Minespider and Thingspire plan Battery Passport for South Korea and East Asian region

18 November, 2024 - Seoul, South Korea/Berlin, Germany - Minespider, a technology company offering a blockchain-based traceability solution based in Berlin, Germany, and Thingspire, a decarbonization solution provider headquartered in Seoul, Korea, announced that the two companies started joint R&D on a Battery Passport - a Digital Product Passport for the battery industry for East Asia, harnessing the technology and sustainability expertise of both firms.

Thingspire and Minespider are extending their collaboration, which started in May 2024. Beyond working on decarbonization, they agreed to co-develop Battery Passports focused on East Asia, particularly solutions for the EV and battery industry, to help EV manufacturers meet all upcoming requirements.

South Korea is considered one of the leaders in adopting the Battery Regulation aimed at improving the sustainability and transparency of the battery supply chain. According to the current regulation, OEMs in South Korea must provide information on capacity, rating voltage, maximum output, data about the battery cell manufacturer, type/form, and major ingredient compositions. Certain standards are coming into force gradually. For example, starting from October 2024, EV manufacturers are required to go through an additional certifying process with the central government to guarantee battery safety for the EVs that they manufacture. According to the amendment of the Legislation on Vehicle Management (자동차관리법), from February 2025, the creation of a unique battery ID within the Battery management system will be required. As discussions are still ongoing, the industry may see other upcoming requirements and new standards for EV and battery manufacturers.

The partnership between Minespider and Thingspire will be focused on bringing Minespider’s extensive expertise in Battery Passports to the Korean market while Thingspire will complement it with their significant  LCA experience, as well as local market knowledge.

Minespider entered the battery market in 2021 and developed its own Battery Passport to help OEMs and battery manufacturers comply with the EU Battery Regulation. Minespider works with industry-leading companies from the EV battery market, including Ford Otosan, Renault, Microvast and TEMSA. Minespider is also a part of the European Battery Alliance (EBA), the EU Commission’s funded project BATRAW, which aims to find new technological ways to recycle critical minerals from EV batteries, as well as the Recirculate project, focused on the creation of a battery materials marketplace and enhancing the circular economy.

"We have been working with Thingspire for several months now, and we are proud to have such a tech-savvy and knowledgeable partner in the East Asian region. We are ready to bring our experience of working with the EU Battery Regulation to South Korea in general and work with Thingspire on joint solutions. I am sure that Thingspire’s extensive expertise in LCAs will help clients work with the necessary data for complying with Battery Regulation and our joint solutions will help companies easily comply with all existing and upcoming regulations in the battery field." - Nathan Williams, Founder and CEO, Minespider.

"Since undertaking the national R&D project in the Electric Vehicle Data Platform in 2019, we have worked towards developing our core edge in data-driven platforms to give infrastructural level support to the growing EV industry. We are delighted at the prospect of co-developing Battery Passports with Minespider, a pioneer in this sphere. This is a logical sequel to our track record and will augment our existing business portfolio centered around decarbonization. Our mutual objective is for our Battery Passports to become the standard bearer worldwide." - Kwangjae Cho, CEO of Thingspire.

Minespider is a technology company offering a blockchain-based platform for tracking mineral supply chain data and creating more sustainable and transparent mineral supply chains. Minespider developed digital Product Passports, which are digital IDs of material that easily communicate key data across the supply chain. Companies such as Google, Ford Otosan, Minsur, Renault, and LuNa Smelter use Minespider's technology to drive the shift toward a sustainable future.

‍Thingspire is a Korea-based B-Corp Certified startup founded in 2014 that serves the manufacturing sector in achieving energy efficiency. Thingspire offers carbon accounting, energy management systems, and climate-focused AI solutions. Over the years, Thingspire helped over 600 clients with their decarbonization goals. Hyundai Electric, Lotte Chilsung, Novelis, SK Group, Shinsegae (SSG) and Gwangju Metropolitan City use Thingspire’s decarbonization solutions to advance their respective sustainability goals.