Dow Chemical Company and Ube Industries have formed joint venture Advanced Electrolyte Technologies to manufacture and market formulated electrolytes for lithium-ion batteries (LIBs) in energy storage applications. The equal partnership is expected to be finalized later this year, pending regulatory approval.
“The growing demand for alternative energy production and energy storage systems places technologies such as advanced batteries for electric/hybrid vehicles and power generation at the very center of the global mega-trends,” said Heinz Haller, Dow executive vice president and chief commercial officer.
“Partnering with an electrolyte industry leader like Ube gives Dow the ability to provide cell manufacturers with a robust offering of material technology that meets demanding battery performance requirements.”
“We are very excited to form Advanced Electrolyte Technologies with Dow,” said Shinobu Watanabe, Ube managing executive officer. “Combining Dow’s material science strength and global footprint with Ube’s expertise in electrolyte technology will deliver significant growth opportunities for both companies.”
Advanced Electrolyte Technologies is another step in Dow’s commitment to develop innovative material science technologies to solve some of industry’s energy storage challenges. The new joint venture will also allow Ube to strengthen its global supply network and improve cost competitiveness for its electrolyte technology outside of Japan, allowing the company to take advantage of other rapidly growing geographical segments with its electrolyte technologies.
Advanced Electrolyte Technologies’ first manufacturing facility is expected to be built at Dow’s Michigan Operations’ site in Midland for startup in 2012.