The Dow Chemical Company is organizing a new business that will manufacture advantaged battery materials for the energy storage industry. With an initial focus on the automotive market, Dow will sell advantaged materials that will enable manufacturers of rechargeable lithium ion batteries to produce batteries with extended run times, increased power and operational life, with equal or enhanced safety performance than what is commercially available today.
Improving battery performance in the energy storage industry is a critical need that will significantly shift the behavior and dynamics of the industry, thereby creating strong opportunities for chemistry-enabled materials solutions, Dow says.
Estimates of the energy storage industry project growth from $24 billion today to $74 billion by 2020, with the largest growth opportunity in the automotive market.
Dow is committed to meeting the short- and long-term needs of the energy storage industry with a comprehensive and multi-generational commercial materials strategy.—Monty Bayer, global business director, Dow Ventures & Business Development, Licensing and Venture Capital
Federal stimulus funds channeled toward domestic development of electric vehicle technology has created an opportunity to strengthen the energy storage industry in the US, which is currently based in Japan and Korea. The combination of unmet technical needs, stimulus for rapid growth in vehicle electrification, and geographic shift creates unique opportunities for Dow. Dow anticipates sales to begin in 2012.
Dow’s capabilities and relationships span the value chain from material science to battery manufacture and key end use markets.