LG Chem is a chemical manufacturer and subsidiary of South Korean conglomerate LG Corp. The company is a Category Award Winner in three areas in the 2023 Awards due to its investments into manufacturing and recycling capacity, and the development of a new plastic materials for EV batteries.
One of the company’s most notable highlights during the research period was its announcement of the development of a highly heat resistant plastic, which it says can significantly delay thermal runaway in lithium-ion batteries used in electric vehicles.
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The company’s in-house tests showed the material prevented flame propagation for over 400 seconds above 1,000 degrees, 45 times longer than general flame-retardant plastics, allowing more time for the safe evacuation of vehicle occupants in the case of a battery fire. The material is also said to have superb dimensional stability, maintaining its shape despite extreme temperature changes.
LG Chem also made several notable investments during the research period. These included announcing a fourth manufacturing facility for carbon nanotubes (CNT), which are seen as a vital component in future battery production. The new facility in Daesan, will have a production capacity of 3,200 tons of CNT per year. The company also announced a new factory in Clarksville in Tennessee to produce battery cathodes containing nickel, cobalt, manganese, and aluminum.
Staying in North America, LG Chem announced plans to establish a battery recycling joint venture with Jae Young Tech. The company has developed an efficient in-house process to extract high-purity lithium from lithium waste, including end-of-life electric vehicle (EV) batteries.
Company Profile
LG Chem is a chemical manufacturer and subsidiary of LG Corp.
The company manufactures and markets petrochemicals, IT and electronic materials, and energy solutions. Its product portfolio comprises polyvinyl chloride (PVC), ethylene, propylene, butadiene, benzene, polarizer, glass substrate, semiconductor materials and RO membranes, among others.
It also offers growth hormone, vaccine, anti-diabetic products, and manufactures and supplies display and battery materials for LCD photoresist, OLED materials, battery materials and others.
It owns and operates manufacturing facilities in Daesan, Yeosu, Ochang, Cheongju, Ulsan, Naju, Iksan, Paju, and Gimcheon. The company has operations in China, India, Germany, the US, Vietnam, Brazil, Taiwan, Hong Kong and Poland, among others.
The company is headquartered in Seoul, South Korea.
