A joint venture formed by the Dow Chemical Co. has purchased the remaining assets of lithium battery manufacturer Kokam America Inc., Dow said on Nov. 12.
"The acquisition of these assets is a natural extension to Dow Kokam's existing capabilities," said Ravi Shanker, who was appointed president and CEO of Dow Kokam the same day. "Bringing the Kokam America expertise, patented manufacturing processes and existing facilities under the Dow Kokam franchise creates tremendous opportunity for Dow Kokam and brings application diversity to its portfolio."
Shanker previously served as corporate director of ventures and business development for Dow Chemical.
Kokam America is a Lee's Summit, Mo.-based manufacturer formed in October 2005 that has supplied battery sustainment to the U.S. Department of Defense with advanced battery products developed, designed and patented by Kokam Co., Ltd. in South Korea.
Through the acquisition of Kokam America's assets, Dow Kokam has the equipment and the capacity to manufacture a wide range of lithium polymer cells and extend its offering to the electric mobility industry, the company said.