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Cabot Corporation to Open New Battery Application Technology Center in Europe Focused on Supporting Customers and Accelerating Innovation in the Region
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Rhea-AI Summary
Cabot Corporation (NYSE: CBT) has announced plans to establish a new technology center in Münster, Germany, aimed at enhancing collaboration with customers in the battery materials sector. This facility will focus on accelerating application innovation and is expected to commence operations by April 2023, with further expansion anticipated by 2024. The center will support advancements in lithium-ion battery technologies and facilitate partnerships with battery manufacturers, reflecting a commitment to meet the growing demand for electric vehicles (EVs) and battery production, which is projected to grow by 50% annually over the next four years.
Positive
Establishment of a new technology center in Münster, Germany, focused on battery materials innovation.
Expected operational commencement by April 2023, with expansion planned for 2024.
Strategic initiative to strengthen partnerships with battery manufacturers and support the EV market.
Negative
None.
Investment will foster collaboration and drive technology developments to support growing demand for electric vehicle lithium-ion batteries
BOSTON--(BUSINESS WIRE)--
Cabot Corporation (NYSE: CBT) today announced its plans to establish a new state-of-the-art technology center in Münster, Germany. The new technology center will focus on technical collaboration with customers in order to accelerate application innovation for Cabot’s battery materials product lines within Europe. The new facility furthers Cabot’s investment plans to expand its global battery materials footprint and will play a critical role in Cabot’s continued delivery of world-class, innovative materials to customers in the Europe, Middle East, and Africa (EMEA) region and across the globe.
The new EMEA Technology Center will enable Cabot to enhance its battery materials development capabilities and continue to strengthen its technology engagements with other participants in the battery industry through enhanced collaboration and innovation with battery manufacturers, electric vehicle (EV) customers and partners in Europe. In addition, the center will feature advanced testing equipment to provide best-in-class technical application capabilities to serve the battery industry globally. The EMEA Technology Center is expected to commence operations by April 2023, with a planned expansion to be completed in 2024.
Cabot continues to develop innovative solutions for current and next-generation battery technologies such as high nickel cathode, silicon-containing anode, dry and aqueous electrode processing, and solid-state battery materials. Cabot has commercial sales with the top global battery producers and these innovations have further enabled Cabot to build strong partnerships with battery producers.
“We already have established conductive carbon additive (CCA) manufacturing and commercial capabilities in Europe, and our new EMEA Technology Center will enable us to collaborate more closely with our customers and offer faster development times and extensive testing and trialing in Europe,” said Shen Yi, vice president and general manager for Battery Materials. “This area represents an attractive choice to expand our battery R&D capabilities to support the enormous growth in battery and EV production throughout Europe while driving closer partnerships with battery producers and automakers. With battery production forecasted to grow approximately 50% annually over the next four years, our new EMEA Technology Center is well-positioned to support the immense growth in batteries and help accelerate the transition to EVs.”
The center will support developments for Cabot’s full range of CCA products, including conductive carbons, carbon nanotubes (CNTs), and carbon nanostructures (CNS), as well as blends and dispersions. CCAs play a critical role in lithium-ion battery chemistry and provide a pathway for electrons to move within the anode and the cathode which enables charging and discharging. The center will also support other Cabot product lines that support the battery market, including fumed alumina for separator and cathode coatings, and aerogel for thermal management.
“The new laboratory, with its close proximity to several of the foremost battery research institutions, local universities, and other technology companies in Europe, offers a premier site to build a collaboration ecosystem and attract talented scientists and engineers,” said Patricia Hubbard, senior vice president and Chief Technology Officer. “We have a strong culture of innovation and collaboration that is driven by a focus on customer success and developing innovative solutions to difficult problems. This new facility will allow us to better serve our customers, by providing them with access to cutting-edge technologies and the expertise of our talented team of engineers and scientists. With this center, we can better meet the unique requirements of our battery and EV customers across a range of critical battery applications.”
To further its battery material efforts in Europe, Cabot is also a member of the European Battery Alliance (EBA), which focuses on creating a competitive and sustainable battery cell manufacturing value chain in Europe. With a network of more than 800 participants covering the entire battery value chain, the EBA provides a unique platform for Cabot to engage with stakeholders from industry, government agencies, and academia to help Europe capture and supply the growing battery market.
Forward Looking Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2022.
What is Cabot Corporation's latest investment plan?
Cabot Corporation plans to establish a new technology center in Münster, Germany, to enhance collaboration in battery materials innovation.
When will the new EMEA Technology Center begin operations?
The new EMEA Technology Center is expected to commence operations by April 2023.
How does Cabot Corporation's new center support electric vehicle production?
The center will facilitate advancements in battery technologies, supporting the growing demand for electric vehicle production projected to increase by 50% annually.
What role will the new technology center play in Cabot's business strategy?
The center will enhance Cabot's battery materials development capabilities and accelerate collaboration with customers in the battery industry.
What type of technologies will Cabot develop at the new center?
Cabot will focus on technologies for lithium-ion batteries, including conductive carbon additives and advanced battery materials.
