Huntsman Announces Plans to Meet Demands of Lithium-Ion Battery Market
The Woodlands, Texas – Huntsman Performance Products, a division of Huntsman Corporation (NYSE: HUN), today announced plans to meet the needs of the burgeoning global lithium-ion battery market.
Huntsman’s plans include both near-term expansion of its ULTRAPURE® solvent electrolytes production capabilities in Conroe, Texas, and investigation of a new North American integrated carbonates plant.
Commonly used in consumer electronics, lithium-ion batteries are becoming increasingly popular in military and aerospace applications and electric vehicles. High-quality ethylene carbonate and propylene carbonate, used as electrolyte solvents, are critical to the reliable operation and long working life of lithium-ion batteries. Huntsman is a world leader and innovator in high-purity cyclic carbonates, which it markets under its ULTRAPURE® brand.
Efficiency improvements at Huntsman’s Conroe plant will position the company to meet the lithium-ion battery market’s immediate and growing demand for electrolyte solvent.
“Our investment at Conroe further solidifies Huntsman’s position as the leading supplier of carbonate electrolyte solvents for the emerging lithium-ion battery market, not only in North America, but also globally,” said Stu Monteith, president of Huntsman Performance Products.
Monteith added that Huntsman Performance Products is also thinking about the market’s needs over the next three to five years, and is exploring a new carbonates manufacturing facility to produce cyclic and linear carbonates.
“We see global demand in the dynamic lithium-ion battery market continuing to grow,” Monteith said. “We are exploring a new carbonates plant that will enable Huntsman to meet the market’s quality and quantity demands by leveraging our extensive knowledge in ultra high-purity carbonates manufacture and our integrated raw material position.”
Huntsman Performance Products currently has 80 million pounds of carbonates capacity at its Conroe plant, and will continue to produce its full line of JEFFSOL® standard grade propylene, ethylene and glycerine carbonates.
For more information, please visit Huntsman’s Performance Products website at www.huntsman.com.
About Huntsman:
Huntsman is a global manufacturer and marketer of differentiated chemicals. Our operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2010 revenues of over $9 billion. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Forward-Looking Statements:
Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
Contact: Anne Knisely
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