PPG INDUSTRIES, INC.

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PPG, Cellforce Group to Develop Sustainable Battery Solutions

01/13/2022 | 11:09am EDT

PPG (NYSE:PPG) today announced that it has partnered with Cellforce Group, which is a joint venture between Porsche and CUSTOMCELLS, to develop exclusive sustainable battery cell solutions to better serve the electric vehicle and mobility segment.

PPG will supply cathode binder systems, which are free of N-Methylpyrrolidone (NMP) solvent, to the Cellforce Group. The collaboration would eliminate the use of NMP in producing the conductive-carbon slurry that forms cathodes for Li-ion batteries. NMP, which is widely used in electrode manufacturing, has been identified as a reproductive hazard by several global regulatory agencies and was recently identified by the U.S. Environmental Protection Agency (EPA) as an “unreasonable risk” to workers in certain conditions.

“PPG is eager to partner with the Cellforce Group to build the next generation of battery cell technology that will define a new level of sustainability for the electro-mobility segment,” said Markus Vogt, PPG general manager of mobility. “Additionally, the partnership enables collaboration to provide critical technology development to increase cell performance and safety.”

PPG is helping vehicle, battery and component manufacturers accelerate the development of tomorrow’s automotive energy storage solutions. The company’s broad-based materials expertise covers virtually every area of Li-ion battery design and construction, helping customers boost energy density, extend service life, improve safety, increase manufacturing throughput and reduce cost per kilowatt hour.

PPG’s dedicated team of mobility professionals provides differentiated solutions for automotive electro-mobility, such as sustainable binder solutions for the battery cell and coating solutions for the battery pack that include battery fire protection, anti-corrosion coatings for battery packs/trays, dielectric shielding and thermally conductive materials.

About the Cellforce Group:

The Cellforce Group initially develops and produces high-performance lithium-ion pouch cells for special automotive applications. Porsche AG holds a 72.7 percent stake in the company, with Customcells holding the remaining shares. The managing directors are Markus Gräf as Chief Operating Officer (COO), Wolfgang Hüsken as Chief Financial Officer (CFO) and Torge Thönnessen as Chief Technology Officer (CTO). By 2025, the workforce is expected to grow from 23 employees at present to around 100.

PPG: WE PROTECT AND BEAUTIFY THE WORLD™

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 75 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.

CATEGORY Automotive OEM Coatings


© Business Wire 2022
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Financials (USD)
Sales 2022 18 417 M - -
Net income 2022 1 501 M - -
Net Debt 2022 5 546 M - -
P/E ratio 2022 20,1x
Yield 2022 1,92%
Capitalization 29 366 M 29 366 M -
EV / Sales 2022 1,90x
EV / Sales 2023 1,75x
Nbr of Employees 49 300
Free-Float 40,5%
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Last Close Price 124,33 $
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Michael H. McGarry Chairman & Chief Executive Officer
Vincent J. Morales Chief Financial Officer & Senior Vice President
David S. Bem CTO, Vice President-Science & Technology
Bhaskar Ramachandran Chief Information Officer & Vice President
Timothy M. Knavish Chief Operating Officer
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