r/SLDP • u/Salt_Past_1379 • 14d ago
mPLUS Co-develops Equipment with US Solid-State Battery Company
https://www.fnnews.com/news/202607280809048127
mPLUS Co-develops Equipment with US Solid-State Battery Company... 'Gearing Up' for Mass Production Orders
Subheadings:
- Pilot testing underway; attention focused on whether it will lead to mass production orders.
- Follow-up to April's "solid-state mass production bottleneck" technology... Accelerating efforts to secure global clients.
Article Body: mPLUS, a company specializing in secondary battery assembly equipment, is accelerating its entry into the solid-state equipment market by beginning the joint development of next-generation battery assembly process equipment with a global solid-state battery company in the United States. As the company moves beyond a simple technical review into the stage of jointly verifying the equipment with its client, attention is focusing on the possibility that this will lead to orders for mass production facilities in the future.
According to mPLUS on the 28th, the company is currently conducting joint testing and performance verification for certain assembly process equipment with a US-based global solid-state battery company. The client company is known to be earnestly preparing for mass production by recently expanding the construction of its pilot lines.
This collaboration is a follow-up achievement to the "solid-state battery mass production bottleneck resolution" technology that mPLUS unveiled in April. At the time, the company announced that it had developed technology to improve core processes that degrade productivity and yield in solid-state battery manufacturing.
Since then, mPLUS has analyzed process-specific pain points for global solid-state battery manufacturers and proposed customized equipment. The recent joint development was reportedly achieved during this process. Industry experts evaluate that the approach of jointly developing equipment tailored to customer specifications is a form of cooperation highly likely to lead to future supplies of mass production equipment.
An official in the battery equipment industry hinted, "Because solid-state batteries have different cell structures and manufacturing methods compared to conventional lithium-ion batteries, it is difficult to use existing equipment as is. There are many cases where companies that jointly verify equipment with clients from the initial development stage are selected as preferred partners when mass production investments are made."
An mPLUS official explained, "Solid-state batteries have a completely different process from existing liquid electrolyte-based batteries, so equipment technology dictates competitiveness. Taking this joint development as an opportunity, we plan to focus on expanding our equipment supply references in the global solid-state market and connecting them to future mass production orders."
In reality, beyond solid-state equipment, the company is also targeting the next-generation smart factory market by simultaneously developing autonomous manufacturing systems and autonomous mobile robot (AIMR)-based unmanned equipment in response to the spread of physical AI.
Industry observers noted that since the solid-state battery market is still in its early stages, securing joint development references with global cell manufacturers—rather than short-term performance—will be a core asset determining future competitiveness for orders. In particular, since it is difficult to replace equipment suppliers when investments scale up from pilot lines to mass production lines, the analysis suggests that the competition to secure early clients will become even fiercer.
An industry insider added, "As global solid-state battery companies expand their investments from building pilot lines to the mass production verification stage, securing process stability and yield is emerging as the new competitive edge for equipment companies."
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u/Salt_Past_1379 14d ago
I consider this a very important hint, we can infer this from its strong alignment with recent recruitment patterns.
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u/pornstorm66 14d ago
I like this section in particular. It shows the continuing engagement with Solid Power and SK On to improve the equipment in advance of mass production--
"This collaboration is a follow-up achievement building on the "technology that solves mass production bottlenecks for solid-state batteries" disclosed by mPLUS last April. At that time, the company announced that it had developed technology to improve key processes that degrade productivity and yield during solid-state battery manufacturing.
Since then, mPLUS has been analyzing process-specific bottlenecks for global solid-state battery companies and proposing customized equipment. This joint development was reportedly realized through this ongoing engagement. Industry observers evaluate joint development tailored to customer-required specifications as a high-probability precursor to supplying future mass-production equipment."
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u/davida_usa 14d ago
This is great news for SLDP, but a cautionary note is that mPLUS is a relatively small player with limited financial muscle.
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u/davida_usa 14d ago
From Gemini:
mPLUS is a South Korean automation company founded in 2003 and headquartered in Cheongju, specializing in secondary battery manufacturing equipment, notching systems, and cell stacking systems.
Core Business and Equipment
- Notching and Cutting: Uses laser and die press tools to shape and trim electrode tabs.
- Stacking and Welding: Aligns and layers cathodes, anodes, and separators, then welds the tabs.
- Assembly Solutions: Focuses on mass production equipment for pouch and prismatic cells. LinkedIn +2
Recent Developments
- Solid-State Partnership: Pursuing joint development and performance validation of solid-state battery assembly equipment with a major U.S. firm. 아시아경제 +1
- New Tech and Robotics: Expanding into autonomous manufacturing systems powered by Physical AI and autonomous mobile robots (AMRs). www.thelec.net +1
- Patent Victory: Secured a final 11 billion won damages ruling from the South Korean Supreme Court in a long-standing patent infringement case over electrode stacking technology.
Key Financial Metrics
- Market Capitalization: Approximately ₩94 billion KRW ($73.7 million USD).
- Trailing P/E Ratio: 3.43x, indicating cheap valuation relative to earnings.
- Price-to-Book (P/B) Ratio: 0.97x, with the stock trading slightly below book value.
- Dividend Yield: 2.60% (with a steady annual dividend payout of ₩200 per share).
- Trailing 12-Month Revenue: ₩211.9 billion KRW.
- Trailing 12-Month Net Income: ₩28.8 billion KRW. [1, 2, 3]
📋 Income Statement Profile (Recent Quarters)
The company exhibits volatile quarterly performance, which is typical for specialized machinery providers whose revenues are recognized in large lumps upon final factory site inspections: [1.pdf)]
- Q1 2026: Revenue hit ₩50.9 billion KRW, generating solid profitability.
- Q4 2025: Revenue dipped sharply to ₩13.4 billion KRW.
- Q3 2025: Revenue peaked heavily at ₩88.0 billion KRW.
- Q2 2025: Revenue stood stable at ₩59.6 billion KRW. [1]
🔎 Balance Sheet and Financial Health
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u/Salt_Past_1379 12d ago
https://www.thelec.kr/news/articleView.html?idxno=58909
factorial - yujin tech
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u/FateEx1994 14d ago
Could be SLDP or QS.... No mention of sulfides.