Solvay announces PVDF capacity investment in Europe to meet growing EV battery demand
February 01 2022 - 12:00PM
Solvay announces PVDF capacity investment in Europe to meet growing
EV battery demand
Solvay announces PVDF capacity investment in Europe to
meet growing EV battery demand
The €300 million investment supports a fully integrated and
digitalized PVDF operation and will increase capacity at Solvay's
site in Tavaux, France to 35 kilotons – making it the largest PVDF
production site in Europe.
Brussels, February 1, 2022 - 6:00 p.m. CET
Solvay is further extending its existing leadership position in
the global lithium-ion battery market by expanding its production
capacity of high-performance polymer Solef® polyvinylidene fluoride
(PVDF) at its site in Tavaux, France. Building on its previously
announced PVDF capacity increase at its site in Changshu, China,
this new project will expand its capacity in Europe to 35 kilotons,
creating the largest PVDF production site in the region. This
investment will be completed by December 2023 and reinforces
Solvay’s global leadership in this field, positioning it to
capitalize on the growing demand for electric and hybrid
vehicles.
The rapid growth of electric and hybrid vehicles is driving
unprecedented demand for PVDF, a thermoplastic fluoropolymer used
both as a binder and a separator coating in lithium-ion batteries
which is essential for the creation of safer and longer-range
performance. Solvay’s solutions and innovation pipeline in Solef®
PVDF will help its customers optimize energy storage efficiency by
increasing the battery’s energy density, safety and power.
Solvay has been developing solutions for the automotive industry
for over 30 years. In addition to PVDF, Solvay continues to grow
considerable market share as it delivers lightweighting materials
that enable automotive OEMs to reduce weight and lower CO2
emissions. With the transformation to electrification expected to
accelerate in the next decade, Solvay is on track to double its
addressable market value per vehicle. As a result, Solvay expects
to grow its Materials business sales to the automotive market from
approximately €800 million in 2021 to more than €2.5 billion by
2030.
“Demand for electric vehicles is undergoing massive growth,"
explained Michael Finelli, president of Solvay's global growth
platforms. "We are capitalizing on this powerful megatrend through
a relentless focus on innovation that is generating new
technologies for our customers and positioning Solvay as an
unparalleled leader in this field. We are inspired both by the
environmental benefits as we transition to cleaner mobility and by
the commercial opportunities these new technologies offer. Solvay
has a long history of innovation in PVDF technologies and we are
extending our leadership through this significant investment in
Tavaux. This investment further demonstrates our deep commitment to
our customers and is aligned to our own long-term growth strategy
and our Solvay One Planet sustainability ambitions."
Solvay's plans in Tavaux exemplify its execution of its G.R.O.W.
strategy announced in November 2019, which focuses investments in
high-growth, sustainable solutions in Materials aligned to
important emerging megatrends. Furthermore, Solvay's Solef® PVDF
has also been recognized as a sustainable and profitable solution
by the World Alliance for Efficient Solutions for its contribution
to cleaner mobility, and was an essential component used by Solar
Impulse, the world's first solar-powered aircraft to circumnavigate
the world led by renowned balloonist, Bertrand Piccard.
Solvay will host an investor webinar to present its materials
technologies for the automotive market on February 2, 2022 at 3:30
p.m. CET, accessible using the following link.
Safe harbor
This press release may contain forward-looking information.
Forward-looking statements describe expectations, plans,
strategies, goals, future events or intentions. The achievement of
forward-looking statements contained in this press release is
subject to risks and uncertainties relating to a number of factors,
including general economic factors, interest rate and foreign
currency exchange rate fluctuations, changing market conditions,
product competition, the nature of product development, impact of
acquisitions and divestitures, restructurings, products
withdrawals, regulatory approval processes, all-in scenario of
R&I projects and other unusual items. Consequently, actual
results or future events may differ materially from those expressed
or implied by such forward-looking statements. Should known or
unknown risks or uncertainties materialize, or should our
assumptions prove inaccurate, actual results could vary materially
from those anticipated. The Company undertakes no obligation to
publicly update or revise any forward-looking statements.
- Solvay announces PVDF capacity investment in Europe to meet
growing EV battery demand
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