100% acquisition of Tera Technos's stake at approximately KRW 47.8 billion (USD 35.6 million)

 

POSCO Holdings has secured management rights to Tera Technos, a lithium-ion secondary battery anode materials manufacturer.
On July 1, 2022, Tera Science, the parent company of Tera Technos, announced the decision to transfer its stake in Tera Technos (3,320,956 shares) to POSCO Holdings for KRW 47.8 billion (USD 35.6 million). Tera Science stated that the acquisition aimed to enhance management efficiency and secure operating funds.
Tera Technos is an R&D-focused company that produces high-performance silicon oxide anode materials for secondary batteries. It pioneers unique silicon oxide (SiOx) nanopowder manufacturing technology, developed by the Energy Technology Research Institute, a national research organization, in 2017. As Tera Technos is still in the R&D phase, its sales last year amounted to only KRW 3 million (USD 2,238), and the net loss for the current term was KRW 1.7 billion (USD 1.26 million). Given these figures, POSCO Holdings' acquisition is considered a future-focused investment, rather than a short-term profit.
The acquisition of Tera Technos is viewed as part of POSCO Holdings' strategy to transform itself into a future-orientated materials company. In March 2022, POSCO Group led the materials expansion initiative, announcing plans to transform the group into an enterprise specializing in secondary battery materials like lithium and nickel, as well as eco-friendly materials of the future such as hydrogen, energy, and steel, in addition to food sources centered on its holding company, POSCO Holdings.

Newsway reporter Lee Seung-yeon on July 01, 2022