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Lotte Chemical to Invest Additional 140 bln Won to Expand Battery Materials Plant

Lotte Chemical to Invest Additional 140 bln Won to Expand Battery Materials Plant

SEOUL, June 29 (Korea Bizwire) — Lotte Chemical Corp. said Wednesday it will spend an additional 140 billion won (US$108.4 million) to expand its electrolyte solvent factory in South Korea to produce four core electrolyte materials vital to the fabrication of lithium-ion batteries. Lotte Chemical said it will push to produce ethyl methyl carbonate (EMC) [...]

Lotte Chemical Considering Building Electrolyte Solvent Factory with Sasol

Lotte Chemical Considering Building Electrolyte Solvent Factory with Sasol

SEOUL, June 20 (Korea Bizwire) — Lotte Chemical Corp. said Monday it is pushing to build an electrolyte solvent factory overseas with a U.S.-based chemical company as it seeks to bolster its battery components business. It signed an agreement with Sasol Chemicals LLC, the American unit of South African petrochemical firm, Sasol Ltd., last week [...]

Lotte Chemical, SK Gas to Set Up Hydrogen Joint Venture

Lotte Chemical, SK Gas to Set Up Hydrogen Joint Venture

SEOUL, June 3 (Korea Bizwire) — Lotte Chemical Corp., the petrochemical unit of South Korean conglomerate, said Thursday it will establish a joint venture with SK Gas Co., a liquefied petroleum gas (LPG) importer and distributor, for power generation with by-product hydrogen and hydrogen-powered transportation. The joint venture will be established in the third quarter of this [...]

KEPCO Teams Up with POSCO, Lotte Chemical to Establish Hydrogen Ecosystem

KEPCO Teams Up with POSCO, Lotte Chemical to Establish Hydrogen Ecosystem

SEOUL, May 4 (Korea Bizwire) — South Korea’s state utility Korea Electric Power Corp. (KEPCO) has launched an initiative to create a hydrogen ecosystem, including the commercialization of hydrogen and ammonia power generation, through a collaboration with private companies. KEPCO recently signed a memorandum of understanding with Lotte Chemical Corp. and POSCO Holdings Inc. to expand cooperation [...]

Lotte Chemical Signs US$200 mln Deal with U.S. Firm to Make EV Battery Components

Lotte Chemical Signs US$200 mln Deal with U.S. Firm to Make EV Battery Components

SEOUL, April 27 (Korea Bizwire) — Lotte Chemical Corp. said Wednesday it has signed an initial deal with a U.S. startup to produce advanced battery materials for electric vehicles, as the company pushes to pivot to the battery materials business. Under the memorandum of understanding signed with Soelect Inc., a North Carolina-based battery component maker, [...]

Lotte Chemical Eyes 50 tln Won in Sales by 2030 with Hydrogen, Battery Materials Drive

Lotte Chemical Eyes 50 tln Won in Sales by 2030 with Hydrogen, Battery Materials Drive

SEOUL, March 31 (Korea Bizwire) — Lotte Chemical Corp. said Thursday it aims to generate 50 trillion won (US$41.3 billion) in sales by 2030 from hydrogen energy, battery materials and plastic recycling as it seeks to make inroads into green businesses amid the industrywide transition to sustainable growth. The ambitious goal unveiled by the petrochemical [...]

Lotte Chemical to Invest 602 bln Won in Advanced Materials Biz

Lotte Chemical to Invest 602 bln Won in Advanced Materials Biz

SEOUL, Feb. 7 (Korea Bizwire) — Lotte Chemical Corp., the petrochemical unit of South Korean conglomerate Lotte Group, said Monday it is spending 602 billion won (US$502 million) to boost its advanced materials business, including building a new factory for electric vehicle battery materials. The company said it will spend about 233 billion won to [...]

Lotte Chemical Unveils US$3.9 bln Petrochem Complex in Indonesia

Lotte Chemical Unveils US$3.9 bln Petrochem Complex in Indonesia

SEOUL, Jan. 7 (Korea Bizwire) — Lotte Chemical Corp., the petrochemical unit of South Korean conglomerate Lotte Group, said Friday it is spending US$3.9 billion over the next three years to build a petrochemical complex in Indonesia. Lotte Chemical signed a preliminary deal with Indonesia’s Ministry of Investment on the Line project aimed at constructing [...]