Townsend Ventures' affiliate MBP Investors has acquired
The Dow Chemical Company
) all ownership interest in Dow Kokam LLC. With this acquisition,
MBP now holds the majority ownership of Dow Kokam, which includes
the Midland Battery Park in Michigan and the Lee's Summit
facility in Missouri.
TK Advanced Battery LLC (an affiliate of Townsend), KA Founders
LLC and Groupe Industriel Marcel Dassault own the remaining
ownership in Dow Kokam.
Dow's move to divest its Dow Kokam interest is in sync with its
focus on applying market participation strategy and investment
prioritization decisions. Dow is targeting selected end-use
markets to accelerate value creation, deliver long-term,
sustainable growth and boost shareholders value. Moreover, Dow's
current focus is on improving the materials portion of the
battery value chain rather than focusing on batteries themselves.
MBP's decision to buy Dow's interest in Dow Kokam is in line with
its owner Townsend's global strategy to continue investing in and
providing leadership and support to emerging technologies in the
energy storage market. Overall, the transaction is a strategic
fit for both Dow and Townsend.
Dow Kokam designs and produces large-format nickel manganese
cobalt (NMC) lithium-ion cells and systems that offer advanced
battery solutions with energy, power, lifetime, safety and cost
advantages. It also provides high-performance advanced energy
storage solutions to a wide spectrum of customers in the fleet
transportation, stationary storage, marine, defense and
The Midland Battery Park facility of Dow Kokam is one of the
highest capacity and large-format lithium ion battery
manufacturing plants globally.
Maryland-based Townsend is a private investment firm. In the last
35 years, Townsend and its affiliates have successfully invested
in a wide range of real estate and operating companies. Other
than in Dow Kokam, Townsend has invested in other associated
businesses, including Energy Power Systems and AllCell
Dow currently carries a Zacks Rank #3 (Hold).
Other companies in the chemical industry worth considering
Asahi Kasei Corp.
Johnson Matthey plc
). All of them carry a Zacks Rank #1 (Strong Buy).
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