Global electric vehicle parts company ALMAC announced on the 18th that its subsidiary AR Aluminum has completed raising $7.5 million (approximately 10.4 billion won) in investment.
Previously, AR Aluminum conducted a rights offering for existing shareholders targeted at a U.S. global electric vehicle manufacturer. Since its establishment in 2022, it has received an initial investment of $5 million, and this is the second one. Based on the scale of this investment and the equity ratio, AR Aluminum's value is estimated at 268 billion won.
AR Aluminum plans to use the funds secured from this investment to establish aluminum recycling processes. It is expected that through a system that resources recycled aluminum scrap, it will be able to overcome not only cost competitiveness but also regulations including carbon border taxes.
Vertical integration is also expected to strengthen. ALMAC is currently supplying electric vehicle parts to key overseas markets such as North America and Europe. Recently, it also signed a parts supply contract worth 190 billion won with a global automobile manufacturer in the United States.
An ALMAC official noted, "AR Aluminum secured investment from global partners despite unstable economic conditions such as the U.S. tariff policy," and added, "This will serve as an important foundation for continued growth."