The Dow Chemical Company and Ube Industries Ltd (Ube) have 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 finalised 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.

"The growing demand for alternative energy production and energy storage systems places technologies such as advanced batteries for electric/hybrid vehicles and power generation at the very centre of the global mega-trends," said Heinz Haller, Dow executive vice president and chief commercial officer.