Kureha Corporation will team up with ITOCHU Corporation & Kuraray Company alongside Innovation Network Corporation of Japan (INCJ) to accelerate the growth of Kureha’s lithium-ion batteries business.

Kureha Battery Materials, a new subsidiary of Kureha will be formed with an investment of JPY20bn ($256m) for the global expansion of the battery business, with a focus on its CARBOTRON P battery materials technology for lithium ion batteries.

KBMJ president & chief executive officer Hideo Nakatani underscored that lithium-ion batteries are vital to addressing the challenges of energy and environmental industry.

"We see substantial opportunity and are pleased for the additional support, as we continue to expand our business and make our technologies available to more business partners worldwide," added Nakatani.

KMBJ is expected to employ these funds to establish a larger global supply structure for CARBOTRON P and Biocarbotron battery materials.