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Asahi Kasei’s Board of Directors has today adopted a resolution to add capital to ES Materials Holdings Corp. (ESM), a wholly owned subsidiary of Asahi Kasei, in order to add capital to E-Materials Canada Corp. (EMC) through its parent company, ES Materials Canada Corp. (ESC), a wholly owned subsidiary of ESM, related to Asahi Kasei’s Hipore™ lithium-ion battery (LIB) separator business (The Capital Increase).

Purpose of The Capital Increase
Asahi Kasei’s Group Mission is contributing to life and living for people around the world, and its Energy Storage business aims to contribute to the world’s carbon neutrality considering new ways of using energy. Energy Storage is one of Asahi Kasei’s “10 Growth Gears” (GG10) businesses to drive future growth as designated in its medium-term management plan for fiscal 2024 focused on the theme “Be a Trailblazer,” with earnings growth projected over the medium-to-long term.

The core of the Energy Storage business is Hipore™ wet-process LIB separator, whose sales are expanding mainly in automotive applications. To meet North American demand for separator for electric vehicles and to join North American LIB supply chains being established as an effect of governmental clean energy policies, the decision was made to execute The Capital Increase for establishing an integrated production base for Hipore™ separator, including the membrane production process and coating process, and to purchase land and begin plant construction in Canada.

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