TOKYO, January 16, 2015_Ube Industries, Ltd. today announced that it is has made Advanced Electrolyte Technologies LLC into a subsidiary, in order to further strengthen its marketing of electrolytes for lithium-ion rechargeable batteries (LIBs).
The market for LIBs is growing, centering on applications for mobile phones, tablets and other portable consumer devices. In recent years, LIBs have begun to be used for automotive applications such as in hybrid and electric vehicles. Future applications include for energy storage systems and industrial applications, with demand for LIBs projected to grow.
Advanced Electrolyte Technologies was established in December 2011 by Ube Industries and The Dow Chemical Company, each with a 50% stake in the company. The company established a U.S. subsidiary, Advanced Electrolyte Technologies (USA) LLC, in December 2011 and a Chinese subsidiary, AET Electrolyte Technologies (Zhangjiagang) Co., Ltd., in June 2012, each for the manufacturing and marketing of electrolytes. These steps form part of the company's efforts to build a global manufacturing and marketing framework for electrolytes.
Ube Industries first brought functional electrolytes to market in 1997, leveraging its own organic synthesis technology and electrochemical expertise to improve battery performance by combining high-purity electrolytes with additives. Since then, Ube Industries has continued to expand its product lineup based on this concept. These functional electrolytes have played a critical role in enhancing the performance of LIBs and expanding the applications for them in the last few years.
The move by Ube Industries to make Advanced Electrolyte Technologies a subsidiary further ties together the management of the battery materials business of both companies, as they seek to further expand the business. Mainly in the field of the Lithium Ion Battery whose demand is expected to grow, Ube Industries will promote the further sales expansion and the cost reduction by the synergy between R&D, production, and sales.
|Name||Advanced Electrolyte Technologies LLC|
|Business Description||Manufacturing and marketing of electrolytes for lithium-ion rechargeable batteries (LIBs)|
|Capital Stock||US$ 95 million|
|President & CEO||Toshimitsu Takahashi|
|Previously Ube Industries||50%|
|Currently Ube Industries||70% (rising to 80.5% by end of fiscal 2014)|