LS Materials wins $50 million order for ultracapacitors for AI data centers

LS Materials announced on the 13th that it will supply ultracapacitors (UC) for AI data centers worth about $51.5 million (about 69 billion won) to a U.S. hydrogen fuel cell company.

This contract is the largest in the domestic UC industry and is approximately 2.4 times the separate sales of LS Materials last year (approximately KRW 29 billion).

The contracted quantity is scheduled to be supplied sequentially for approximately one year starting in April 2027, and additional supply contracts are also being negotiated.

Previously, LS Materials signed an initial supply contract worth about $4.7 million (about KRW 6.3 billion) with the company in July and plans to start delivering in November. The company announced that the cumulative order amount, including this contract, is approximately $56 million, and is expected to exceed $100 million when additional contracts are signed within the year.

This contract is LS Materials’ first case of supplying UC for AI data centers.

Hong Young-ho, CEO of LS Materials, said, "This contract is significant in that we have secured a new foundation for growth by entering the hydrogen fuel cell market for AI data centers in earnest," and added, "We will expand cooperation with customers and strengthen our targeting of the global market based on our technological prowess in the mid- to large-sized UC field."