Producer
EcoPro BM Co., Ltd.
South Korean cathode active material company (KOSDAQ: 247540, HQ Cheongju, North Chungcheong; EcoPro Group subsidiary); world's second-largest NCA cathode producer and a significant NMC producer for Korean battery makers. EcoPro BM supplies Samsung SDI (which uses EcoPro NCA for its cylindrical cells in BMW and other EV makers) and SK On. EcoPro BM's single-crystal NMC811 and NCA products enable premium battery performance — particularly for the cylindrical 21700 and 46xx format cells used in high-performance EVs. EcoPro Group also includes EcoPro Materials (battery recycling) and EcoPro Innovation — building a Korean circular CAM ecosystem. EcoPro BM's stock price rose ~600% in 2021-2022 as Korean battery material demand surged, then fell ~70% in 2023 as lithium prices collapsed and EV growth decelerated — illustrating the extreme cyclicality of battery material stocks.
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Cathode Active Materials (EcoPro BM)
65%Battery Recycling (EcoPro Materials)
15%Environmental Solutions (EcoPro HN)
12%Innovation & Other (EcoPro Innovation)
8%
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Did you know2024
EcoPro Group is one of the few battery supply chain companies that simultaneously manufactures industrial pollution control equipment (EcoPro HN: air scrubbers, VOC systems for Korean factories) and cathode active materials for EV batteries (EcoPro BM: NCA/NMC811 for Samsung SDI and SK On). The company whose environmental equipment reduces industrial air pollution in Korean factories also supplies the battery cathode that enables electric vehicles displacing gasoline cars. EcoPro Materials additionally processes spent battery black mass, recycling cathode metals back into new cathode precursors — creating a loop where the same conglomerate makes cathode materials, those materials go into EV batteries, batteries are retired, EcoPro Materials recovers the metals, and EcoPro BM makes new cathode. This integrated environmental-production-recycling structure, rare in the battery industry, was not planned but evolved from EcoPro's pollution control origins into battery materials.
EcoPro Corporation ↗Origin2023
EcoPro Group was founded in 1998 in Cheongju, North Chungcheong by Song Ho-joon as an industrial environmental protection company — specifically making pollution control equipment (VOC scrubbers, emission control systems) for South Korean factories. The battery cathode business was entered in the mid-2000s when Song recognized that Korean battery makers (Samsung SDI, LG Chem) needed domestic cathode suppliers as they expanded production. EcoPro HN (the original environmental business) still operates — making industrial air pollution control systems for Korean factories — while EcoPro BM (the battery cathode subsidiary) has grown to become the global NCA market leader. The same Korean founder who started an industrial pollution control company in 1998 built one of the world's most important EV battery cathode companies from the same Cheongju base.
EcoPro BM Co., Ltd. ↗