Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, is continuing to assess plans to build and operate a world-class lithium-ion battery solvents plant at one of its petrochemical facilities in the U.S. Gulf Coast, including sourcing new license partners to speed up the development of the technology.

Indorama Ventures’ Integrated Oxides & Derivatives (IOD) business segment is exploring licensing opportunities with a range of technology partners, after withdrawing from an initial non-binding agreement with Capchem Technology USA Inc.

Entering the lithium-ion battery market will reinforce the company’s downstream specialty products portfolio, serving attractive end-market applications. Indorama Ventures is leveraging its global integrated petrochemicals model by investing in adjacent businesses that offer High Value Add (HVA) products that contribute to a more sustainable world.

Alastair Port, Executive President, Integrated Oxides and Derivatives (IOD), IVL, said, “The EV market is a significant opportunity for Indorama Ventures to leverage our world-class petrochemical assets in the U.S. Gulf Coast, which are ready to host a new world-class lithium-ion battery solvents plant. From our base near Houston, our Integrated Oxides & Derivatives business has a successful track record of working with technology license partners to benefit the high-growth North American market.”