GRINERGY Secures KRW 40 Billion Investment for Global LTO Battery Market Expansion


South Korean energy startup GRINERGY has signed an investment contract worth KRW 40 billion with a North American global investment group, as part of its strategic plan to enter energy markets in North America, Europe, and the United States. This agreement aims to bolster GRINERGY’s global presence in the LTO (Lithium Titanate) battery market and lay the groundwork for future growth.

The investment group, which has branches in New York and Paris, specializes in managing long-term investments including venture capital (VC) and private equity (PE). It currently manages assets totaling KRW 45 trillion worldwide. This investment is structured as a Share Subscription Facility Agreement, which will enable GRINERGY to access up to KRW 40 billion in funding as needed from the latter half of 2025. This type of investment model, although uncommon in Korea, minimizes market impact on share prices by allowing for flexible coordination of investment amounts and schedules between the investors and the company. The group has successfully used this investment approach for over 30 years and has recently applied it to several Korean firms over the past two years.

With the new funds, GRINERGY plans to complete its manufacturing facility in Yeoju, Gyeonggi Province, and invest in expanding its production capacity and equipment. The company also aims to secure intellectual property to foster growth and prepare for global market expansion. Recently, GRINERGY partnered with Snapfast, a British provider of off-grid solar and wind lighting solutions, to establish a joint venture (JV) in the UK. This JV, supported by UK Research & Innovation, will commence local production of LTO batteries, with confirmed investments set to be executed by the third quarter of 2024.

Bang Seong-yong, CEO of GRINERGY, commented, “This agreement is a pivotal milestone for our entry and growth in the global market. We are committed to becoming a leading global energy company through sustained innovation and investment.” GRINERGY’s LTO batteries are distinguished by replacing traditional graphite anodes with LTO, offering enhanced safety and efficiency over standard lithium-ion batteries. These batteries are ideal for promoting electrification across diverse sectors, including heavy machinery, maritime and shipbuilding, railways, defense, and energy storage systems (ESS), due to their stability, high output, and extended lifespan.


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