Solus Advanced Materials said on Nov. 26 it had signed a medium- to long-term supply contract to provide about 20,000 tonnes of battery-grade copper foil to a top-10 Chinese battery manufacturer that is building a production facility in Europe.
The customer is expected to begin initial production at the end of next year, with mass production scheduled for 2027. Under the agreement, Solus Advanced Materials plans to supply roughly 20,000 tonnes of battery foil over a period of at least five years starting next year, although the actual volume could vary depending on market conditions. The batteries produced using the foil are ultimately expected to be delivered to a German original equipment manufacturer (OEM).
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The contract primarily covers next-generation ultra-thin copper foil, a higher value-added product aligned with industry efforts to reduce battery weight for electric vehicles. The company said the deal is expected to contribute to improved profitability next year as premium product orders expand.
Solus Advanced Materials also said the agreement allows it to meet a strategic goal set earlier this year to double its customer base to eight clients. The company plans to add two more customers next year to reach a total of 10, further diversifying its global customer portfolio.
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“Europe is rapidly reorganizing around electric vehicles in terms of policy, demand, and regulations, emerging as a key battleground in the global electric vehicle market,” Chief Executive Officer Kwak Geun-man said in a statement. “By building a diversified customer portfolio in the electric vehicle and energy storage system (ESS) markets, we are simultaneously improving both revenue stability and profitability.”
The company added that it plans to focus on strengthening its supply stability and technological differentiation to support long-term growth.