12:37 PM EDT, 03/25/2024 (MT Newswires) -- Dow (DOW) said Monday that it was picked by the Department of Energy's Office of Clean Energy Demonstrations for award negotiations to establish a carbonate solvents production facility for lithium-ion battery production on the US Gulf Coast.

The project will focus on boosting ethylene derivatives capacity, including the production of carbonate solvents, a key component of the electrolyte inside lithium-ion batteries, the company said.

The project is backed by agreements with electric vehicle original equipment manufacturers and electrolyte manufacturers.

Price: 57.43, Change: -0.25, Percent Change: -0.43