Dow Chemical 2011 Annual Report Download - page 20

Delivering Breakthrough
18 The Dow Chemical Company
Dow innovations are making a difference to address some of the
world’s leading challenges – bringing farmers higher crop yields,
helping convert solar energy into an effi cient source of electricity,
and enabling more energy-effi cient appliances.
In 2011, we commercialized a number of game-changing
technologies across our portfolio.
• We are bringing innovative encapsulant fi lms to the global
solar energy market, enabling more power to be generated
over the life of the solar panel. Our new ENLIGHT™
Polyolefi n Encapsulant Films help solar module
manufacturers reduce their conversion costs and get more
powerful performance from their designs. Our innovative
encapsulant fi lms improve cell protection, resulting in better
reliability and electrical effi ciency, and potentially extending
the service life of photovoltaic modules. They also offer
faster cycle times and more fl exible lamination conditions
during processing. ENLIGHT Polyolefi n Encapsulant Films
are based on our world-class polyolefi n technologies and
leverage Dow’s considerable fi lms manufacturing know-how.
In addition, Dow can custom-tailor polymer structures to
develop fi lm formulations that address customer needs.
• Customer intimacy and a keen understanding of market needs
led to the invention of our EVOQUE™ Pre-Composite
Polymer Technology, which recently achieved its fi rst
sales. This revolutionary and patented technology is built on
a fundamental understanding of how polymer and pigment
particles interact and bond. Dow scientists discovered a way
to make functionalized latex particles selectively adsorb to
the surface of titanium dioxide (TiO2), which is the primary
white pigment used in paint. These interactions form polymer-
pigment composites that are more evenly distributed in the
paint fi lm as it dries. More even distribution of TiO2 enhances
light-scattering effi ciency and facilitates making paint with up
to 20 percent lower TiO2 requirement. As a result, formulators
have more options for managing raw material costs and
improving paint performance.
• Our investments in advanced lithium-ion battery
technology are contributing to the mobility of tomorrow.
In 2011, we announced a joint venture with Ube Industries,
Ltd., named Advanced Electrolyte Technologies (AET), that
will manufacture formulated electrolytes for lithium-ion
battery cell manufacturers. AET plans on constructing a
manufacturing facility with the capacity of producing 5,000
tons of electrolytes per year at Dow’s Michigan Operations
in Midland. Production start-up is planned for late 2012,
which is expected to coincide closely with Dow Kokam’s
Midland Battery Park opening. AET also plans to construct
manufacturing facilities in China and Europe. The addition of
formulated electrolytes complements Dow Energy Materials’
integrated portfolio of lithium-ion battery components, which
help cell manufacturers produce batteries with extended
run times, safer performance and increased power and
operational life.
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R&D Pipeline Valuation
NPV ($ in billions)
10
2007
5
1997
17
2008
Preservation
Advanced Materials Division
Agricultural Sciences
Performance Materials
Performance Plastics
Feedstocks and Energy
Corporate and New Businesses
30
2010
33
2011
28
2009
2011 Pipeline Valuation by Stage
($ in billions)
Exploration
19.4
2.8
Development
5.3 3.6
Implementation
8.2 6.8
Preservation
NPV
Risk-Adjusted NPV