On July 10, South Korea-based battery equipment maker People & Technology Inc (PNT, 137400.KQ) announced an ambitious target of KRW 1.5 trillion (approx. USD 1.09 billion or CNY 7.8 billion) in annual revenue for 2026, up 50% from last year's KRW 1 trillion.  The company attributed this growth to aggressive expansion into new business areas including lithium iron phosphate (LFP) batteries, copper foil, and semiconductor glass substrates.

During an investor relations event hosted at Mirae Asset Securities in Seoul, CEO JoonSup Kim highlighted that PNT's core technologies—roll-to-roll (R2R) processing and plating—can be applied beyond batteries, including advanced semiconductor packaging such as glass substrates for FC-BGA (Flip-Chip Ball Grid Array). “Although battery investments are slowing, demand from new startups and automakers is increasing. This opens up more opportunities for us,” Kim stated.

PNT is currently building a production line in Gumi to manufacture LFP battery cells and cathode materials for energy storage systems (ESS). Operations are expected to begin in Q4 2025, with an initial capacity of 0.2 GWh for battery cells and 3 GWh for cathode materials. Originally intended to support equipment sales, the company is now open to selling finished cells directly if customers request.

In copper foil, PNT has established a subsidiary in Shaanxi, China—Future Advanced Materials—to produce foil for EVs, smartphones, and PCBs. The plant's annual capacity is currently 30,000 tons, with plans to expand to 50,000 tons in 2026. Kim noted that high electricity costs have made domestic copper foil production less viable, while China remains the world's largest market. PNT expects revenue from this business to reach KRW 500 billion.

PNT is also entering the semiconductor glass substrate market, focusing specifically on the plating stage of the TGV (Through Glass Via) process. The company has developed equipment capable of filling microvias in glass substrates with nickel and copper at over three times the speed of conventional systems, while maintaining plating uniformity and supporting fine-pattern processing. A dedicated R&D division for this business has been established in Siheung, Gyeonggi Province.

In 2023, PNT reported revenue of KRW 1.035 trillion, operating profit of KRW 163.2 billion, and surpassed market expectations. As of now, the company holds KRW 1.505 trillion in battery equipment backorders and KRW 348.9 billion in material business backlog. With mass production of semiconductor glass substrate equipment expected in the near future, PNT is positioning itself for rapid multi-segment growth across batteries, materials, and semiconductors.