Dow, Ube target energy storage market with new venture

With an eye focused on the fast-growing energy storage market, Dow Chemical and Japan’s Ube Industries are launching a joint venture to make and sell electrolytes for lithium-ion batteries.

The 50-50 joint venture, Advanced Electrolyte Technologies LLC, is expected to be finalized later this year if it wins regulatory approval.

Dow’s Energy Materials business already offers a portfolio of products for the 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 center of the global mega-trends,” said Heinz Haller, Dow executive vice president and chief commercial officer.

A manufacturing facility for the joint venture is expected to be built at Dow’s Midland, Michigan, site and set to begin operations in 2012.