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 [...]
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 [...]
SEOUL, May 19 (Korea Bizwire) — Lotte Chemical Corp. said Thursday it will spend a total of 10 trillion won (US$7.85 billion) by 2030 to boost its hydrogen and battery businesses as it ramps up the push for a green energy transition. The announcement follows a broader plan unveiled in March, in which it rolled [...]
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 [...]
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, [...]
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 [...]
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 [...]
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 [...]
SEOUL, Dec. 17 (Korea Bizwire) — Lotte Chemical Corp., a petrochemical unit of South Korean conglomerate Lotte Group, said Friday it will spend 250 billion won (US$211.4 million) to expand its domestic production line of ethylene oxide adduct (EOA), an advanced material used in concrete. The expansion of the production line in Daesan, a county [...]
SEOUL, Oct. 21 (Korea Bizwire) — Lotte Chemical Corp., a South Korean petrochemical company, said Thursday it will invest about 100 million euros (US$116 million) in a global hydrogen fund as part of efforts to ramp up its portfolio in clean energy. The investment will go to Clean H2 Infrastructure Fund, a fund created by [...]