Huntsman Plans Increased Production of EV Battery Materials in Conroe, Texas

Rhea-AI Summary

Huntsman Corporation (NYSE: HUN) announced plans to expand its ULTRAPURE™ Ethylene Carbonate production capacity at its Conroe, Texas facility by mid-2023. This expansion responds to rising demand in the lithium-ion battery market, crucial for electric vehicles (EVs) and electronics. Huntsman is the only US producer of cyclic carbonates and has seen significant growth in this sector. The company aims to support the expanding US and European markets while enhancing service to its customers and contributing to reduced emissions in transportation.

Positive

• Significant capacity expansion of ULTRAPURE™ Ethylene Carbonate planned for mid-2023.
• Huntsman is the only U.S. producer of cyclic carbonates, positioning it favorably in the market.
• Strong growth in ULTRAPURE™ Ethylene Carbonate tied to EV market evolution.

Negative

• None.

THE WOODLANDS, Texas, June 8, 2021 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today announced that its Performance Products division is planning to significantly increase its existing capacity for ULTRAPURE™ Ethylene Carbonate at its Conroe, Texas facility by mid-2023. ULTRAPURE™ Ethylene Carbonate is critical to the reliable operation and long working life of lithium-ion batteries for electric vehicles (EVs) and electronics.

In recent years, Huntsman has seen strong growth in ULTRAPURE™ Ethylene Carbonate tied to the evolution of EVs and the localization of lithium-ion battery production. To meet this increased demand, Huntsman has added a range of new high-purity grades of Ethylene Carbonate for EV battery applications.

"This capacity expansion will leverage our position as the only US producer of cyclic carbonates and support the rapid growth of the US and European lithium-ion battery markets for EVs," said Chuck Hirsch, Senior Vice President of Huntsman's Performance Products division. "We are committed to providing excellent service to our customers and are well positioned to grow with this sustainable industry, helping to reduce emissions in the transportation sector," he added.

ULTRAPURE^TM is a trademark of Huntsman Corporation or an affiliate thereof.

About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2020 revenues of approximately $6 billion.  Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.

Social Media:
Twitter: www.twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman

Forward-Looking Statements:
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.

 

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SOURCE Huntsman Corporation

FAQ

What is Huntsman's plan for ULTRAPURE™ Ethylene Carbonate?

Huntsman plans to significantly increase its ULTRAPURE™ Ethylene Carbonate production capacity at its Conroe, Texas facility by mid-2023.

Why is Huntsman increasing production of ULTRAPURE™ Ethylene Carbonate?

The increase is in response to rising demand for lithium-ion batteries used in electric vehicles and electronics.

What is the significance of Huntsman being the only U.S. producer of cyclic carbonates?

Being the only U.S. producer allows Huntsman to leverage its position to capture growth in the lithium-ion battery market.

How does the expansion impact Huntsman's market strategy?

The expansion supports Huntsman's strategy to grow within the sustainable EV industry and enhance customer service.

When is the production capacity increase expected to be completed?

The increased production capacity is expected to be operational by mid-2023.