In early trading on the 2nd, COSMO Chemical, a secondary battery materials corporations, is rising. Buying is seen to be gathering on news that it completed registration of a patent for technology to manufacture iron phosphate, a raw material for lithium iron phosphate (LFP) batteries.
As of 10:12 a.m. that day on the Korea Exchange, COSMO Chemical was trading at 16,620 won, up 1,170 won (7.56%) from the previous session.
The previous day, COSMO Chemical said it had completed registration of a patent for a method of manufacturing iron phosphate, used as a raw material for LFP batteries.
COSMO Chemical is the only company in Korea that produces titanium dioxide (TiO₂), known as a representative white pigment, and cobalt sulfate (CoSO₄), a key raw material for secondary battery cathode materials.
The patented technology is a process that manufactures iron phosphate by using about 100,000 tons of iron sulfate generated during titanium dioxide production. It is known for enabling the conversion of existing byproducts into high value-added LFP precursors.
A COSMO Chemical official said, "Through vertical integration of nickel, cobalt and manganese (NCM) cathode materials with Cosmo AM&T, we will expand our business scope to not only ternary materials but also LFP materials," adding, "Research outcomes on battery-grade high purification technology for iron sulfate and LFP material recycling technology will also gradually become visible."