The Dow Chemical Company recently hosted USA's Vice President Joe Biden at its corporate headquarters in Midland, Michigan, where Dow showcased several of the Company's major green tech initiatives that address global needs for alternative energy production and energy storage.
Dow's green tech initiatives, which have benefited from $750 million in federal and state economic incentives, are leading to breakthrough technologies, new manufacturing facilities and thousands of employment opportunities in the fields of sustainable energy solutions.
Dow showcased a number of new and innovative energy efficiency and insulation solutions at the event, which included the new DOW™ POWERHOUSE™ Solar Shingles - one of the best inventions of 2009 by Time Magazine and Dow's breakthrough diesel particulate filters, formulated to deliver better gas mileage and lower emissions from diesel engines.
Biden's visit to Dow in Midland coincided with a groundbreaking ceremony for a new manufacturing facility that will produce lithium-ion battery packs for next-generation hybrid and electric vehicles. The plant, being built by Dow Kokam, a joint venture between Dow and TK Advanced Battery, LLC, will employ more than 800 people and have the capacity to manufacture 1.2 billion watt hours of large format affordable lithium-ion batteries.
Dow also intends to continue its record investments in research and development (R&D), which is key to driving innovation, economic re-investment, and fulfillment of its public commitment to address world challenges through sustainable chemistry.
Significantly, Dow announced in November 2009 that its R&D and innovation pipeline is estimated to have a net present value of US$28 billion. In 2010, Dow plans to invest US$1.6 billion in over 500 R&D projects around the world. Since 2005, the Company has invested more than $9 billion in R&D to speed innovation, create jobs and transform Dow into an earnings growth company.
Dow has always taken the lead in partnering with key educational institutions around the globe to initiate R&D programmes that focus on finding solutions for the world's most pressing issues such as water treatment, alternative energy, and health challenges. Last year, Dow partnered with various institutions among which are National Chemical Laboratory, Pune, India, Chinese Academy of Sciences, Beijing, China, and the recent partnership with King Abdullah University of Science and Technology (KAUST) in Saudi Arabia. The partnership with KAUST will lead to creating a research framework that would focus on water treatment and processing technologies.