LG Energy Solution to discover startups in battery sector

South Korea's LG Energy Solution Ltd. announced on Monday that it will host Battery Challenge 2024, an open innovation program to discover startups with distinctive technologies and business models in the battery sector.

Startups from any country can participate in the program.

Applications will be accepted through a dedicated website, which will be launched on June 4, until June 30.

The competition covers eight categories: Battery Materials, Battery Management System, Battery Manufacturing and Quality Control, Battery Maintenance, Battery Recycling and Reuse Technology, Smart Factory Solutions, Metal Sourcing, and New to LG.

The newly established Metal Sourcing and New to LG categories focus on securing raw materials for batteries and creating new energy-related businesses.

The maximum prize is $30,000, and participants will also have the opportunity for technical collaboration and investment review from LG Energy Solution.

Through proactive open innovation activities, LG Energy Solution aims to secure investment targets and analyze technology trends to prepare for future battery technologies.

Write to Hyung-Kyu Kim at khk@hankyung.com