Tekna Plasma Systems Inc., Sherbrooke, Canada, and LG Chem Ltd., Seoul, Korea, have announced the signing of a multi-year joint development agreement to develop new materials that will improve the storage capacity and the cycle stability of lithium-ion batteries, Marketscreener.com reports. Both companies bring patented technology to the project, which will contribute to meeting the accelerating demand for high-performance Lithium-ion batteries, driven by the growing global need for energy storage.
The powerful combination of Tekna’s 30 years of expertise in plasma technology and LG Chem’s extensive knowledge of advanced materials will result in a new material for batteries. The benefits the partnership is seeking are higher storage capacity and improved cycle stability. By improving the batteries’ performance one can accelerate its adoption for new applications, such as electronic airplanes or power grids. Batteries is a clean substitute to both coal and fossil fuels.
This joint development agreement with Tekna has enabled LG Chem to further expand our business portfolio with eco-friendly products that can accelerate ESG initiatives and achieve sustainable growth.” said Jiyung Yu, the Executive Vice President and Chief Technology Officer of LG Chem.
“The Energy Storage segment is a key development area for Tekna and this joint development with LG Chem can form the foundation for a long-term partnership that has the potential to break new grounds in terms of enabling batteries with superior performances,” says Luc Dionne, CEO of Tekna Plasma Systems. “Tekna has been driving technology and manufacturing productivity improvement since 1990, and it is our ambition to innovate faster than any other company in the electronics and batteries space.”
Tekna and LG Chem’s development project is an active contribution to the UN Sustainable Development Goal on ensuring access to affordable, reliable, sustainable and modern energy for all. Energy efficiency and renewable energy like wind and solar are the cornerstones to the clean energy transition required to meet the goals of the Paris Climate Change Agreement. Improved battery capacity increases the possibility to store clean energy from windmills and solar cells, and is therefore key to the transition to a renewable-fueled world. It is also resource efficient as it reduces the volume of raw materials in manufacturing of batteries.
Under its Energy Storage segment, Tekna has developed the Si-nergy process, a cost-efficient method to produce silicon nano powders that are used in the manufacturing of Lithium-ion batteries. The use of silicon nano powders could increase the Lithium-ion batteries’ energy storage capacity by up to 60%, according to theoretical models.
About LG Chem
LG Chem, Ltd. is Korea’s largest diversified chemical company which operates three main business units: Petrochemicals, Advanced Materials, Life Sciences. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic & battery materials and drugs & vaccines. Throughout multiple production facilities and an extensive distribution network, LG Chem strives to become a leading global company. For more information, please visit the LG Chem website at www.lgchem.com.
About Tekna Holding AS
Tekna is a world-leading provider of advanced materials to industry, headquartered in Sherbrooke, Canada. Tekna produces high-purity metal powders for applications such as 3D printing in the aerospace, medical and automotive sectors, as well as optimized induction plasma systems for industrial research and production. With its unique, IP-protected plasma technology, the company is well positioned in the growing market for advanced nanomaterials within the electronics and batteries industries. Building on 30 years of delivering excellence, Tekna is a global player recognized for its quality products and its commitment to its large base of multinational blue-chip customers.