Energy News  
ENERGY TECH
South Korea's LG Chem to build $3.2 bn US cathode plant
by AFP Staff Writers
Seoul (AFP) Nov 22, 2022

South Korea's LG Chem signed an agreement with the US state of Tennessee to build a $3.2 billion cathode materials plant for electric vehicle batteries, the company said Tuesday.

The plant will be capable of producing 120,000 tonnes of cathodes a year by 2027, enough to power 1.2 million pure electric vehicles, LG Chem said in a statement.

Covering 1.7 million square metres (420 acres), the facility will be the "largest of its kind in the United States", it added.

Cathode, a key component in rechargeable batteries, is made up of nickel, lithium and other materials, and comprises around 40 percent of the cost of electric vehicle batteries.

Tennessee was the "best choice" for LG Chem owing to its "proximity to key customers", ease of transporting raw materials and active government cooperation, the company said.

"The Tennessee facility allows LG Chem to proactively address the changing dynamics of the global battery material market and with legislation such as the Inflation Reduction Act (IRA)."

The IRA, signed into law by US President Joe Biden in August, requires certain percentage of critical minerals used in EV batteries to be from the United States or its free trade partners.

Construction of the plant will begin next year, with mass production set to start in 2025.

The Tennessee site will "play a critical role" in LG Chem's strategy to increase its battery materials business including cathode material fourfold from 5 trillion won ($3.7 billion) in 2022 to 20 trillion by 2027, the company said.

LG Chem's shares ended up 0.7 percent in Seoul trading Tuesday, as the wider market fell.


Related Links
Powering The World in the 21st Century at Energy-Daily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


ENERGY TECH
Engineers solve a mystery on the path to smaller, lighter batteries
Boston MA (SPX) Nov 22, 2022
A discovery by MIT researchers could finally unlock the door to the design of a new kind of rechargeable lithium battery that is more lightweight, compact, and safe than current versions, and that has been pursued by labs around the world for years. The key to this potential leap in battery technology is replacing the liquid electrolyte that sits between the positive and negative electrodes with a much thinner, lighter layer of solid ceramic material, and replacing one of the electrodes with solid ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

ENERGY TECH
Ottawa rolls out CAN$1.6 bn plan to adapt to climate change

Ukraine battles to restore power after latest Russian barrage

Joy at 'historic' climate damages deal

COP27 agrees to fund climate damages, no progress on emission cuts

ENERGY TECH
Generating electricity from tacky tape

Great potential for aquifer thermal energy storage systems

POWER aims to create revolutionary power distribution network

South Korea's LG Chem to build $3.2 bn US cathode plant

ENERGY TECH
Intelligent drones to make wind turbines far more efficient

Nine countries join alliance to boost offshore windpower

UAE, Egypt ink major wind energy deal on COP27 sidelines

US to offer leases for Pacific offshore wind energy platforms

ENERGY TECH
Europe's space agency reviewing space-based solar power

Simple semiconductor solutions could boost solar energy generation and enable better space probes

New insights into energy loss open doors for one up-and-coming solar tech

Sidus Space engages GTM Advanced Structures to integrate space-proven solar panels into LizzieSat

ENERGY TECH
Ukraine nuclear plants cut from grid after strikes: operator

Ukraine nuclear plants reconnect to grid after strikes: ministry

French regulator approves state bid to renationalise power giant

Kyrgyzstan mulls building nuclear plant with Russian help

ENERGY TECH
NASA and industry advance jet engines and sustainable fuel compatibility

New project will design first Danish reactor for carbon negative hydrogen production from biogas

Biofuel on the road to energy, cost savings

Project Fierce fuels the future of synthetic jet fuel generation

ENERGY TECH
Saudi to host China-Arab summit in early December: consul

Gas-flush Algeria to ramp up defence spend in 2023

Rice lab's catalyst could be key for hydrogen economy

Researchers create green fuel with the flip of a light switch

ENERGY TECH
Joy, relief at 'historic' climate damages deal

COP27 summit strikes historic deal to fund climate damages

Australia aims to host 2026 UN climate summit

No way to run a COP: climate summit host Egypt gets bad marks









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.