LOTTE Chemical and Sasol Chemicals exploring collaboration to develop materials for electric vehicle batteries
June 20 2022 - 1:00AM
Business Wire
Companies will assess the feasibility of
building a facility to produce electrolyte solvents
Sasol Chemicals, a business unit of Sasol Ltd. (JSE: SOL; NYSE:
SSL) and LOTTE Chemical have agreed to conduct a pre-feasibility
study of a joint project to build, own and operate a plant to
produce battery-grade electrolyte solvents, key components of
lithium-ion batteries for electric vehicles.
The companies will assess the suitability of Sasol’s locations
near Lake Charles in the United States and Marl in Germany for a
facility that could produce a variety of battery-grade electrolyte
solvents, using feedstock provided by Sasol and third parties and
employing proprietary technologies of both LOTTE and third-party
licensors.
"The increase in battery demand is driving the rapid growth of
demand for the key materials that constitute a lithium-ion battery.
LOTTE Chemical will lead the global battery materials market
quantitatively and qualitatively by rapidly expanding our battery
materials business," said Young-Jun Lee, Head of the Battery
Materials Business Group for LOTTE Chemical.
“This agreement is consistent with our strategy to answer the
sustainability challenge through the solutions we provide our
customers,” said Shelley Grahmann, Vice President of Strategy
Development and Optimisation for Sasol Chemicals. “With an existing
Sasol footprint and strong site infrastructure available in Marl,
and the development of our Lake Charles site as a sustainability
hub, we are eager to determine if either site would be ideally
suited for a facility to provide key materials to the lithium-ion
battery market.” The project will also consider options to minimize
carbon footprint, such as the usage of renewable energy.
Electrolyte solvents enable lithium-ion batteries by allowing
lithium ions to travel more easily between the battery’s anode and
cathode. Lithium-ion batteries are likely to be the key power
source for electric vehicles.
About Sasol Chemicals
Sasol Chemicals is a solutions provider focused on
sustainability, circularity and specialties. It fulfills its
purpose of “Innovating for a better world” by offering a broad,
state-of-the-art portfolio of specialty and commodity chemicals for
a wide range of applications and industries.
Our solutions are used by more than 7,500 customers, in 120
countries, in countless products that improve the quality of life
for people around the world. They also provide the building blocks
for a sustainable future by helping reduce energy usage, waste and
packaging, and by providing solutions to the renewable energy
industry.
Sasol Chemicals is a business of Sasol Limited, a leading
chemicals and energy company focused on creating sustainable value
for our stakeholders. For more information, visit the Sasol
Chemicals website.
About LOTTE Chemical
LOTTE Chemical is Korea's leading chemical company, contributing
to the healthy and rich life of humankind through creative
challenges and innovation.
Our extensive range of products from polymer to megatrend
product groups is widely used in household goods that we frequently
encounter in our everyday lives, as well as cutting-edge new
materials.
LOTTE Chemical is poised to take another leap to protect nature
and make human life more abundant through the continuous
development of products using eco-friendly technologies. Based on
ESG management, we will create a more convenient lifestyle for
people and a better environment for nature, as we build a tomorrow
that is more beneficial to both people and nature. For more
information, visit the LOTTE Chemical website.
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version on businesswire.com: https://www.businesswire.com/news/home/20220619005002/en/
Sasol Chemicals media contact Russell Johnson Head of
Global Corporate Affairs Sasol Chemicals
russell.johnson@us.sasol.com
LOTTE Chemical media contacts Jiwoon Seong Senior
Assistant, Communication Team jiwoon.seong@lotte.net
Seung Han Jung Manager, Communication Team seunghanjung@lotte.net
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