Dow Announces Intent To Invest In New World-Scale Carbonate Solvents Facility In The U.S.; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Dow Chemical Company (NYSE:DOW) announced its plan to invest in a new world-scale carbonate solvents facility in the U.S. Gulf Coast to support the electric vehicle (EV) and energy storage markets. This facility, selected for award negotiations by the U.S. Department of Energy, aims to capture over 90% of CO2 from its manufacturing process, aligning with Dow's decarbonization strategy and the U.S. government's goals to reduce greenhouse gas emissions. The project is backed by agreements with leading EV manufacturers and electrolyte manufacturers, enhancing Dow's MobilityScience portfolio.
March 25, 2024 | 4:08 pm
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Dow Chemical Company plans to invest in a new facility for producing carbonate solvents, crucial for lithium-ion batteries in EVs and energy storage, capturing over 90% of CO2 emissions. This move, supported by the DOE, aligns with Dow's decarbonization strategy and is expected to strengthen its position in the EV supply chain.
Dow's investment in a new carbonate solvents facility is directly aimed at enhancing its product offerings for the EV and energy storage markets, a rapidly growing sector. The project's focus on CO2 capture and alignment with governmental decarbonization goals further strengthens Dow's market position and sustainability credentials. This strategic move is likely to be viewed positively by investors, potentially leading to a short-term positive impact on Dow's stock price.
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