SK Siltron finalizes the acquisition of a start-up specialized in nano-carbon
SK Siltron, the only producer of silicon wafers in Korea, has finalized the acquisition of Teraon, a start-up specializing in nano-carbon.
SK Siltron completed the acquisition of 94,569 new shares of Teraon for 25 billion won on May 11. As a result, its stake in Terraon increased from 10.77% to 75.28%. It took approximately 37 billion won for SK Siltron to obtain the management rights for Teraon.
SK Siltron began acquiring the stake in Teraon in 2021. It purchased a 10.77% stake in Teraon for approximately 1.5 billion won.
Teraon is a five-year-old startup founded by Dr. Kim Yun-jin of Korea Electronics Technology Institute in 2018. It has technologies for materials such as nano-carbon heating material and high heat-resistant conductive ink . Among them, the nano-carbon heating material is capable of generating rapid and high-temperature heat at 250°C or more and can be used for electric vehicles and the like. The high-efficiency nano-carbon heater material and flexible film heater technology developed by Teraon to improve the energy efficiency of electric vehicles was also selected as one of the top ten nanotechnology selected by the Korean government in 2020.
In the first quarter of 2022, Teraon’s sales reached 277.38 million won, far exceeding sales of 57 million won in 2021. However, its operating loss in the first quarter was 270.45 million won, continuing to post losses. It showed a typical start-up scorecard.
SK Siltron plans to develop advanced materials businesses such as electric vehicles through Teraon. SK Group achieved vertical integration of its semiconductor business by acquiring SK Hynix in 2012 and SK Siltron in 2017. Currently, SK Siltron’s core business is silicon wafers, a base material for semiconductor circuits. -Built-in drivers. To expand its business areas, it acquired the silicon carbide wafer business unit of DDP Specialty Electronic Materials US 9, a subsidiary of DuPont in the United States for US$450 million in 2019.
Silicon carbide wafers are next-generation semiconductor materials used in electric vehicles, among other things. SK Siltron has entered a new business area after silicon wafers, a basic material for semiconductors. The company plans to create synergies with the advanced materials business for electric vehicles through Teraon.