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Exterior view of Enchem’s Poland plant. (Photo courtesy of Enchem) |
[Alpha Biz= Kim Jisun] Enchem, a South Korean manufacturer of electrolyte solutions for lithium-ion batteries, has approved a five-year supply agreement with CATL, the world’s largest battery maker, to deliver a total of 350,000 tons of electrolyte from 2026 to 2030. The contract was approved by Enchem’s board on June 23, with the formal signing scheduled for June 24.
The deal, covering CATL’s China operations, is valued at approximately KRW 1.5 trillion based on current prices—more than four times Enchem’s consolidated revenue in 2024. Annual supply volume of 70,000 tons exceeds Enchem’s total electrolyte shipments in 2023, marking the largest single-customer contract in the company’s history.
The agreement is seen as strategically significant, as it represents a rare case of a Korean battery materials company securing a large-scale, long-term supply contract with China’s leading battery manufacturer in a market dominated by Chinese suppliers. The deal reflects CATL’s assessment of Enchem’s technology, product quality, and mass-production capabilities.
CATL supplies batteries to global automakers across China, North America, Europe, and Southeast Asia. Enchem plans to expand supplies beyond China to CATL’s overseas production bases. Revenue from the contract will be recorded on a consolidated basis through Enchem’s domestic and overseas subsidiaries.
Enchem expects the contract to generate more than KRW 300 billion in additional annual revenue from the second quarter of 2026, while further growth opportunities remain in Europe, North America, and Southeast Asia. The company aims to become the global market leader in electrolytes by 2030, supported by expanded production capacity and advanced high-performance electrolyte technologies.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
