On April 24, 2024, Asahi Kasei announced its plan to construct an integrated lithium-ion battery (LIB) separator manufacturing plant in Ontario, Canada, with a total investment of approximately ¥180 billion (around C$1.62 billion at the time of the announcement). The facility will produce Hipore™ wet-process separators used in lithium-ion batteries, with an annual capacity of approximately 700 million m² (as coated film), and is expected to commence commercial operations in 2027.

A basic agreement was signed with Honda Motor Co., Ltd. to explore joint investment in the project, with the aim of establishing a North American supply chain for high-performance batteries used in electric vehicles. To finance the project, Asahi Kasei Battery Separator Corp.—scheduled to be established in October 2024—will receive ¥28 billion (approximately C$252 million) in funding from the Development Bank of Japan (DBJ) through the issuance of preferred shares.

The capital will be provided to ES Materials Canada Corp. and E-Materials Canada Corp. via the North American holding company, ES Materials Holdings Corp. Asahi Kasei also expects to receive financial backing from the federal government of Canada and the provincial government of Ontario, supported by Invest Ontario and the Canada-Japan memorandum on battery supply chains signed in September 2023.

This investment aligns with Asahi Kasei’s “10 Growth Gears” strategy, targeting expansion in the North American EV market through advanced battery component manufacturing.