Lotte Chemical to take part in CES for first time

South Korea's Lotte Chemical Corp. for the first time will take part this month in CES, the world's largest information technology and home appliance exhibition, to show its carbon capture and utilization (CCU) technology, vanadium ion battery energy storage system (VIB ESS) and know-how in eco-friendly specialty materials.

The company on Tuesday said it will participate in the event at Seoul Tech Pavilion run by the Seoul Metropolitan Government and Seoul Business Agency along with eight promising startups.

Lotte Chemical is developing CCU technology using gas separation membranes, a first for a domestic chemical company. Carbon capture facilities using such membranes have simpler processes and emit less environmental pollution than those using wet and dry capture methods. Eyeing the launch of commercial production from this year's second half, the company is building a facility with a capacity of 200,000 tons at its Daesan plant in Seosan, South Chungcheong Province.

VIB ESS, a battery that blocks the risk of ignition by using water-based electrolytes, has gained attention as a next-generation ESS product that is expected to see growth in an array of sectors like industry and home.

A Lotte Chemical source said, "This is the year we establish our leadership in sustainability management," adding, "We will finalize our takeover of Iljin Materials to fully launch operations in the four major materials for batteries and build a competitive advantage through securing advanced hydrogen technology."

Write to Seo-Woo Jang at suwu@hankyung.com