HOUSTON–(BUSINESS WIRE)–June 20, 2022–
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 production plant for battery-grade electrolytic solvents, key components of lithium-ion batteries for electric vehicles.
The companies will assess the suitability of the Sasol sites near Lake Charles in the United States and Marl in Germany for a facility that could produce a variety of battery-grade electrolytic solvents, using raw materials supplied by Sasol and third parties and by employing proprietary technologies of LOTTE and third party licensors.
“The increase in battery demand is driving the rapid growth in demand for the key materials that make up 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 battery materials business group at LOTTE Chemical.
“This agreement is consistent with our strategy to address the sustainability challenge through the solutions we provide to our customers,” said Shelley Grahmann, Vice President of Strategic Development and Optimization at 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 look forward to determining whether either site would be a perfect fit. to a facility to supply key materials to the lithium-ion battery market. The project will also consider options to minimize the carbon footprint, such as using renewable energy.
Electrolyte solvents allow lithium-ion batteries to travel more easily between the anode and the cathode of the battery. Lithium-ion batteries are likely to be the primary power source for electric vehicles.
About Sasol Chemicals
Sasol Chemicals is a solutions provider focused on sustainability, circularity and specialties. It fulfills its goal of “Innovating for a Better World” by offering a broad, cutting-edge 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 to reduce energy consumption, waste and packaging, and 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 mankind through creative challenges and innovation.
Our wide range of products from polymers to megatrend product groups are widely used in household items that we frequently encounter in our daily lives, as well as new advanced materials.
LOTTE Chemical is poised to take another step forward in protecting nature and making human life more abundant through the continuous development of products using environmentally friendly technologies. Based on ESG management, we will create a more convenient way of life for people and a better environment for nature, while building a more beneficial future for people and nature. For more information, visit the LOTTE Chemical website.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220619005002/en/
CONTACT: Sasol Chemicals Media Contact
Head of Global Business Affairs
email@example.comLOTTE Chemical Media Contacts
Senior Assistant, Communications Team
firstname.lastname@example.orgSeung Han Jung
Manager, Communications Team
KEYWORD: TEXAS UNITED STATES NORTH AMERICA ASIA PACIFIC SOUTH KOREA EUROPE GERMANY
KEYWORD INDUSTRY: CHEMICALS/PLASTICS OTHER ENERGY AUTOMOTIVE EV/ELECTRIC VEHICLES MANUFACTURING ENERGY VEHICLES/ALTERNATIVE FUELS
SOURCE: Sasol Chemicals
Copyright BusinessWire 2022.
PUBLISHED: 06/20/2022 01:00 AM/DISC: 06/20/2022 01:02 AM
Copyright BusinessWire 2022.
#LOTTE #Chemical #Sasol #Chemicals #explore #collaboration #develop #materials #electric #vehicle #batteries