core product portfolio includes high-nickel NCA and NCM cathode materials, precursors, lithium hydroxide, industrial gases, and battery recycling services. The company supplies major global battery cell manufacturers including Samsung SDI, SK Innovation, LG Energy Solution, and Sony, operating eight production facilities in Korea. The business model is B2B direct sales of qualified cathode materials under long-cycle supply agreements tied to cell makers' automotive and energy storage programs.
EcoPro BM is executing a parallel international expansion, with a 54,000 tons/year CAM campus in Debrecen, Hungary (mass production targeted from June 2026, sufficient for approximately 600,000 EVs annually), a CAM facility under development in Canada to serve North American customers, and a 39% stake in Indonesia's BNSI nickel smelter with planned 90,000 tons/year capacity, providing upstream raw material security. A ~1.2 trillion KRW rights issue is funding these buildouts. The company has also entered a joint venture with Samsung SDI and a partnership with Hyundai/Kia to co-develop LFP cathode materials, extending beyond its high-nickel NCA/NCM core. It has received the Korean Export Tower award, reaching $10 billion in cumulative exports by 2022.
EcoPro BM firmographics
Firmographics- Name
- EcoPro BM
- Legal name
- 주식회사 에코프로비엠
- Website
- https://ecoprobm.com
- Company type
- Public
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- EcoPro BM is a Korean cathode active materials manufacturer producing NCA, NCM, and emerging LFP chemistries for major global lithium-ion battery makers including Samsung SDI, SK Innovation, and LG Energy Solution, with production in Korea, Hungary, and Canada.
- Ownership category
- akta.pro rank
EcoPro BM industry classification
Industry- Product category
- Battery Materials (Cathode Active Materials)
- NAICS
- Battery Manufacturing (33591), Battery Manufacturing (335910)
- SIC
- Industrial Inorganic Chemicals (2810), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Primary Smelting & Refining Of Nonferrous Metals (3330)
- akta.pro primary industry
- Cathode Active Materials (CAM) Manufacturing (EUAFABAB)
- akta.pro secondary industries
- Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA), Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate) (IMAKAFAI), Battery Recycling & Materials Recovery (Li-ion, LFP, Flow, Lead-Acid) (EUAMALAE)
Keywords
Where EcoPro BM is headquartered
LocationHeadquarters
- HQ city
- Cheongju
- HQ country
- South Korea
- HQ region
- Asia
Offices4 records
Markets served
EcoPro BM business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Technology or R&D, Infrastructure, Personnel, Marketing or Sales
Revenue model
- Battery Materials (CAM) Sales: EcoPro BM generates the vast majority of its revenue from the sale of cathode active materials (NCA, NCM, P-NCM) to battery cell manufacturers. Revenues are derived from long-term supply agreements (LTAs) with major battery makers and spot sales. The company also benefits from upstream integration into nickel intermediates and precursor trading.
- Nickel Intermediates Trading: Through its investments in Indonesian nickel smelting operations (IMIP, IGIP/BNSI), EcoPro BM secures offtake rights on nickel intermediates, which are used internally for cathode production and traded commercially, providing additional revenue and cost advantages.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
EcoPro BM product offering
Product offeringCore offering
EcoPro BM manufactures high-nickel cathode active materials (CAM), including NCA (Nickel-Cobalt-Aluminum) and NCM (Nickel-Cobalt-Manganese) formulations, for lithium-ion batteries serving electric vehicles, power tools, and energy storage systems. The company controls an integrated value chain spanning Indonesian nickel smelting, precursor manufacturing, lithium hydroxide processing, cathode production, and battery recycling, producing materials from 8 factories in Korea, Hungary, and Canada.
Product overview
EcoPro BM (Battery Materials) is a specialized manufacturer of high-nickel cathode materials for lithium-ion batteries, operating as the core subsidiary of EcoPro Group. The company produces NCA (Nickel-Cobalt-Aluminum) and NCM (Nickel-Cobalt-Manganese) cathode active materials serving electric vehicle, power tool, and energy storage markets. EcoPro BM operates a multi-factory production network across Korea (Factories 1-5, 4N, and 5N) and Hungary (Debrecen campus with 54,000 ton annual capacity), supported by integrated operations in precursor manufacturing (EcoPro Materials), lithium processing (EcoPro Innovation), industrial gases (EcoPro AP), and battery recycling (EcoPro CnG). The company's product portfolio spans from precursor materials through finished cathode active materials, with strategic investments in nickel refining in Indonesia and production facilities in Canada to ensure a non-PFE compliant supply chain.
Differentiator
Problem solved
Functional benefit
Products and services
- NCA (Nickel-Cobalt-Aluminum) Cathode Materials High-nickel cathode active materials with aluminum doping, optimized for electric vehicle batteries and supplied to European premium automotive OEMs through the Hungary campus.
- NCM (Nickel-Cobalt-Manganese) Cathode Materials Ternary cathode materials combining nickel, cobalt, and manganese, designed for high-capacity lithium-ion battery applications in EVs, consumer electronics, and energy storage.
- Precursor Materials Intermediate precursor materials manufactured by the EcoPro Materials subsidiary, featuring particle size control, metal composition adjustment, fine separation, and metal impurity management technologies.
- Lithium Hydroxide Processing Lithium hydroxide processing operations at the Hungary Debrecen facility, operated by the EcoPro Innovation subsidiary, producing approximately 8,000 tons annually for cathode material production.
- Industrial Gases (Oxygen/Nitrogen) High-purity oxygen and nitrogen gas production by the EcoPro AP subsidiary, supplying oxygen at 16,000 m³/hour to support manufacturing operations at the Hungary campus.
- Battery Recycling Services (EcoPro CnG) Global battery recycling services operated by the EcoPro CnG subsidiary, supporting sustainable supply chains and circular economy for battery materials.
Quantifiable outcome
- 54,000 tonnes/year cathode material production capacity at Hungary plant — sufficient for ~600,000 EVs per year
- +4 more outcomes
Companies that use EcoPro BM
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
EcoPro BM technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
EcoPro BM partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- GEMcoreEcoPro BM signed a strategic cooperation MOU with GEM for raw material supply and overall value chain collaboration. GEM is a major Chinese battery materials company, and the partnership strengthens EcoPro BM's raw material procurement and global value chain positioning.
- Hyundai Motor Company and Kia CorporationcoreEcoPro BM entered into a cooperation agreement with Hyundai Motor and Kia for the joint development of new LFP (Lithium Iron Phosphate) battery cathode material manufacturing processes. This partnership targets next-generation LFP battery chemistry for Hyundai/Kia's EV lineup, representing a strategic move into the LFP segment alongside existing high-nickel NCA/NCM products.
- PT Vale Indonesia (PTVI) — via BNSI Joint VenturecoreEcoPro and EcoPro BM are the largest shareholders (39% stake) in the BNSI (Bahodopi Nickel Smelting Indonesia) nickel smelter project — a joint venture with Indonesian state mining company PTVI and other global partners. The project is located in Sulawesi, Indonesia, as part of the IGIP (International Green Industrial Complex). Total investment is approximately ₩15 trillion (~₩15 trillion KRW), with annual nickel capacity planned at 90,000 tonnes.
- Samsung SDIcoreEcoPro BM and EcoPro established a joint venture with Samsung SDI in February 2020, forming a long-term strategic partnership for the supply of high-nickel cathode active materials. Samsung SDI is a leading global battery cell manufacturer serving automotive and consumer electronics markets.
- SK InnovationcoreEcoPro BM entered into a long-term cathode material supply agreement with SK Innovation, securing a strategic offtake relationship with one of Korea's major battery manufacturers.
Scale indicators11 records
Recent moves12 records
Expansion highlights5 records
EcoPro BM competitors and assessment
Company assessmentDirect peers
- POSCO Future M: Korean high-nickel NCM and NCA cathode materials maker spun out of POSCO, supplying Samsung SDI, LG Energy Solution and SK On with vertically integrated precursor-CAM operations. Closest direct competitor to EcoPro BM in the Korean high-nickel CAM market.
- Umicore: Belgium-based materials group with a major cathode materials business serving European and global battery cell makers. Competes with EcoPro BM in NMC high-nickel chemistries and is similarly positioning around EU CRMA local-content requirements.
- Nichia Corporation: Japanese cathode materials producer with strong presence in NCA and NCM chemistries supplying Japanese and Korean cell manufacturers. Competes with EcoPro BM for high-nickel CAM business, particularly with Sony/Panasonic customers.
- Toda Kogyo: Japanese specialty materials maker focused on cathode active materials, particularly NMC for automotive applications. Long-standing competitor in the high-quality NMC/NCA CAM segment.
- Sumitomo Metal Mining: Japanese integrated miner/refiner producing NCA cathode materials, supplying primarily Panasonic/Tesla. Competes with EcoPro BM in high-nickel NCA and benefits from upstream nickel-cobalt integration similar to EcoPro BM's BNSI strategy.
- Ronbay Technology: China's largest independent high-nickel NCM cathode materials maker, rapidly expanding global capacity and supplying Korean/Japanese cell makers. Direct competitor in the high-nickel CAM category with significant cost advantages from Chinese supply chains.
- BASF Battery Materials: BASF's cathode active materials business (Schwarzheide, Harjavalta JV) produces high-Ni NCM for European OEMs and is a key competitor to EcoPro BM's Hungary campus in the EU premium-OEM supply chain.
- Zhejiang Huayou Cobalt: Vertically integrated Chinese cobalt/nickel refiner and CAM producer with major Indonesian nickel assets (matching EcoPro BM's BNSI/IMIP footprint). Competes in both precursor and cathode materials markets globally.
Broad incumbents
- LG Chem (Battery Materials): Parent of LG Energy Solution, LG Chem operates a significant cathode materials business supplying its own cell operations and external customers. Overlaps with EcoPro BM as both supplier and competitor in NCM CAM.
- SK Innovation / SK On: Korean battery cell maker and major EcoPro BM customer (LTA c.2020) that is also increasingly integrating upstream into CAM via internal projects and partnerships. Functions as both an important customer and an emerging competitor.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks2 records
Key highlights6 records
Customer concentration
EcoPro BM social profiles
Digital presenceEcoPro BM financial estimates
Financial estimateRevenue estimate
Valuation estimate
EcoPro BM leadership team
Management profileNumber of profiles
Profiles1 record
EcoPro BM subsidiaries and ownership
Company hierarchySubsidiaries6 records
EcoPro BM funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
EcoPro BM M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about EcoPro BM
What does EcoPro BM do?
EcoPro BM manufactures high-nickel cathode active materials (CAM), including NCA (Nickel-Cobalt-Aluminum) and NCM (Nickel-Cobalt-Manganese) formulations, for lithium-ion batteries serving electric vehicles, power tools, and energy storage systems. The company controls an integrated value chain spanning Indonesian nickel smelting, precursor manufacturing, lithium hydroxide processing, cathode production, and battery recycling, producing materials from 8 factories in Korea, Hungary, and Canada.
Is EcoPro BM a public or private company?
EcoPro BM is a public company. It is classified as public and is currently operating.
When was EcoPro BM founded?
EcoPro BM was founded in 1998. It employs 51 to 100 people.
Where is EcoPro BM based?
EcoPro BM is headquartered in Cheongju, South Korea, in the Asia region.
How does EcoPro BM make money?
Two revenue lines are on record. Battery Materials (CAM) Sales are the primary driver. The others are nickel Intermediates Trading.
Who are EcoPro BM's main competitors?
Direct peers on record are POSCO Future M, Umicore, Nichia Corporation, Toda Kogyo, Sumitomo Metal Mining, Ronbay Technology, BASF Battery Materials and Zhejiang Huayou Cobalt. Broad incumbents are LG Chem (Battery Materials) and SK Innovation / SK On.
Does EcoPro BM have an API?
No public API is recorded for EcoPro BM.
What industry is EcoPro BM in?
EcoPro BM's product category is Battery Materials (Cathode Active Materials). Its primary akta.pro industry code is EUAFABAB, Cathode Active Materials (CAM) Manufacturing, with a secondary code of EUAFABAA, Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite). Its NAICS code is 33591 and its SIC code is 2810.