Neenah Joins Soteria Battery Innovation Group Consortium

Rhea-AI Summary

Neenah has joined the Soteria Battery Innovation Group, a consortium of over 100 companies focused on enhancing battery safety through innovative technologies. This partnership aligns with Neenah's commitment to innovation in the lithium-ion battery sector, which is projected to grow from $41B in 2021 to over $110B by 2030. The company will leverage its expertise in nonwovens for fiber-based separator applications to meet diverse market needs. Neenah aims to drive value in growth markets while enhancing overall safety in battery technology.

Positive

• Partnership with Soteria Battery Innovation Group enhances Neenah's market position.
• Access to a growing lithium-ion battery market projected to reach over $110B by 2030.
• Utilization of Neenah's expertise in nonwovens to develop fiber-based separator applications.

Negative

• None.

ALPHARETTA, Ga.--(BUSINESS WIRE)-- Neenah, a leading global manufacturer of specialty materials, is announcing that it has joined the Soteria Battery Innovation Group (BIG), a consortium of 100+ companies representing different developers and users across the lithium-ion battery ecosystem. The consortium is committed to using new technology to bring safer batteries to the market, which aligns directly with Neenah's passion for innovation and the company's emphasis on safety.

Li-ion Battery (Photo: Business Wire)

Lithium-ion batteries continue to dominate the battery market, with projected growth from $41B in sales in 2021 to over $110B by 2030. Neenah will utilize its significant expertise in nonwovens to pursue fiber-based separator applications that can meet users' short and long-term needs.

"This partnership brings significant opportunities to leverage our existing technologies, and we continue to be excited to work with organizations that complement our capabilities and help drive value in our growth markets," said Bret Haldin, Vice President of Innovation for Neenah.

“Soteria’s technology and consortium are enabling a world where lithium-ion batteries and the devices they power are inherently safe,” said Brian Morin, CEO of Soteria BIG. “We are very excited to welcome Neenah as they bring their significant expertise in high-performance nonwovens to execute on this vision.”

About Neenah, Inc.

Neenah is committed to manufacturing growth for its customers, end-users, shareholders, and employees. With manufacturing facilities in North America, Europe, and the United Kingdom, we are a leading global manufacturer of specialty materials serving customers across six continents, with headquarters in Alpharetta, GA. We're focused on growing in filtration media, specialty coatings, engineered materials, and premium packaging. Our materials are found in various products used every day, such as transportation and water filters, premium packaging of spirits, technology and beauty products, industrial labels, tapes and abrasives, and digital printing for high-end apparel. To learn more, please visit www.neenah.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220120005774/en/

Missy Elam

Director, Corporate Communications

media@neenah.com

678-518-3263

Source: Neenah, Inc.

FAQ

What is the significance of Neenah joining the Soteria Battery Innovation Group?

Neenah's membership in the Soteria Battery Innovation Group allows it to collaborate with over 100 companies to innovate safer battery technologies, enhancing its position in the growing lithium-ion battery market.

What are the projected sales figures for the lithium-ion battery market?

The lithium-ion battery market is projected to grow from $41B in 2021 to over $110B by 2030.

How will Neenah leverage its technology through this partnership?

Neenah will utilize its significant expertise in nonwovens to pursue fiber-based separator applications that cater to both short and long-term market needs.