Asahi Kasei Battery Separator Corp., set to be established in October 2024, has reached an agreement to receive funding for the Canadian plant from the Development Bank of Japan Inc. (DBJ) via preferred shares. Additionally, financial support from both the federal government of Canada and the provincial government of Ontario is anticipated for this investment.

Asahi Kasei’s Energy Storage business, a key driver in its 2024 “Be a Trailblazer” plan, centers on the Hipore wet-process LIB separator. With over 40 years of innovation, it’s expanding into automotive sectors alongside consumer electronics. The new Canadian plant will be a key tool to meet North American demand for electric vehicle battery separators and integrate into local LIB supply chains, influenced by clean energy policies.

"The Hipore business will play an important role in Asahi Kasei’s growth over the medium term,” commented Hiroyoshi Matsuyama, Senior Executive Officer of Asahi Kasei. “Capturing market growth in North America will be essential for us. This partnership with Honda, having a rich track record in the North American automotive market and aggressively electrifying its vehicle lineup, allows us to make a meaningful contribution to improvement of lithium-ion-battery performance in light of anticipated growth in the electric vehicle market and the energy transition in North America.”

Asahi Kasei and Honda have agreed on the need for a stable supply chain for high-performance batteries in the growing North American electric vehicle market. They are exploring a joint venture to produce Hipore separators for batteries in Honda and other vehicles in this market.