LG Group, the parent group of LG Electronics (KRX:066570), invested in Canadian lithium extraction firm Summit Nanotech through LG Technology Ventures, Yonhap News reported Wednesday.
The Series A funding round supports Summit Nanotech's lithium adsorption technology for battery manufacturing. While the exact investment amount was undisclosed, Series A rounds typically range from 2 billion to 10 billion won, the report said.
This follows LG's previous investment in Dallas-based ACT-ion, a firm specializing in high-efficiency single-crystal cathode materials, it said.
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