Trinseo and Ferroglobe Sign Memorandum of Understanding to Improve Electric Vehicle Battery Performance
Entering a joint development partnership for silicon anode solutions in high-performance lithium-ion batteries
LONDON, UK/WAYNE, PA.--(Korea Newswire) December 06, 2022 -- Trinseo PLC (NYSE: TSE) and Ferroglobe PLC (NASDAQ: GSM) today announced the signing of a Memorandum of Understanding (MOU) to jointly develop high-silicon anode solutions for electric vehicle (EV) batteries.
Rapid global growth of the EV market, the need for more sustainable and higher energy-density materials, and a looming graphite shortage are driving demand for a new generation of efficient EV batteries. Trinseo and Ferroglobe aim to meet this need by optimizing battery charge cycles with novel, high-silicon anode solutions, pushing the known limits of battery performance.
“Trinseo is a recognized global leader in anode binder solutions for lithium-ion batteries. By teaming up with Ferroglobe, we are building on that legacy and investing in solutions primed to meet the urgent needs of the EV battery market,” said Andre Hugentobler, Global New Business Development and Technology & Innovation Director, Latex Binders, Trinseo. “This partnership combines our companies’ expertise and two key components required for high-cycle silicon anodes - the active silicon material and the binder - to deliver superior solutions more quickly.”
“Ferroglobe is committed to becoming the industry’s leading global supplier of high-purity silicon powder. We are producing a critical material to leverage the energy transition and our partnership with Trinseo sets the stage for accelerated innovation that will drive performance improvements for EV batteries,” said Dr Benoist Ollivier, Chief Technology & Innovation Officer at Ferroglobe.
Ferroglobe’s proprietary purification technology delivers high-purity silicon powder of up to 99.995%, in micrometer and sub-micrometer sizes, for batteries and other advanced technologies, actively participating in new clean technologies and mobility markets. Trinseo brings decades of experience serving the automotive industry and designing high-performance binders, backed by a differentiated anode binder portfolio, global manufacturing centers, and dedicated research and application development assets.
Under the MOU, both parties expect to invest additional resources into anode research and application development, fund third-party programs, and collaborate with industry leaders, battery makers, and automotive OEMs to develop and commercialize anode technology. Full-scale joint development activities are expected to launch later this year.
Ferroglobe is one of the world’s leading suppliers of silicon metal, silicon- and manganese-based specialty alloys, and other ferroalloys serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. The Company is based in London. For more information, visit Ferroglobe website and engage with Ferroglobe on LinkedIn.
Trinseo (NYSE: TSE), a specialty material solutions provider, partners with companies to bring ideas to life by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for customers.
In 2021, Trinseo reported net sales of approximately USD 4.8 billion with 3,400 employees around the world. Discover more by visiting Trinseo website and connecting with Trinseo on LinkedIn, Twitter, Facebook and WeChat.
Cautionary Note on Forward-Looking Statements
This press release may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like “expect,” “anticipate,” “intend,” “forecast,” “outlook,” “will,” “may,” “might,” “see,” “tend,” “assume,” “potential,” “likely,” “target,” “plan,” “contemplate,” “seek,” “attempt,” “should,” “could,” “would” or expressions of similar meaning. Forward-looking statements reflect the evaluation by management of both Ferroglobe and Trinseo of information currently available and are based on the current expectations and assumptions regarding our business, the economy and other future conditions of both Ferroglobe and Trinseo. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause future results to differ from those expressed by the forward-looking statements include, but are not limited to, our ability to successfully execute our transformation strategy and business strategy; our ability to integrate acquired businesses; global supply chain volatility or increased costs or disruption in the supply of raw materials; increased energy costs or costs for transportation of our products; the nature of investment opportunities presented to the Company from time to time; and those factors discussed in our Annual Reports on Forms 20-F and 10-K, under “Risk Factors” and elsewhere in the other reports, filings and furnishings made by both Ferroglobe and Trinseo with the U.S. Securities and Exchange Commission from time to time. As a result of these or other factors, our actual results may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. Neither Ferroglobe nor Trinseo undertakes any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
Ferroglobe Website: http://www.ferroglobe.com
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