Zhejiang HUAYOU-POSCO New Energy Co.,Ltd announced that it will receive KRW 104,074,602,560 in an equity round of funding from returning investor Posco Chemical Co., Ltd. on August 25, 2021. The investor will acquire 10.17% stake in the company through the transaction and will hold 32.49% stake in the company post the completion of the transaction. The company expects to close the transaction on September 30, 2021.

The transaction was approved by the board of directors of the investor.