Umicore said it will partner with South Korea’s HS Hyosung Advanced Materials to commercialise its silicon-carbon anode technology, transferring all employees from its anode materials division into a new joint venture.
The Belgian materials group said its anode technology centre in Olen, Belgium, is ready to advance to industrial-scale production after more than a decade of research. HS Hyosung Advanced Materials will support and co-finance the next stage of development and hold an 80% stake in the venture, to be named The Extra Mile. Umicore will retain a 20% minority share. The project remains subject to regulatory approval.
The partners plan to expand Umicore’s existing Olen production line into an industrial demonstration plant by the end of 2026. Umicore said that “all of Umicore’s employees working for the anode materials activity will transfer to Extra Mile Materials and retain their employment terms and conditions,” marking a substantial organisational restructuring.
Umicore CEO Bart Sap said the joint venture aligns with the company’s strategy of building partnerships across the battery materials value chain. “Scaling and valorizing the anode material technology created by our teams in Belgium demonstrates our commitment to innovation,” he said. Geert Olbrechts, EVP & CTO, added that the collaboration “underscores the value of our extensive know-how and commitment to innovation in next-generation anode battery technologies.”
Umicore said its silicon anode material is undergoing qualification with several major global battery makers. The company holds more than 30 patent families covering the technology, which it says offers higher energy density, extended driving range and faster charging.
The decision to commercialise the technology through a minority stake follows a period of pressure on Umicore’s battery materials business. Last year, the company paused plans for a cathode materials plant in Loyalist, Canada, citing the need to adapt to a “new market reality” as demand forecasts weakened. A subsequent review of its battery materials division appears to have paved the way for the partnership with HS Hyosung Advanced Materials.