PR97234

THE WOODLANDS, Texas, Aug. 2, 2022 /PRNewswire=KYODO JBN/ --

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical

company, has entered into a non-binding agreement with Capchem Technology USA

Inc. (Capchem USA) to study the opportunity to build and operate a world-class

lithium-ion battery solvents plant at one of IVL's petrochemical facilities in

the U.S. Gulf Coast. The proposed plant will supply the lithium-ion batteries

industry in North America, which is boosted by significant growth in the

development of electric vehicles (EV).

The proposed facility will produce ethylene carbonate and its chemical

derivatives, which are essential components of the electrolytes solutions used

in lithium-ion batteries. IVL's Integrated Oxides and Derivatives (IOD) segment

and Capchem USA, a subsidiary of Shenzhen Capchem Technology Co., Ltd., will

study the proposal to develop and operate the plant. Capchem is a global

leading company in lithium-ion battery chemicals. It would significantly

benefit the North American lithium-ion battery market, which currently depends

on imports from Asia amid potential for accelerated growth in the EV industry.

Entering the lithium-ion battery market as a competitive new player reinforces

IOD's transition towards downstream specialty products, increasing IVL's

opportunities in attractive end-market applications. Under its Vision 2030

ambition, IVL is building on its global integrated petrochemicals model through

investing in adjacent businesses that offer High Value Add (HVA) products which

contribute to a more sustainable world.

The study will assess the opportunity to build a plant using Capchem's

established technology to produce ultra-pure ethylene carbonate, di-methyl

carbonate, ethyl methyl carbonate, di-ethyl carbonate and derivatized

electrolyte solutions. The study also includes an option to build a second

module to meet expected growing market demand.

The key raw materials for the proposed new plant, namely purified ethylene

oxide and carbon dioxide, will be supplied from IVL's integrated supply network

as part the company's strategy to enhance end-market exposure, technologies,

and downstream portfolio breadth. The sequestered carbon dioxide used in the

process has a positive sustainability impact.

Alastair Port, Executive President, Integrated Oxides and Derivatives (IOD),

IVL, said, "IVL is constantly looking for ways to enhance our sustainability

programs towards our vision of creating a more sustainable world. This mutual

study with Capchem USA not only helps us to achieve that, but also supports the

adoption of zero-emission electric mobility. Given our proven operational

excellence, highly skilled workforce, world-class infrastructure, and access to

captive raw materials, we believe we are well-placed to successfully implement

the technology, which will help to reduce North American EV manufacturers'

reliance on imports."

About Indorama Ventures

Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker

IVL.TB), is one of the world's leading petrochemicals producers, with a global

manufacturing footprint across Europe, Africa, Americas, and Asia-Pacific. The

company's portfolio comprises Combined PET, Integrated Oxides and Derivatives,

and Fibers. Indorama Ventures products serve major FMCG and automotive sectors,

i.e., beverages, hygiene, personal care, tire and safety segments. Indorama

Ventures has approx. 26,000 employees worldwide and consolidated revenue of

US$14.6 billion in 2021. The Company is listed in the Dow Jones Emerging

Markets and World Sustainability Indices (DJSI). Indorama Ventures is

headquartered in Bangkok, Thailand with more than 140 manufacturing sites in 35

countries.

Media Contacts

Stuart Kelly                                 　　　　　　　Patricia Sakamiti

Global Head - Corporate Communications,     　 IVL  Americas Head - Corporate

                                            　　　　　　　　　　 communications, IVL

Tel: +662.661.6661 ext. 508                  　　　　Tel: +55 11 99266.5233

stuart.k@indorama.net                       　　　　　 patricia.sakamiti@oxiteno.com

SOURCE: Indorama Ventures