The Dow Chemical Company and Ube Industries, Ltd. (Ube) announced an agreement to form a joint venture to manufacture and market formulated electrolytes for lithium-ion batteries (LIBs) in energy storage applications. The 50-50 joint venture, named Advanced Electrolyte Technologies LLC, is expected to be finalized later this year, pending regulatory approval.
The joint venture is another important step in Dow’s commitment to develop innovative material science technologies to solve some of society’s most pressing challenges through chemistry, including the world’s growing need for clean energy solutions. The joint venture also complements the growth strategy of Dow’s Energy Materials business by adding formulated electrolytes to an integrated product portfolio that addresses the rapidly expanding energy storage industry.
