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Posco Future M, the battery materials subsidiary of steel giant Posco Holdings, announced on Monday that it has signed a memorandum of understanding (MOU) with China’s CNGR Advanced Material to collaborate on a new battery materials project. This strategic partnership also includes CNGR’s Korean subsidiary, Fino, further strengthening the alliance. The MOU is designed to support Posco Future M’s plans to expand its rechargeable battery cathode material business. Currently, Posco Future M produces cathodes primarily for nickel-cobalt-manganese (NCM) and nickel-cobalt-manganese-aluminum (NCMA) batteries. However, the company aims to broaden its product portfolio by increasing supply for lithium manganese-rich and lithium iron phosphate (LFP) batteries. LFP batteries have been gaining popularity, especially in energy storage system (ESS) applications, thanks to their cost-effectiveness and superior safety characteristics compared to other battery types. Recognizing this trend, the three companies intend to explore opportunities for establishing a production facility focused on LFP cathode materials to meet growing demand in the ESS market. Through this collaboration, Posco Future M and its partners hope to leverage their combined expertise and resources to capture a larger share of the rapidly expanding battery materials industry, ultimately supporting the global shift toward cleaner and more sustainable energy solutions.

The National Broadcasting and Telecommunications Commission (NBTC) has approved National Telecom (NT) to launch Thailand’s first local satellite broadband internet service via low Earth orbit (LEO) satellites. The state-owned telco began offering the service this month through its partnership with Eutelsat OneWeb, a global LEO satellite operator, said NT president Col Sanpachai Huvanandana. Col Sanpachai says LEO’s broadband service will be a significant driver of NT’s revenue in the future. NT aims to generate US$30 million in revenue from this service by 2030, excluding the annual 200 million baht infrastructure rental fee paid by Eutelsat OneWeb to NT. This approval follows an NBTC resolution in March that allowed NT to provide broadband services using Eutelsat OneWeb’s LEO satellites for regional markets outside Thailand. NT operates the LEO broadband service via its gateway in Ubon Ratchathani province, expected to serve over 50,000 users across Southeast Asia in its first year. Together, NT and Eutelsat OneWeb have invested over US$25 million to build local infrastructure enabling these services in Thailand and the surrounding region. Eutelsat OneWeb is part of the Eutelsat Group, a leader in satellite communications with a fleet of 35 geostationary and 634 LEO satellites worldwide. Targeting regional enterprises needing connectivity in remote areas, NT sees satellite broadband as a major future revenue source. According to tech research firm Gartner, global spending on LEO satellite communication services is forecast to reach US$14.8 billion by 2026, a 24.5% increase from 2025. Gartner senior analyst Khurram Shahzad noted that LEO satellites primarily provide broadband to remote locations lacking traditional network access, but emerging consumer and business applications are driving rapid market growth. With over 20 active LEO providers and more than 40,000 satellites expected soon, LEO technology is becoming a mainstream broadband solution offering reliable internet and IoT connectivity anywhere — including on airplanes, ships, and offshore platforms. Key growth areas in 2026 will include remote consumer and business use (with expected spending increases of 40.2% and 36.4%), followed by IoT, maritime and aviation connectivity, and network resilience improvements. Examples of new use cases include LEO-connected drones providing mobile coverage during disasters and US airlines offering free high-speed WiFi via LEO satellites. Despite strong growth, the industry faces challenges like regulatory hurdles, capacity limits, roaming restrictions, and limited certification for some critical applications. Communications providers are advised to tailor strategies based on specific use cases.

KUALA LUMPUR, Petroliam Nasional Bhd (Petronas) is looking to expand its footprint in Canada, which has become one of its key liquefied natural gas (LNG) supply bases, said Mohd Jukris Abdul Wahab, executive vice president and CEO of upstream business. With an estimated 50 trillion cubic feet (TCF) of gas in Canada, Petronas sees significant potential beyond the current Phase 1 of the LNG Canada project. “With 50 TCF, we can support several more LNG projects as resource size is not the issue here,” Mohd Jukris said, adding that the company hopes to receive continued support from the Canadian government. The energy giant shipped its first LNG cargo from the LNG Canada facility in Kitimat, British Columbia, on July 8. It also operates the North Montney Joint Venture upstream gas project and is a major equity partner in the US$40 billion LNG Canada facility. Internationally, Petronas has strengthened its presence in countries including Brunei, Indonesia, Vietnam, Turkmenistan, Abu Dhabi, Canada and Suriname. Mohd Jukris noted that Suriname, where Petronas is developing its first offshore gas discoveries, is among its growth markets. Petronas aims to increase revenue from international assets to over 60% of its total, up from the current 40%, while maintaining strong investments in Malaysia as part of its core portfolio.

Lithium carbonate futures in Guangzhou surged by the daily limit of 8% to US$11,279 per tonne after Contemporary Amperex Technology (CATL) suspended production at a major lithium mine in Yichun, Jiangxi province. The world’s largest EV battery maker said its mining licence expired on Saturday and that it has applied to restart operations. CATL noted the halt would have only a limited impact on its business. Analysts believe the move reflects Beijing’s push to rein in overcapacity in the EV battery sector. “It remains to be seen whether the government will take further steps to limit lithium output,” said Ding Haifeng of Shanghai-based Integrity. A view of CATL’s lithium mine in Yichun, Jiangxi province. Lithium price fluctuations directly affect EV production costs. Citigroup estimates that every 10,000 yuan per tonne rise in lithium prices could cut CATL’s 22.4% profit margin by about four percentage points.