LOTTE Chemical Builds First Anode Film Production Base in the US

■ Goal to complete by first half of 2025 with an anode film production capacity of 36,000 tons...

   Founding of joint venture through the joint investments of LOTTE Chemical’s US battery materials corporation,

   LOTTE Battery Materials USA Corporation, and LOTTE Aluminum’s US corporation, LOTTE ALUMINUM USA    

■ Demand for batteries expected to grow rapidly in the US due to increased demand for eco-friendly EVs, etc...

   Accordingly, demand for anode film, which is a core material for batteries, is expected to increase by about 32% in 2030 compared to ‘22    

■ Contribute to the localization of K-batteries as a reliable materials partner for domestic battery manufacturers entering overseas markets...

   Up-close customer support in quality, supply, delivery stability, etc. through local joint venture       

■ LOTTE Group Chemical Unit President Kim Gyo-hyun, “We will actively respond to market changes based on synergy with chemical unit materials

   companies and focus our capacities on quickly pursuing the battery materials business”

The LOTTE Group Chemical Unit announced that it established a local venture near Elizabethtown, Kentucky to preoccupy the eco-friendly EV battery materials market in the rapidly growing US market. 

‘LOTTE ALUMINIUM MATERIALS USA’ will be established through an investment of approximately 330 billion KRW paid 100% by subsidiaries of LOTTE Chemical and LOTTE Aluminum in the US, and this will be the first anode film production base in the US. 

For this, LOTTE Battery Materials USA Corporation of LOTTE Chemical and LOTTE ALUMINUM USA of LOTTE Aluminum will participate by investing 70% and 30%, respectively, and this is meaningful in that cooperation is being made so that two core subsidiaries within the group’s chemical unit will preoccupy the future market.  

LOTTE ALUMINIUM MATERIALS USA plans to contribute to the localization of K-battery companies as a reliable materials partner for Korean battery manufacturers to enter overseas markets through prompt customer support involving quality, supply, and delivery stability. 

Through this investment, LOTTE Chemical will newly enter the anode film materials business following the lithium battery material of electrolyte organic solvent and separator materials, and LOTTE Aluminum announced that following the anode film plant at the Tatabánya industrial complex in Hungary, it will also enter the US market, thus having the opportunity to preoccupy the relevant materials market for both Europe and the US, which are the top hubs for the EV market. 

LOTTE Group Chemical Unit President Kim Gyo-hyun commented, “We will focus on technological development and support to stably produce high quality and highly efficient anode films to be able to respond to customer needs quickly,” and added, “We will focus our capacities on quickly pursuing the battery materials business while actively respond to market changes based on our synergy with the materials business in the chemical unit.”

Anode films are one of the four major components of lithium-ion batteries, and in addition to supporting active anode materials, it also serves as a pathway for electrons, thus making it an essential material that helps with emitting internal heat inside of electrons with its high thermal conductivity.