21 June 2010 16:28 [Source: ICIS news]
HOUSTON (ICIS news)--A Dow Chemical joint venture has started building a lithium-ion battery plant in Michigan, the company said on Monday.
When completed, the plant could make enough large-format lithium-ion batteries to produce 1.2bn watt hours/year, said Dow Kokam, the joint venture.
That much electricity could power 60,000 electric vehicles/year, assuming each has a 20 kW hour system, Dow Kokam said.
The plant will cover 800,000 square feet (74,400 square metres) and employ 800 people, the company said.
The first phase will have a capacity to produce 600m watt hours and employ 320 people, Dow Kokam said.
Dow Kokam is spending $322m (€258m) on the first phase, and a grant from the Department of Energy (DOE) will pay for another $161m, the joint venture said.
The state of Michigan has provided $180m in tax incentives.
The company will produce prismatic lithium-ion batteries, which Dow Kokam said produce up to three times more energy than nickel metal hydride (NiMH) batteries.
Dow Kokam was created in 2009 by Dow, TK Advanced Battery and Groupe Industriel Marcel Dassault.
TK Advanced Battery is a division of private-equity firm Townsend Capital.
Groupe Industriel is the holding company of the Dassault Group.
($1 = €0.80)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections