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Hanwha Aerospace and ITM Semiconductor to Develop Advanced Submarine Batteries

Partnership aims to enhance submarine endurance with next-gen lithium-ion technology
South Korea
h 012450.KO i 084850.KQ Mid and Small Cap 2000
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South Korea’s Hanwha Aerospace Co. has teamed up with ITM Semiconductor Co., a notable player in the technology sector, to embark on a groundbreaking venture in submarine battery development. This collaboration aims to revolutionize the dynamics of submarine propulsion through advanced lithium-ion batteries, marking a significant stride in naval defense technology.

Last year, Hanwha Aerospace was chosen for a government-backed initiative to create a lithium-ion battery system specifically for submarine use. In this endeavor, they have brought on board ITM Semiconductor, known for its expertise in Battery Management Systems (BMS) and the development of subsea battery trays.

This partnership is set to address a crucial need in modern submarine operations. Traditional lead-acid batteries, while reliable, have limitations in recharge times and energy density. Hanwha and ITM’s focus on lithium-ion technology promises a transformative change, offering submarines a shorter recharge duration, higher energy density, and prolonged underwater capabilities.

A key aspect of this development is the emphasis on enhancing the batteries’ size, weight, and stability. Hanwha Ocean Co., a shipbuilding affiliate of the Hanwha Group, has recently secured orders for 3,000-ton submarines, which are expected to significantly benefit from these advanced batteries. Industry insiders anticipate that Hanwha Aerospace will be the primary supplier for these cutting-edge battery packs.

Simultaneously, ITM is intensifying its BMS operations, a critical factor in ensuring the safety of lithium-ion batteries used in both submarines and automobiles. This system effectively mitigates explosion risks by meticulously controlling voltage and currents. ITM’s diverse portfolio, spanning from smartphones to robotics, underlines their technical prowess and market versatility.

With a robust performance in 2022, generating revenue of 604.9 billion won and an operating profit of 9.2 billion won, ITM is poised for further growth. The firm’s involvement in the defense sector is projected to be a lucrative avenue, potentially adding over 200 billion won annually to its revenue stream.

As ITM gears up for mass production post-development, CEO Na Hyuk-hwi is confident about the company’s future prospects, particularly in the defense sector. This partnership not only symbolizes a leap in technological innovation but also underscores the growing synergy between South Korea’s defense and technology sectors.

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