Lotte Chemical Corp. announced June 20 that it is considering the construction of an electrolyte solvent facility in the Lake Charles area to bolster its battery components business, reports the Yonhap News Agency in South Korea.
The company signed an agreement with Sasol Chemicals LLC to conduct a feasibility study on the envisioned project, to be located either in the Lake Charles area or the industrial city of Marl in northwestern Germany. It would mark Lotte’s first expansion into the U.S. or European market with the battery component business, which Lotte Chemical has been pushing as a new growth driver.
Electrolyte solvent refers to a solution in a lithium-ion battery that helps lithium-ion move easily between anode and cathode. It is a key material that affects the performance and durability of the rechargeable battery used in electric vehicles.
Under the envisioned collaboration, Sasol Chemicals would provide Lotte with the feedstock and Lotte would use its proprietary technologies to produce the solvent. Read the entire story.