LG Chem Accelerates Commercial Production of 100% Plant-Based Acrylic Acid

SEOUL, South Korea, Feb. 13, 2025 /PRNewswire/ -- LG Chem is entering the global market with eco-friendly raw materials derived from vegetable oils. The company announced that it will commence the production of bio-acrylic acid in the second quarter of this year. Production capacity shall ramp up to 100 metric tons (MT) of prototype annually. Bio-acrylic acid can be applied to various materials, including cosmetic ingredients that directly contact the skin, super absorbent polymers (SAP) for diapers, adhesives for electronics and vehicles, coating materials, and eco-friendly paints. Although attempts to develop bio-acrylic acid technology have been made worldwide, none have reached commercialization until now. LG Chem's bio-acrylic acid is made from 3-Hydroxypropionic acid (3HP), produced by microbial fermentation of plant-based raw materials. The product retains the same molecular structure and properties as conventional acrylic acid while being entirely plant-based. LG Chem developed its 3HP strain and fermentation technology in-house, earning the United States Department of Agriculture (USDA) Certified Biobased Product label, confirming it as 100% bio-based last year. Starting with prototype production, the company plans to actively promote the product to sustainability-driven companies in North America and Europe. The cosmetics industry, which increasingly demands plant-based and naturally derived ingredients without compromising functionality, is expected to be a key market for bio-acrylic acid. LG Chem plans to operate a customized bio-acrylic acid production system that can respond immediately to customer needs and is considering expanding production facilities if market demand increases. "We expect bio-acrylic acid to be an innovative product that meets the sustainability needs of our customers and the market. We will continue leading the development of eco-friendly technologies," said Song Byung-Keun, Senior Vice President and Head of Acrylates/SAP Business Unit at LG Chem. About LG Chem LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 48.9 trillion (USD 33.6 billion) in 2024. For more information, please visit www.lgchem.com. For media enquiries, please contact: Son Junil lgchempr@lgchem.com Liz Choi lgchempr@webershandwick.com

LG Chem Finds Key to Suppress Thermal Runaway in Batteries

SEOUL, South Korea, Oct. 1, 2024 /PRNewswire/ -- LG Chem announced today that its Platform Technology R&D team has developed a temperature-responsive Safety Reinforced Layer (SRL), a material designed to suppress thermal runaway. In collaboration with Professor Lee Minah's team from the Department of Battery Engineering at POSTECH, the material was analyzed, while safety verification was conducted in partnership with LG Energy Solution. The research findings were published online in the September edition of Nature Communications, one of the world's leading scientific journals. The thermal runaway suppression material developed by LG Chem is a composite material that changes its electrical resistance based on temperature, acting as a "fuse" that blocks the flow of electricity in the early stages of overheating. The research team created this thermal runaway suppression material in the form of a thin layer, just 1 micrometer (1μm) thick – about one hundredth the thickness of human hair – positioned between the cathode layer and the current collector (an aluminum foil that acts as the electron pathway) in the battery. When the battery's temperature rises beyond the normal range, between 90°C and 130°C, the material reacts to the heat, altering its molecular structure and effectively suppressing the flow of current. This thermal runaway suppression material is highly responsive to temperature, with its electrical resistance increasing by 5,000 ohms (Ω) for every 1°C rise in temperature. The material's maximum resistance is over 1,000 times higher than at normal temperatures, and it also features reversibility, meaning the resistance decreases and returns to its original state, allowing the current to flow normally again once the temperature drops. Thermal runaway, a leading cause of electric vehicle battery fires, occurs when the cathode and anode inside the battery unintentionally come into direct contact, causing a short circuit and generating heat. Within seconds, the temperature can rise to nearly 1,000°C, leading to a fire. The thermal runaway suppression material is expected to be effective in preventing fires by quickly blocking the reaction path at the early stages of overheating. In both battery impact and penetration tests, the batteries equipped with the thermal runaway suppression material either did not catch fire at all or extinguished the flames shortly after they appeared, preventing a full-blown thermal runaway event. In a penetration test involving mobile Lithium Cobalt Oxide (LCO) batteries, where a nail was used to puncture the battery, only 16% of regular batteries did not catch fire. However, none of the batteries with the thermal runaway suppression material experienced any fire incidents. In an impact test on Nickel Cobalt Manganese (NCM) batteries for electric vehicles, where a 10kg weight was dropped onto the batteries, all of the standard batteries caught fire. In contrast, 70% of the batteries equipped with the thermal runaway suppression material did not ignite at all, while the remaining 30% saw flames, but they were extinguished within seconds. While previous methods involved placing temperature-responsive materials inside the battery cell, they often faced issues with slow reaction times or reduced energy density. LG Chem, however, has successfully developed a material that resolves such issues, backed by their expertise and patented material design, allowing for rapid application in mass production processes. LG Chem has completed safety verification tests for the thermal runaway suppression material in mobile batteries and plans to continue safety testing for large-capacity electric vehicle batteries through next year. Lee Jong-Ku, CTO of LG Chem, stated, "This is a tangible research achievement that can be applied to mass production in a short period of time. We will enhance safety technology to ensure customers can use electric vehicles with confidence and contribute to strengthening our competitiveness in the battery market." About LG Chem LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value-added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 55.2 trillion (USD 41.6billion) in 2023. For more information, please visit www.lgchem.com. For media enquiries, please contact: Son Junil lgchempr@lgchem.com Liz Choi lgchempr@webershandwick.com

LG Chem Opens CS Center to Cover North American Region

LG Chem announces full-scale operation of customer solution (CS) center in Ohio, U.S., spanning 8,300 square meters over three floors LG Chem plans to expand and strengthen its presence in North America through synergies with its ABS compounds plants in Ohio SEOUL, South Korea, Aug. 29, 2024 /PRNewswire/ -- LG Chem announced today that it has inaugurated a new customer solution (CS) center dedicated to providing personalized support to its customers across North America. Located in the city of Ravenna, Ohio, the new CS center will stand as a specialized organization offering comprehensive technical solutions for product development, quality improvement and productivity enhancement for LG Chem's customers and suppliers. The grand opening ceremony was attended by key executives including Noh Kug-Lae, Head of Petrochemicals at LG Chem, and Frank Seman, Mayor of Ravenna. "We believe our customers are at the core of our business," said Shin Hak-Cheol, CEO of LG Chem, in his prepared congratulatory message. "We are committed to improving, inspiring and transforming the lives of our customers in every possible way." LG Chem has been constructing this center since September 2021 with an investment of approximately KRW 70 billion. The three-story building spans around 8,300 square meters and is equipped with mass-production extrusion and injection machinery. With the completion of the center, LG Chem plans to strengthen its presence in the North American market through synergies with its acrylonitrile butadiene styrene (ABS) compound plant, which began full-scale operation in Ohio in May. The North American market, which accounts for 10 percent of global ABS demand, has a low self-sufficiency rate and a strong preference for local companies and products. In particular, due to growth in the automotive and building materials industries, there is a steadily increasing demand for high-value ABS, known for its exceptional heat and weather resistance. Ohio's excellent advantages in logistics and transportation and proximity to LG Chem's major ABS customers make it a strategically favorable location for LG Chem to expand its presence in the North American region and strengthen its customer responsiveness. LG Chem is now operating CS centers across four countries/regions: Korea (Osan), China (Huadong, Huainan), Europe (Germany), and the U.S. (Ohio). About LG Chem LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 55.2 trillion (USD 41.6billion) in 2023. For more information, please visit www.lgchem.com. For media enquiries, please contact: Son Junil lgchempr@lgchem.com Liz Choi lgchempr@webershandwick.com

LG Chem Targets Sixfold Sales Growth in Battery Materials to KRW 30 Trillion by 2030

- Will expand sales portion in battery materials, sustainability business and innovative new drugs - Aims to accelerate in reaching net zero by 2050 by proactively building an integrated low-carbon management system SEOUL, South Korea, May 16, 2023 /PRNewswire/ -- LG Chem today announced its business strategy to leap up to become a top global battery materials company and its plans for its three new growth engines by 2030. LG Chem CEO Shin Hak-cheol said in a keynote speech at the BofA 2023 Korea & Global EV/EV Battery conference held at the Grand Hyatt Seoul on May 16, that LG Chem aims to grow its battery materials sales sixfold to KRW 30 trillion (USD 25.5 billion) by 2030, from KRW 4.7 trillion (USD 3.9 billion) in 2022. In detail, LG Chem's sales from the three sectors which the company is counting on to power its growth – battery materials, sustainability business and innovative new drugs – is expected to make up 57% of the company's total sales (by reaching KRW 40 trillion, or USD 30 billion) in 2030. The three areas accounted for 21% (with KRW 6.6 trillion, or USD 4.9 billion) of the company's sales in 2022. This will mark a turning point in LG Chem's business as it aims to become a "top global science company", shifting from a petrochemical-centric portfolio. "Despite under an emergency management amidst the never-before pandemic and geoeconomic conflicts, LG Chem has been proactively fostering new growth powers based on global megatrends and strategies on sustainability," said Mr. Shin from LG Chem. "You will be able to see and feel LG Chem's axis moving towards the next big three engines: battery materials, sustainability businesses and innovative new drugs." Breaking Through the Global Industry Transformation Era with Battery Materials, Sustainability Business and Innovative New Drugs 1. Battery materials: stepping up to a global leader with KRW 30 trillion (USD 25.5 billion) in sales by 2030 LG Chem plans to leap forward as the world's leading battery materials provider with KRW 30 trillion (USD 25.5 billion) in sales by 2030, backed by a compound annual growth rate of 26%. That said, LG Chem plans to cultivate its business in additional battery materials such as separators and carbon nanotubes (CNTs), in addition to the already-prominent cathode materials. LG Chem will also actively promote R&D efforts in new materials including pure silicon anode materials and solid-state battery electrolytes. 1A. Taking the lead in the cathode material sector: market, technology and metal sourcing In particular, LG Chem is set to secure its global leadership in high-nickel cathodes around three key areas – market, technology and metal sourcing. LG Chem plans to strengthen its market leadership by establishing a global quadrilateral production system, connecting Korea, China, U.S. and Europe, to make cathodes. This will help LG Chem expand its production capacity from 120,000 metric tons in 2023 to 470,000 metric tons by 2028. 40% of LG Chem's clients will be new global companies besides its subsidiary LG Energy Solutions. LG Chem will also tighten its technology leadership by expanding its high-nickel cathode product lineup for pouch-type and cylindrical batteries, mass-producing ultra-high-nickel cathodes with nickel content of 95% and extending the application of single crystal cathode materials technology in the sector. LG Chem is also actively considering expanding its offerings with cost-efficient cathode materials including high-voltage mid-nickel (Mid-Ni), lithium iron phosphate (LFP) and manganese-rich (Mn-Rich) to meet customer needs and target the growing mass market for electric vehicles (EVs). Furthermore, LG Chem is cementing its global partnerships to secure its metal supply chain. In China, North America, Australia and Korea, LG Chem is carrying out various initiatives such as establishing joint ventures (JVs) for precursors, signing lithium contracts, and making equity investments with major players including Huayou Cobalt, Piedmont Lithium and Korea Energy Management Cooperation (KEMCO). 1B. Expanding additional battery materials business including separators In the separator market, LG Chem plans to grow its footprint in the U.S. and European markets. To that end, LG Chem will join forces with Toray to weave its exclusive, world-class coating technology and the unique fabric technology of the Japanese materials company. LG Chem forecasts more business opportunities as separators are classified as battery components as per the U.S. Inflation Reduction Act (IRA). LG Chem also projects to pushfully expand its business in additional battery materials such as CNTs, anode binders and cathode dispersants by seeking opportunities for partnerships based on LG Chem's technological advantages. LG Chem's CNTs, for instance, has top-notch quality as it uses cobalt-based catalysts made with LG Chem's proprietary technology which helps lowering the content of magnetic impurities that can affect battery quality. In addition, LG Chem will actively explore growth opportunities based on innovative materials technologies such as pure-silicone (Pure-Si) anode materials, electrolytes for solid-state batteries and flame-resistant battery materials like aerogels. 2. Strengthening Sustainability Business LG Chem aims to take the lead in the industry's low-carbon business by accelerating the transition of its business structure around recycled, bio/biodegradable and renewable energy materials. Moreover, LG Chem targets to boost sales in this sector to KRW 8 trillion (USD 6.8 billion) by 2030 from KRW 1.9 trillion (USD 1.6 billion) in 2022. Based on its mechanical and chemical recycling technology capabilities, LG Chem is securing a diverse product portfolio to target the recycled plastics market, which is expected to reach KRW 100 trillion (USD 84 billion) by 2028. LG Chem is leading the mechanical recycling field. For instance, LG Chem has successfully commercialized the world's first white post-consumer recycled acrylonitrile butadiene styrene (PCR ABS), overcoming the disadvantage of fading colors. LG Chem is also building a strong portfolio with various products including polycarbonates (PCs), polyethylenes (PEs), polypropylenes (PPs) and polyvinyl chlorides (PVCs) and targeting consumer markets by supplying materials to companies that make products such as eco-friendly remote controls and set-top boxes. Chemical recycling is also an area which LG Chem is focusing on. Chemical recycling technology is, in fact, expected to be more marketable as it does not change the physical properties of the virgin material and has no limit on the number of times it can be recycled. In March, LG Chem started the construction of its first pyrolysis oil plant in Dangjin, Korea, which will be the nation's first plant using supercritical water technology and have an annual production capacity of 20,000 metric tons. In addition, LG Chem will complete building its demonstration plant for PC chemical recycling in 2026 based on its proprietary technology to secure leadership in the chemical recycling field. The bio/biodegradable materials market is expected to grow at an annual rate of more than 20%. This can be said based on the spreading global regulations on non-biodegradable single-use plastics and increasing customer demand for biodegradable materials. Starting from the first quarter of next year, LG Chem will be mass-producing polybutylene adipate terephthalates (PBATs) – a biodegradable material which quickly decomposes in nature by reacting to oxygen and heat. To tap the market for poly lactic acids (PLAs), LG Chem is also giving shape to its collaboration with Archer-Daniels-Midland (ADM), U.S.-based multinational leader in global nutrition. 3. Innovative new drugs: becoming a pharmaceutical company with five new FDA-approved drugs and sales of KRW 2 trillion (USD 1.65 billion) by 2030 LG Chem is rolling up its sleeves to become a global innovative pharmaceutical company with five new FDA-approved drugs and sales of KRW 2 trillion (USD 1.65 billion). To that end, LG Chem will continue commercializing new drugs by concentrating on oncology and metabolic therapeutics. In particular, the company has acquired AVEO, a U.S. company with an FDA-approved new drug FOTIVDA, to strengthen its business competitiveness in the U.S., the world's largest anti-cancer market. Moreover, the company is considering escalating the development of new oncology drugs and introducing promising new drug substances. Accelerating to Reach Net-zero by 2050 by Proactively Establishing Low-Carbon Management LG Chem aims to strengthen its global leadership in decarbonization and continue its sustainable growth. LG Chem is Korea's industry-first company to establish an integrated carbon management system that enables real-time support when making financial decisions such as reviewing profits/losses and evaluating investment priorities. With this system, LG Chem can calculate the amount of carbon the company will emit based on not just primary data such as production volume and energy sources, but more overall business plans including new/expanded facilities, investment, and production plans. Furthermore, LG Chem will establish a collaborative decarbonization model for its suppliers and proactively manage direct/indirect emissions (Scope 1 and 2) and all other indirect emissions (Scope 3). Since declaring its commitment towards carbon-neutral growth in 2019 for the first time in Korea's chemical business, LG Chem has been a leader in the sustainability sector through various initiatives such as announcing to switch to 100% renewable energy by 2050, raising the bar for net-zero achievement, conducting environmental lifecycle assessments (LCAs) for all products, and implementing internal carbon pricing systems. In addition, LG Chem is accelerating to include bio-based, recycled, and renewable energy materials to its business portfolio and become more low-carbon-focused. LG Chem has been steadily implementing strategies based on sustainability, such as establishing a closed-loop system for battery waste and promoting zero waste in landfill at all of its sites. "We have been making grinding efforts to revolutionize our overall business management system – we have reformed our business portfolio, established business processes based on digital transformation (DX), and reinforced operational capabilities of our offices in four major global regions," said Mr. Shin. "We will mature our groundwork for sustainable growth and speed up our grand transition into a global science company with three core businesses: battery materials, sustainability business, and innovative new drugs." About LG Chem LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 51.9 trillion (USD 42.1 billion) in 2022. For more information, please visit www.lgchem.com. For media enquiries, please contact: Son Junil lgchempr@lgchem.com Liz Choi lgchempr@webershandwick.com

LG Chem to Enforce Its Patent Rights in High-Nickel Cathode Battery Materials

- Aims at leading the global advanced battery market by enforcing its battery material patent rights to promote the development of the industry with global cathode suppliers SEOUL, South Korea, March 17, 2023 /PRNewswire/ -- LG Chem aims to enforce its battery material patent rights amid intensifying technological competition with the aim of dominating the global advanced battery market. LG Chem proposed to license out its high-nickel cathode material patent to China-based cathode material suppliers. To that end, LG Chem plans to enforce its patent rights against other global cathode material companies. Licensing refers to a contract in which the patent holder agrees to provide the right to use the patent to a third party and receive royalties in return. This makes it clear that LG Chem will not exclude the possibility of legal actions against any third-party infringers. The licensing offers were made to companies that mainly operate in the manufacture of high-nickel cathode materials. High-nickel cathodes are essential materials for high-performance EVs as they play a crucial role in increasing the energy density of batteries to extend the driving range. In March 2022, LG Chem, the world's first producer of nickel-cobalt-manganese (NCM) cathode materials, purchased more than 40 patents relating to high-nickel cathode material from Hanyang University, a private research university in Korea. Among them is a key 'orientation patent' that allows the driving range of EVs to increase by 20 to 30 percent, based on the structural characteristic of cathode materials. These patents are widely recognized in the relevant industry as essential to produce high-nickel cathode materials and registered in many countries, including Korea, China, U.S., and Europe. With this licensing, LG Chem expects to promote the development of the battery material industry with other global cathode material suppliers. By doing so, the company expects to generate new sources of profits as the demand for technology to produce key battery materials, such as high-nickel cathode, is expected to rise. According to SNE Research, a global marketing research firm, the global cathode materials market is forecasted to grow 233% from $35.6 billion this year to $82.9 billion in 2030. "LG Chem's high-nickel cathode materials patent plays a determinant role in the performance of lithium-ion batteries and is undoubtedly necessary for the advancement of the high-performance EV industry," said an LG Chem official. "We are willing to offer our patent portfolio to battery materials providers worldwide through various types of intellectual property business models." About LG Chem LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 51.9 trillion (USD 42.1 billion) in 2022. For more information, please visit www.lgchem.com. For media enquiries, please contact: Son Junil lgchempr@lgchem.com Liz Choi lgchempr@webershandwick.com

LG Chem to Enforce Its Patent Rights in High-Nickel Cathode Battery Materials as EV Demand Rises

- Aims at leading the global advanced battery market by enforcing its battery material patent rights to promote the development of the industry with global cathode suppliers SEOUL, South Korea, March 17, 2023 /PRNewswire/ -- LG Chem aims to enforce its battery material patent rights amid intensifying technological competition with the aim of dominating the global advanced battery market as demand for electric vehicles (EVs) continues to rise. LG Chem today proposed to license out its high-nickel cathode material patent to China-based cathode material suppliers. To that end, LG Chem plans to enforce its patent rights against other global cathode material companies. Licensing refers to a contract in which the patent holder agrees to provide the right to use the patent to a third party and receive royalties in return. This makes it clear that LG Chem will not exclude the possibility of legal actions against any third-party infringers. The licensing offers were made to companies that mainly operate in the manufacture of high-nickel cathode materials. High-nickel cathodes are essential materials for high-performance EVs as they play a crucial role in increasing the energy density of batteries to extend the driving range. In March 2022, LG Chem, the world's first producer of nickel-cobalt-manganese (NCM) cathode materials, purchased more than 40 patents relating to high-nickel cathode material from Hanyang University, a private research university in Korea. Among them is a key 'orientation patent' that allows the driving range of EVs to increase by 20 to 30 percent, based on the structural characteristic of cathode materials. These patents are widely recognized in the relevant industry as essential to produce high-nickel cathode materials and registered in many countries, including Korea, China, U.S., and Europe. With this licensing, LG Chem expects to promote the development of the battery material industry with other global cathode material suppliers. By doing so, the company expects to generate new sources of profits as the demand for technology to produce key battery materials, such as high-nickel cathode, is expected to rise. According to SNE Research, a global marketing research firm, the global cathode materials market is forecasted to grow 233% from $35.6 billion this year to $82.9 billion in 2030. "LG Chem's high-nickel cathode materials patent plays a determinant role in the performance of lithium-ion batteries and is undoubtedly necessary for the advancement of the high-performance EV industry," said an LG Chem official. "We are willing to offer our patent portfolio to battery materials providers worldwide through various types of intellectual property business models." About LG Chem LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 51.9 trillion (USD 42.1 billion) in 2022. For more information, please visit www.lgchem.com. For media enquiries, please contact: Son Junil lgchempr@lgchem.com Liz Choi lgchempr@webershandwick.com