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Dow exits Dow Kokam lithium battery venture

6:04 AM MST | December 6, 2013

Dow Chemical has sold its majority stake in Dow Kokam (Midland, MI), a maker of lithium-ion (Li-ion) battery cells, to MBP Investors, an affiliate of Townsend Ventures (Hunt Valley, MD), a partner in the joint venture. Terms have not been disclosed. Dow says it will focus on the materials portion of the battery value chain, not batteries themselves. Dow Kokam designs and manufactures large-format nickel manganese cobalt (NMC) Li-ion cells and systems for use in the fleet transportation, stationary storage, marine, defense, and industrial markets. The deal...

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