LOTTE Chemical to participate in CES2023 in the US,

■Participated in CES2023 in the US for the first time since its establishment… to exhibit CCU, VIB ESS, and eco-friendly specialty materials technology in the Seoul Pavilion.
■Expanding the sustainable initiatives of LOTTE Chemical in 2023… Completed acquisition of Iljin Materials to expand the 4th generation battery business and secure advanced hydrogen technologies for market dominance.

LOTTE Chemical will showcase its CCU technology and future battery material VIB ESS, as well as eco-friendly specialty materials at CES 2023, the world's largest international electronics exhibition held in Las Vegas from January 5 to 8 (US local time).

They have announced that they will participate in the Seoul Pavilion operated by the Seoul Metropolitan Government and SBA, along with eight promising startups with advanced technologies, to introduce future technologies to global customers. LOTTE Chemical expects its CCU technology, which uses gas separation membranes for the first time in the domestic chemical industry, to reduce emissions trading costs, facilitate business expansion through technology acquisition, and enhance ESG management through global carbon neutrality measures.

Since 2020, LOTTE Chemical has been conducting pilot operations to verify the performance of gas separation membranes for carbon capture. Based on the data and operating technology collected and analyzed during the pilot process, the company is now pushing for the commercialization of the membrane-based carbon capture system at its Daesan plant, making it the first global chemical company to do so.

VIB ESS, which is being showcased to visitors, is a battery that uses water-based electrolyte to fundamentally block the risk of combustion. It is attracting attention as the next-generation battery for energy storage systems (ESS) with growth potential in various fields such as industrial and household use. LOTTE Chemical has secured a 15% stake (approximately KRW 65 billion investment) as a major shareholder in Standard Energy, a vanadium-ion battery manufacturer, and is building various cooperative partnerships.

Meanwhile, LOTTE Chemical’s Vice Chairman Kyohyun Kim said in his New Year's message for 2023, " The year 2022 was a dynamic year preparing for a new future, even amidst the most challenging business environment since our establishment." He added, "In 2023, To ensure the competitiveness of our existing business in the future, fundamental restructuring of the business structure is necessary to develop new products in line with changing trends and to preemptively respond to regulations for stable profits."