SK Innovation announced on February 18 (U.S. time) that it has signed a Joint Development Agreement with PolyPlus Battery Company, a U.S. battery technology developer, in Berkeley, California.
The technology was acquired through an open innovation that SK Innovation is pursuing as a strategy to actively secure core technologies in the future.
SK Innovation will invest money in research and development of PolyPlus' "Conductive Glass Separator" through the Agreement and future options for investment in shares and securing licenses for technologies are also under consideration.
SK Innovation is planning to finish research on Conductive Glass Separator by second half of 2021, and apply it to development of Lithium Metal battery.
The agreement is the first case in which SK Innovation and Innovation Research Institute will secure technologies through open innovation that it has been pushing since last year.
Its advantage is that open innovation can minimize risks through rapid decision making and accelerate development speed through cooperation with technology-holding companies.
Because it can secure technologies in a timely manner by reflecting trend of rapidly evolving technology development, it is mostly used in bio pharmaceutical and environment-friendly materials industries.
"The next major capability to take the lead in the fast-paced battery business for electric vehicles is technology," said Lee Sung-joon, head of the Technology Innovation Institute of SK Innovation. "We are going to expand cooperation with various outside organizations by utilizing open innovation in the future,"
Meanwhile, SK Innovation decided to invest heavily in its battery business last year and is currently establishing facilities for producing batteries in China, Changzhou, Hungary, and Georgia.