Novolyte Technologies Awarded $20.6 Million in Stimulus Funds to Expand Plant Manufacturing Electrolytes for Vehicle Batteries
CLEVELAND, OH – AUG. 7, 2009 – Novolyte Technologies, Inc., a global producer of specialty chemicals including electrolyte solutions for the lithium, lithium ion, and ultracapacitor battery markets based in Cleveland, OH, has received a $20.6 million award in stimulus funds from the Department of Energy to expand its North American electrolytes plant in Baton Rouge, LA. The company has set up a new R&D facility at its headquarters for the further development of electrolytes and is working with the industry leaders in battery manufacturing to meet the future needs of the lithium battery industry.
Novolyte is currently the only North American company manufacturing electrolytes for lithium batteries and has been producing these products for more than 30 years at its Baton Rouge plant. The grant, obtained under the Recovery Act - Electric Drive Vehicle Battery and Component Manufacturing Initiative, is expected to add 30 engineering, technical, and skilled worker jobs at the expanded facility, and will create more than 100 construction jobs. Four positions have been added at the company's Cleveland research facility to support the development of new battery technologies. Novolyte built a manufacturing facility in Suzhou, China, in 2004 to serve the Asian battery market.
"We are excited about the opportunities in the lithium ion battery segment and the increasingly broad scope of use for lithium battery systems, including hybrid electric vehicles (HEV) and electric vehicles (EV)," said Ed Frindt, Novolyte CEO. "We believe we are well positioned to support the growing battery production capabilities in North America through our commitment to research and development and by expanding our existing manufacturing capabilities."
"We have the infrastructure, technology and know-how to help U.S. battery companies compete globally," noted Dr. Barry Misquitta, Vice President of Energy Storage for Novolyte. "Our current capacity is sufficient to support battery companies through the development phase, but we will need to greatly increase the size of our operations to meet the expected future need for electrolytes as lithium ion technology captures share in HEV and EV applications." Once completed, this expanded facility will have enough capacity to supply the amount of electrolyte necessary to make a minimum of 100,000 HEV or EV batteries.
An electrolyte is a colorless liquid inside the battery that is utilized to conduct electricity between the positive (cathode) and negative (anode) electrodes, thus making the electrolyte a high value, core component of the battery. Lithium ion batteries are superior to the nickel-metal hydride or lead-acid batteries currently used in HEVs because they offer enhanced characteristics, including higher voltage, greater energy density, and longer life, which allows an auto to be lighter weight and go farther. Novolyte markets its high-purity electrolytes under the Purolyte® brand.
About Novolyte Technologies, Inc.
Novolyte Technologies, Inc. was established as a stand-alone company in November of 2008 and was formerly the Fine Chemicals Group of Ferro Corporation. The business began operations in 1958 as Grant Chemical Company, Inc., based in Baton Rouge, LA. The company built its reputation on quality and service through custom manufacturing and established a loyal customer base by consistently meeting specific technical requirements.
Novolyte is one of the world's leading manufacturers of specialty electrolyte materials, high-performance solvents, aryl phosphines and technically demanding, custom manufactured products. Novolyte is the largest North American producer in primary and secondary lithium battery electrolytes as well as ultracapacitor solutions. The company also holds a substantial global market position.
Novolyte manufactures its electrolyte products from facilities located in Baton Rouge, LA and Suzhou, China. In addition to its production capabilities, Novolyte maintains technical centers in Cleveland, OH and Suzhou, China to perform engineering support and product development for its lithium ion battery customers' specific performance requirements.