HTC, a small and medium-sized enterprise equipped with thermal management technology for electronic products, is challenging to go public on the KOSDAQ market this year. HTC is cooperating with automakers to prevent electric vehicle batteries from catching fire.
According to the industry on Nov. 11, HTC, located in Ansan, Gyeonggi Province, plans to submit its listing preliminary examination application to the Korea Exchange KOSDAQ Market Headquarters in the second half of the year. Korea Investment & Securities is the main underwriter for the listing.
Established in June 2019 following a split from IVT, HTC is a company that provides heat dissipation, extinguishing, and high-pressure container solutions. After successfully mass producing the world’s first heat control component, the large-area 'vapor chamber' in 2015, HTC was recognized for its technological prowess by developing battery cooling extinguishing devices and ultra-high-pressure containers for launch vehicles.
The company is also diversifying its products. It is developing heat dissipation components and materials needed in advanced fields such as OLED displays, secondary batteries, and aerospace, securing various clients including Samsung Electronics, LG Electronics, Samsung SDI, and Hanwha.
At the time of its establishment, the company’s capital was 4 billion won, but after several rounds of paid-in capital increases, it has now grown to 12.4 billion won. CEO Park Young-guk holds 18.9% equity. Its performance has steadily improved, recording a revenue of 29.2 billion won last year, with an operating profit of 1.2 billion won.
Particularly, the area attracting attention in the market is the heat dissipation technology that prevents thermal runaway in electric vehicle batteries. HTC has secured technology that can immediately extinguish a fire by placing extinguishing substances in the battery pack lid. The technology has been recognized by automakers expanding their investments in electric vehicles.
Battery safety has emerged as a critical issue in the process of transitioning to the era of electric vehicles. If fires occurring in batteries cannot be prevented, the growth of the electric vehicle market itself is threatened, leading automakers and battery manufacturers to stake their lives on advancing battery fire prevention technology. The industry is particularly focused on securing technology to prevent 'thermal runaway' that leads to major accidents.
The company expects that this technology will play a significant role in overcoming the electric vehicle chasm (temporary demand stagnation).
HTC has secured investment funds from venture capitals including Korea Investment & Securities, the Small and Medium Enterprise Promotion Institute, and K&Investment Partners.