General
Lotte Chemical to invest $502 million to expand specialty materials business
Plans to build a plant to produce organic solvents – high-purity ethylene carbonate (EC) and di-methyl carbonate (DMC) – for electrolytes, a key material for lithium-ion batteries
- By ICN Bureau
| February 08, 2022
Lotte Chemical Corp. is planning set to spend 602 billion won ($501.5 million) in building eco-friendly materials plants at one of its petrochemical complexes in the country.
The company has agreed with a local government to invest in a battery electrolyte organic solvents factory as well as carbon capture and utilization (CCU) facility at its petrochemical complex in Daesan, about 140 kilometers southwest of Seoul.
“This investment is a key step in ‘Green Promise 2030’ to expand eco-friendly and specialty chemical materials such as battery electrolyte organic solvents and carbon dioxide capture projects,” Lotte’s basic materials business head Hwang Jingu said in a statement.
Lotte plans to build a plant to produce organic solvents – high-purity ethylene carbonate (EC) and di-methyl carbonate (DMC) – for electrolytes, a key material for lithium-ion batteries. South Korea totally relies on imports for organic solvents that make up about 30% of the electrolytes’ total cost.
The company decided to set up a facility that captures and liquefies 200,000 tons of carbon dioxide with a target of commercialization in the second half of 2023. The carbon dioxide processed in the facility will be used as materials for the high-purity EC and DMC, as well as sold as materials for semicon-ductor cleaning liquid.
In addition, Lotte will expand the production capacity of ethylene oxide adduct, a high-value-added construction material, to 480,000 tons a year from 330,000 tons.
Register Now to Attend Gujarat Chem & Petchem Conference 2025 on May 8-9th 2025, at Hyatt Place, Bharuch
Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2025 on June 18-19th 2025, The Leela Mumbai
