LG Energy Solution (LGES) is holding an international competition called the ‘Battery Innovation Contest’, which invites submissions of innovative battery technology ideas from now until the end of September. Winners can expect to receive 150,000 US dollars in research and development funding each year.
Scientists from universities and research institutes are called upon to submit their proposals within the next seven weeks via the official website of the ‘Battery Innovation Contest’. In addition to the aforementioned 150,000 US dollars per year, the winning universities and research institutes will receive the opportunity to exchange technology by sending LGES researchers for at least one year.
LG Energy Solution says it wants to use the competition to promote active research in the battery industry. Although a variety of topics are possible, some projects are likely to revolve around super-safe batteries, long life, low cost, solid-state electrolytes and next-generation batteries, according to an accompanying statement. To evaluate the submitted proposals, the South Korean company will form a committee of in-house experts to evaluate the research designs based on their originality and marketability. The winning proposals will be decided in November.
“LG Energy Solution aims to do its utmost to lead the battery industry by actively utilizing the outcomes of innovative researches shown from the’ Battery Innovation Contest’,” expressed Myung-hwan Kim, Chief Production & Procurement Officer and Head of the Battery Research Centre at LG Energy Solution. “The contest will provide various opportunities for international scholars so they can give their best work in battery-related research.”
LG Energy Solution shares that it is making a conscious effort to actively share and grow the sector, including through the digitally held “LG Energy Solution Innovation Forum 2021” in June. The company was spun off from parent company LG Chem at the end of 2020 and is to be listed on the stock exchange shortly. The subsidiary had already applied for preliminary approval for an IPO in June. However, LG Chem is to retain a 70-80% share in LG Energy Solution even after the planned IPO.
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