LG Ensol Canada Production Subsidiary "NextStar Energy" Breaks Million Cell Production in Three Months

|TUSER PARABOLA=Park Jae-hyeong, reporter| LG Energy Solution's Canadian production subsidiary "NextStar Energy" announced on the 12th (local time) that it has successfully produced the millionth cell.

NextStar Energy, located in Windsor, Ontario, Canada, set a milestone of producing one million cells within three months after starting full-scale cell production in November last year, accelerating its production.

It is evaluated that early yield stabilization was achieved through abundant global production facility operation experience, leading to a rapid entry into production.

Currently, Next Star Energy is producing pouch long cells for lithium iron phosphate (LFP)-based energy storage systems (ESS).

Through advanced processes and state-of-the-art automation systems, along with systematic quality verification, we are consistently producing high-performance, high-quality products. We plan to more than double our production volume this year.

NextStar Energy Factory is Canada's first and only large-scale battery manufacturing facility, with a total investment of 500 million Canadian dollars (approximately 5.3 trillion won). It directly employs more than 1,300 people, and has completed international standard certifications such as Environmental Management (ISO 14001), Safety and Health (ISO 45001), and Automotive Industry Quality Management System (IATF16949), boasting sustainable operational capabilities, quality verification systems, and a safe working environment.

Brett Hilkert, Chief Operating Officer (COO) of NextStar Energy, said, "The successful production of a million cells is entirely due to the efforts of our employees," and added, "We are constantly raising the bar, and this achievement is the result of the employees' thorough execution, technical expertise, and unwavering dedication."

On the 6th, LG Energy Solution announced that it would fully acquire the shares of NextStar Energy, established through a joint venture with Stellantis, and convert it into a 100% subsidiary.

This strategy aims to concentrate on cultivating it as a forward base for preemptively responding to changes in the North American market and securing the rapidly growing North American ESS market.

We will continue our cooperation with Stellantis after the equity acquisition, and plan to continue supplying the previously planned electric vehicle batteries.