Cabot Corporation (NYSE: CBT), a leading global specialty chemicals and performance materials company, has been selected by the U.S. Department of Energy (DOE) to participate in an $80 million investment in advanced vehicle technologies research. Cabot will leverage its novel process technology to contribute to the research and development of low-cobalt active cathode formulations for next-generation lithium-ion batteries.
Cobalt is an expensive, foreign sourced critical material that could pose a supply risk in the future. Research projects such as Cabots are designed to explore more sustainable, affordable options, and ultimately improve access to electric vehicle technology.
We are honored to be selected to participate in this important initiative, said Patricia Hubbard, chief technology officer, Cabot Corporation. We are excited to leverage our battery materials manufacturing expertise to expand our existing presence in the batteries and energy materials market. This project will help drive sustainability, innovation and new technologies, which are all crucial elements of our long-term strategy and vision.
The DOE is investing in a total of 42 projects to support advanced vehicle technologies that can enable more affordable mobility, strengthen domestic energy security, reduce dependence on foreign sources of critical materials, and enhance U.S. economic growth. Of the $80 million, nearly $32 million has been allocated for battery and electrification initiatives, including $2.9 million for Cabots research in aerosol manufacturing technology for low-cobalt lithium-ion battery cathodes.
Cabot already has an established presence in batteries through our conductive additive formulations and aluminas for cathodes and separators, explained Miodrag Oljaca, technology director, Cabot Energy Materials. We are eager to leverage our novel process technologies and battery materials expertise to drive further innovation for next generation batteries, with the goal of enabling low-cobalt or no-cobalt cathode formulations. This work will also help enable the production of low-cost, sustainable batteries for electric vehicles, energy storage and other applications.
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Cabot will partner with researchers at Argonne National Lab and SAFT for this project. Argonne will assist in the synthesis of low-Cobalt cathode compositions, while SAFT will assist in the manufacture of batteries to validate performance of novel low-Cobalt cathode formulations.
To learn more about how Cabots solutions are helping to deliver increased performance and durability, while at the same time reducing total system cost, visit cabotcorp.com/batteries.
ABOUT CABOT CORPORATION Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, masterbatches and conductive compounds, fumed silica and aerogel. For more information on Cabot, please visit the companys website at: http://www.cabotcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot’s business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K.
Erin Caron, 617-342-6257
Steve Delahunt, 617-342-6255