Expansions: Mitra Future expands to South Korea; Merck sets up first digital hub in Singapore

Mitra Future Technologies, an innovator in North American production of lithium-ion battery materials, has opened its international office in Seoul, South Korea. This strategic move marks a pivotal milestone in Mitra Chem's global expansion, entering a market with three of the top six battery manufacturers, reinforcing its commitment to fostering customer-focused innovation and strengthening partnerships with global industry veterans supplying into the rapidly evolving battery industry, it adds.

The opportunity to work with industry-leading South Korean battery manufacturers, as well as materials and specialty chemicals partners on Inflation Reduction Act (IRA)-compliant battery materials supply is increasingly relevant and further bolstered by direct government financing from both countries.

During an official state visit to Washington, last year, South Korean President Yoon Suk Yeol expressed his support for such partnerships when he stated, "President Biden and I welcome the expansion of our firms' bilateral mutual investment and advanced technology including semiconductors, electric vehicles, and batteries."

In addition, similar to the US government's approval of financing initiatives through the IRA, President Yoon's administration recently announced a US$29 billion financing initiative over the next five years to fortify its battery industry and reduce dependency on China, which currently controls the majority of the battery supply chain.

"South Korea is an important country for the global lithium-ion battery supply chain, the US IRA, and Mitra Chem's future. We are proud to recogniSe this importance by opening our first-ever international office in Seoul. We look forward to deepening our strong business relationships with multiple South Korean financial and strategic partners as we transition our product focus into IRA-compliant commercial production.," says Mitra Chem CEO Vivas Kumar.

South Korean office team members will complement the Mitra Chem team at their 17,000 sq ft-cathode and cell R&D facility in Mountain View, California.

In other news, German technology firm Merck has opened the Merck Digital Hub in Singapore, the first outside of the US and Europe for its digital business Merck. Supported by the Singapore Economic Development Board (EDB), the Digital Hub aims to propel advancements within the healthcare and semiconductor industries, since Singapore is recognised globally for driving innovation and digital excellence, particularly in key areas such as digital health, semiconductor technology, and artificial intelligence, it adds.

“The latest investment by Merck is a show of confidence in Singapore’s digital capabilities. Its Digital Hub will enrich our local ecosystem and help advance digital innovation and talent across healthcare, semiconductor, and artificial intelligence (AI). We look forward to strengthening our partnership with Merck, spearheading more impactful collaborations that can drive the development of new solutions from Singapore, and the creation of good job opportunities for Singaporeans,” said Wan Yee Goh, Senior Vice President and Head of Healthcare, Singapore EDB. “Merck’s engagement in growing the digital presence in Singapore underscores the pivotal role of data and artificial intelligence as cornerstones of the future economy.”

Laura Matz, Chief Science & Technology Officer at Merck. adds that the Digital Hub will be at the forefront, leveraging secure data collaboration ecosystems such as Syntropy and Athinia. “This initiative is set to spearhead innovation and foster collaborative technology integration, not only in Singapore but also on a global scale."

Syntropy and Athinia enable secure data collaboration among participants in the healthcare and semiconductor industries. These platforms help data owners integrate and curate their data across their organisations, maintaining the high-quality standards required by both sectors.

Both platfirms have been built under the premise that high-quality data must be traceable to the source and governed appropriately to enable experts and scientists to uncover novel insights. The secure AI-enabled data flow can help unlock efficiencies while ensuring stakeholders maintain control of their intellectual property.

Syntropy Technologies is a technology company specialising in healthcare data governance, harmonisation, and collaboration solutions aimed at unlocking the value of real-world data, while Athinia provides a data analytics platform that brings manufacturers and materials and equipment suppliers together to share, aggregate, and analyse data to unlock efficiencies and time to market, while improving quality, supply chain, and sustainability

The Merck Digital Hub adds to Merck’s existing Singapore footprint with around 500 employees in its three business sectors: life science, healthcare, and electronics.

Subscribe to Get the Latest Updates from IMA  Please click here