POSCO (Pohang Iron and Steel Company)
Canvas Category OEM : Primary Metal
With an annual capacity of 42 million tons of steel products, POSCO exports a wide range of steel products including hot rolled sheets, plate, wire rod, cold rolled sheets, galvanized sheets and stainless steel to 53 countries, earning worldwide recognition for its superb technology and excellent quality.
Assembly Line
POSCO to buy Korean robotics firm stake for steel business
South Korea’s steel-to-battery materials conglomerate POSCO Group will invest in the leading domestic robotics company to boost its ailing steel business through factory automation as it seeks a new growth engine.
Neuromeka Co., Korea’s top collaborative robotics maker, announced on Friday it will issue 10 billion won ($7.2 million) in convertible bonds to POSCO Holdings Inc., parent of the world’s No. 7 steelmaker POSCO and EV battery materials producer POSCO Future M Co.
POSCO Holdings is set to secure a 3.81% stake in Neuromeka if the conglomerate converts the debt securities into the Kosdaq-listed company’s stocks.
AI Autonomous Manufacturing Alliance Launched to Transform Korean Manufacturing Landscape
The Ministry of Trade, Industry and Energy held the “AI Autonomous Manufacturing Alliance Launch Ceremony”’ on July 22, marking a significant milestone in the integration of artificial intelligence (AI) into the manufacturing sector. The event, attended by Minister Lee Chang-yang and over 250 representatives from industry, academia, and research institutions, showcased the collaborative efforts to revolutionize productivity, safety, and environmental sustainability in manufacturing.
At the launch ceremony, industry-leading companies such as Hyundai Motor, LG Electronics, DN Solutions, POSCO, EcoPro, GS Caltex, KAI, and HD Hyundai Heavy Industries presented their strategies for spreading AI autonomous manufacturing within their sectors. These strategies aim to significantly improve productivity and quality through AI and to extend AI across the entire value chain, including partner companies. By monitoring equipment and processes in real-time and analyzing data with AI, these companies plan to establish production systems that optimize work schedules and resource allocation, while also reducing energy consumption and carbon emissions.
POSCO gears up for carbon-free steelmaking with hydrogen
POSCO on Monday unveiled a pilot facility, which produces steel using only hydrogen instead of fossil fuel, for the first time. The process, so-called hydrogen reduction (HyREX) steelmaking, can dramatically reduce carbon emissions, according to the POSCO Holdings Inc. unit. Production costs, power supply are key issues for POSCO to succeed in the hydrogen reduction steelmaking business.
The facility, which manufactures up to 24 tons of molten iron a day, emits only 400 kilograms of carbon per ton, much lower than the emissions from the steelmaking process using fossil fuels such as coal and natural gas.
Hysata raises $111m USD led by bp Ventures and Templewater
Australia-based company Hysata is developing new high-efficiency electrolysers that aim to produce green hydrogen at scale with higher energy efficiency and lower costs than alternative technologies. The company’s technology combines engineering and science in a unique capillary-fed alkaline electrolyser that uses less energy to convert water to hydrogen.
bp Ventures and Templewater led the recent $111.3 million USD investment round in the company, with strong backing from existing major strategic and financial investors IP Group Australia, Kiko Ventures (IP Group plc’s cleantech platform), Virescent Ventures on behalf of Clean Energy Finance Corporation, Hostplus, Vestas Ventures and BlueScopeX. The company also welcomed new major strategic and financial investors POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group, Twin Towers Ventures, Oman Investment Authority’s VC arm IDO and TelstraSuper.
Hysata will use the funding to expand production capacity at its iconic beachside manufacturing facility in Wollongong, New South Wales and further develop its technology as it focuses on reaching gigawatt scale manufacturing.
LG's robot to be used in facility diagnosis of POSCO's steel mill
LG Electronics’ AI-based self-driving robots can be widely used for facility diagnosis at hazardous worksites in the future, the company said Wednesday, after completing a two-day demonstration of unmanned facility management using its robot at POSCO’s Gwangyang steel plant. LG said the robot completed its facility management mission in the electrical room of the steel plant in Gwangyang, South Jeolla Province, on Monday and Tuesday.
This demonstration project was carried out as part of a business agreement between LG Electronics and POSCO Holdings. In May, the two companies signed a business agreement for the development of technologies in the fields of robots, AI and 5G networks, and conducted the first stage of a demonstration in July to control the driving of a semi-autonomous robot.
“We equipped the robot with cameras and light detection and ranging (LiDAR) sensors. The robot uses the information acquired from the sensors to recognize its surroundings more accurately,” LG said. “It has a high recognition rate even in low-light environments such as basements or places where safety fences are installed around equipment. If it detects abnormal temperatures in various equipment in the electrical room using the temperature information obtained from its thermal imaging camera, it will take a picture and send an alert to the control room.”
Posco-backed group invests in lithium technology startup EnergyX
A consortium led by South Korean conglomerate Posco Holdings is investing in lithium technology startup EnergyX as it considers more efficient ways to produce the battery metal for the green energy transition. The push to electrify the world’s economy has fueled a hunt for stable supplies of lithium and other critical minerals and drawn attention to so-far unproven direct lithium extraction (DLE) technologies being developed by EnergyX and its peers.
POSCO, LG Electronics to jointly build smart factory
POSCO Holdings Inc. and LG Electronics Inc. announced on Wednesday that they will collaborate to upgrade POSCO’s smart factory technology. The initiative will involve the integration of robotics, artificial intelligence (AI) and wireless communication technologies.
Under the agreement, both companies will jointly develop technology to conduct safety inspections and manage facilities in steel mills. This initiative will employ autonomous robots integrated with AI, enabling operations in areas that are challenging for human accessibility.