Huntsman Plans Increased Production of EV Battery Materials in Conroe, Texas
THE WOODLANDS, Texas, June 8, 2021 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today announced that its Performance Products division is planning to significantly increase its existing capacity for ULTRAPURE™ Ethylene Carbonate at its Conroe, Texas facility by mid-2023. ULTRAPURE™ Ethylene Carbonate is critical to the reliable operation and long working life of lithium-ion batteries for electric vehicles (EVs) and electronics.
In recent years, Huntsman has seen strong growth in ULTRAPURE™ Ethylene Carbonate tied to the evolution of EVs and the localization of lithium-ion battery production. To meet this increased demand, Huntsman has added a range of new high-purity grades of Ethylene Carbonate for EV battery applications.
"This capacity expansion will leverage our position as the only US producer of cyclic carbonates and support the rapid growth of the US and European lithium-ion battery markets for EVs," said Chuck Hirsch, Senior Vice President of Huntsman's Performance Products division. "We are committed to providing excellent service to our customers and are well positioned to grow with this sustainable industry, helping to reduce emissions in the transportation sector," he added.
ULTRAPURETM is a trademark of Huntsman Corporation or an affiliate thereof.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2020 revenues of approximately $6 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
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SOURCE Huntsman Corporation
Released June 8, 2021