L&F receives ministerial commendation for excellence in battery material growth

L&F, a global specialist in secondary battery materials, has been selected as a ‘World Class Performance Excellence Company’ and received a ministerial commendation from the Ministry of Trade, Industry and Energy. The award was presented at an event hosted by the Korea Institute for Advancement of Technology (KIAT).

L&F was recognized as a ‘requirement excess graduation’ company, a category for World Class 300 participants that have exceeded growth requirements by maintaining annual sales of over 1 trillion won for two consecutive years within the last three years. Since its initial selection in 2014, L&F has seen significant growth: revenue increased by 777% to 2.15 trillion won, exports rose by 786.5%, and employment grew by over 1,018%.

The company is pursuing a two-track strategy to diversify its portfolio. While maintaining competitiveness in high-nickel cathode materials, L&F is expanding into the Lithium Iron Phosphate (LFP) market through its wholly-owned subsidiary, L&F Plus. Mass production of LFP cathode materials, with an annual capacity of 30,000 tons, is scheduled to begin in the third quarter of this year.