LG Chem Is Targeting to Penetrate the Solar Panel Frame Market
LG Chem (KRX: 051910) has developed a plastic material that can replace the metal in solar panel frames for the first time in Korea and starts full-scale market penetration.
LG Chem announced that the Company has developed ‘LUPOY EU5201’, a PC/ASA flame retardant material that maintains the material shape even during temperature changes due to its low thermal expansion levels, using their proprietary technology and manufacturing method.
* PC/ASA: Engineering plastic with enhanced physical properties made by mixing ASA (Acrylonitrile Styrene Acrylate) resins with polycarbonate as a base
Solar panel frames are located at the edge of solar panels to protect and support the panel from external impact. Heat resistance and strong durability against corrosion are required as the materials are exposed outside for a long time, such as on exterior walls or the roof where there is direct sunlight. Solar panel frames account for about 10% of solar panels, and are mainly made of aluminum alloy.
The ‘LUPOY EU5201’, developed by LG Chem, is a high-performance engineering plastic material that supplements the mechanical properties of general plastics by adding glass fiber to polycarbonate compounds.
It has the same level of durability as existing aluminum, but is half the weight and has excellent price competitiveness. Also, it has excellent dimensional stability that maintains its shape even in temperature changes, so it is not easily deteriorated or deformed by the external environment. The chemical decomposition caused by ultraviolet rays exposure has been reduced, which has significantly improved the lifespan of the product compared to general plastics, and the color remains the same even after long-term exposure to ultraviolet rays.
If aluminum is replaced with LG Chem's new engineering plastic material, the weight of the solar panel is expected to decrease dramatically and material cost can also be reduced. This can bring increased convenience during transportation and installation.
LG Chem has PCR PC (Post-Consumer Recycled Polycarbonate) development technology that recycles plastics used by general consumers, so the Company can also produce eco-friendly low-carbon products using high-content PCR raw materials at the request of customers. The Company also plans to review ways to collect the solar panel frame that will be discarded in the future and reproduce them into PCR PC.
LG Chem has secured mass production capability during the first half of this year and started selling products in full-scale in the third quarter. Starting with the supply for solar panel frames, the Company plans to expand the application of materials to interior and exterior materials of automobiles in the future.
Steven Kim, Leader of the Engineering Materials Division at LG Chem, stated, “Solar panel frames made of plastic have many advantages that differentiate them from existing frames, such as ease of installation, and therefore have great market potential. Based on the world's best compounding technology, LG Chem plans to lead the rapidly growing solar material market through continuous R&D and investment into mass production capabilities.”
LG Chem declared ‘carbon-neutral growth by 2050’ last year, the first company to do so in the domestic petrochemical industry, and is promoting RE100, which produces products using renewable energy at all workplaces around the world. LG Chem plans to accelerate carbon-neutral growth through the transition to renewable energy and contribute to the development of renewable energy industry such as solar power through the development of LUPOY EU5201 product.
About LG Chem
LG Chem, Ltd. is Korea’s largest diversified chemical company which operates three main business units: Petrochemicals, Advanced Materials, Life Sciences. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic & battery materials and drugs & vaccines. Throughout multiple production facilities and an extensive distribution network, LG Chem strives to become a leading global company. For more information, please visit the LG Chem website at www.lgchem.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005318/en/
Contact information
LG Chem, Ltd.
Sangkyu Choi, Manager
+82-2-3773-7869
choisg@lgchem.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Nornir secures €30 Million capital commitment from Global Emerging Markets (GEM)8.12.2021 01:09:00 EET | Press release
The Norwegian deep tech company Nornir, today announced a $30 Million investment commitment from GEM Global Yield LLC SCS (“GEM”), the $3.4 Billion, Luxembourg based, private alternative investment group that focuses on emerging markets with offices in Paris, Nassau (Bahamas) and New York. Under the agreement, GEM will provide Nornir with a Share Subscription Facility of up to €30 Million for a 36 month term following the public listing of the Nornir common stock. Nornir will control the timing and maximum amount of each drawdown under the facility and has no minimum subscription obligation. Nornir's unique “Hive Mind” network technology operates in the AI driven Smart City and smart asset management industry; which is one of the fastest growing markets in the world expected to reach $100 trillion in 2021. The industry is morphing into the Internet of Things (IoT) era which opens up new markets and opportunities where digital assets become intelligent and embedded into various addition
Wordley Partnership: New Partner Appointments Bolster Insurance, Commercial Litigation, International Arbitration and Corporate Practice7.12.2021 22:49:00 EET | Press release
International law firm Wordley Partnership has appointed two new partners, Costas Frangeskides and Simon Schindler. The appointments boost Wordley Partnership’s Insurance sector and Commercial groups. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211207006028/en/ Costas Frangeskides (Photo: Business Wire) Brief biographies are enclosed below: Costas is based in London and joins from leading international practice Holman Fenwick Willan (HFW) where he had been a partner since 2002 and is highly experienced in insurance and reinsurance disputes, commercial law, and international arbitration. He has a proven track record and has handled many high-profile commercial and insurance disputes. Commenting on the appointments, managing partner Paul Wordley of Wordley Partnership said: "We are delighted to announce Costas and Simon joining our team. This demonstrates our continuing commitment and expertise in the insurance markets, and
New Data Reveals Social Presence and Engagement Key to Streaming Growth7.12.2021 21:42:00 EET | Press release
Roughly 80% of social engagement for streaming platforms comes from Instagram, with TikTok close behind thanks to accounts like Netflix growing by more than a million followers each month in 2021. This is according to the Social Guide for Streaming report from Conviva, the continuous measurement platform for streaming media, which examined social engagement for more than 87 global streaming platforms and 695 streaming TV shows from January 1, 2021 to October 21, 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211207005982/en/ Conviva’s State of Streaming: Social Guide for Streaming 2021 Publishers Report (Graphic: Business Wire) “A strong presence on social platforms like Facebook, Twitter and Instagram is critical for streaming publishers as it has been proven social is a key to content discovery,” said Keith Zubchevich, CEO, Conviva. “And, it’s not just about posting volume. The publishers that creatively and regularl
Andersen Global Strengthens European Platform with Addition of Collaborating Firm in Czech Republic7.12.2021 20:15:00 EET | Press release
Andersen Global enters into a Collaboration Agreement with Prague-based law firm rutland & partners, adding breadth to its platform in Europe. Rutland & partners, established in 2010 by Founding Partner Monika Rutland, focuses on corporate, real estate and M&A, providing legal services to businesses, foreign entities and private clients. Recognized by Chambers & Partners and The Legal 500, the firm offers full-service capabilities in litigation, employment, immigration, construction, pharmaceuticals and health care, banking, trust, and IT law. “Establishing long-lasting relationships and providing clients with quality, comprehensive solutions are integral aspects of our value-added service,” said Monika. “Our collaboration with Andersen Global further equips us to provide a seamless, integrated suite of services so clients can achieve their business objectives at the local and international levels.” Andersen Global Chairman and Andersen CEO Mark Vorsatz added, “rutland & partners compe
i2c Sets Industry Record with More Than 20 New Implementations Across 10 Markets in November7.12.2021 18:21:00 EET | Press release
i2c Inc., a leading provider of digital payment and banking technology, today announced it had deployed more than 20 new payment and digital banking programs for clients across 10 markets and four continents during the month of November alone. “The growth levels combined with the diversity of customers and programs we’re witnessing in our business today is a testament to our growth strategy and global team,” said Amir Wain, founder and CEO of i2c Inc. “We are thrilled to be the enabler of choice for visionaries in the payments and digital banking space as they work to accelerate financial innovation and expand access to millions of end users worldwide,” he said. i2c powers industry leaders in fintech, digital banking, cryptocurrency, as well as traditional financial institutions on a single, agile global platform. This fiscal half’s success includes new enterprise partners, as well as product and global program expansions for several U.S. and international programs, including: 1derful
Sunny Varkey Launches Tmrw, a New Learning Operating System (LearnOS) for Global Education to Bring a Quality Education Within Reach of Every Child7.12.2021 17:48:00 EET | Press release
Tmrw, a new and scalable Learning Operating System (LearnOS) for global education with a mission to help bring a quality education to every child, was launched this month. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211207005768/en/ Sunny Varkey, Chairman and Founder of Tmrw (Photo: Business Wire) Its interoperable All-In-One Integrated Platform is built to be accessible and affordable for Government funded schools operating in both the developed and developing world settings. In particular, it seeks to reach all students irrespective of their background or their ability to pay. It is designed to cater to the needs of every curriculum, context and mode of learning, whether brick and mortar, virtual or blended. Tmrw’s vision over time is to underpin learning, teaching, and the operational needs of K12 education, higher education and life-long learning. Sunny Varkey, who also founded the Global Teacher Prize, has ensured th
Nexo Expands Institutional Access to Crypto in Collaboration with Fidelity Digital Assets7.12.2021 17:30:00 EET | Press release
Nexo , the leading regulated institution for digital assets, today announced its collaboration with Fidelity Digital AssetsSM, a leading institutional focused execution and custody services platform provider, to revolutionize institutional access to digital assets by together offering best-in-class custodial and lending services, including the launch of innovative institutional-focused products. Nexo, a pioneer of cryptocurrency-collateralized credit, and Fidelity Digital Assets as custodian and collateral agent, will develop a comprehensive product suite and compliant infrastructure for institutional investors seeking exposure to digital assets. As a first step, the collaboration with Fidelity Digital Assets will expand Nexo’s ability to service and enhance its growing portfolio of assets under management and will provide an additional custody layer to Nexo’s military-grade security infrastructure. This latest development gives institutional investors who currently custody their digit
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom