Dow Steps Back From Electrolyte Venture

Japan’s Ube Industries is increasing its stake in Advanced Electrolyte Technologies, a partnership with Dow Chemical that formulates electrolytes for lithium-ion battery manufacturers. The partnership was formed as a 50-50 joint venture in 2011. Ube’s stake today is 70%, and the company plans to raise it to 80.5% by the end of March. The partnership built plants in Midland, Mich., and China in 2013. Dow reported a $10 million charge related to the joint venture in 2013. That same year, Dow exited its Dow Kokam battery partnership in Midland. Ube, in contrast, is boosting its investment in battery materials. Next year it plans to establish a materials R&D center in Sakai City, Japan. Employment will start at 50 and eventually increase to about 250, the firm says.