LG Chem recently announced that it will invest 65 billion South Korean won ($54 million) by Q1 of next year to add 1,200 tons of carbon nanotube (CNT) production capacity to its Yeosu, South Korea plant. Once the expansion is made, the company will have a total production capacity of 1,700 tons.

LG Chem says its making the new investment not only to target the global EV market, but also the growing CNT market for anode conductive additives in lithium-ion batteries, which can increase the batteries’ energy density and lifespan.

Plans are also in place to develop a variety of new uses for CNTs, such as gang form (large casts for construction), semi-conductive layer inside high-voltage cable sheaths, high-strength concrete for architecture, etc, and commercialize it in the market.

Noh Kug-lae, VP of LG’s petrochemicals unit, said, “We must lead the market with distinguished technologies and products to survive in the global materials competition. We will become a dominant market leader in the next-generation high-value materials, including CNTs.”

Source: LG Chem