LG to Invest $7 Billion in Green Business

LG announced it will invest $6.83 billion in green business sectors by 2015.

The conglomerate says the investments - in electric vehicle batteries, LED lighting, solar PV and water treatment technologies - will generate $8.4 billion in revenue, while creating 10,000 green jobs around the world. It will also boost business for about 660 small and midsized enterprises in its supply chain.

About a third of the investment will be in lithium batteries for electric vehicles (by 2013). It's also planning to get into the solar polysilicon business by 2014.

Its LG Chem division says its goal is to be the world's top lithium battery manufacturer, taking a 25% share by 2015. It currently supplies Li batteries for GM's Chevy Volt and Opel Ampera. And it's working with GM on electric vehicle development.

LG Innotek, which makes LEDs, is looking for a 10% global market share. Its vertical manufacturing process makes all the components including chips, modules and packaging.

Its flagship company, LG Electronics, will expand solar manufacturing from its current level of 300 megawatts (MW) to 1,000 megawatts by 2014. There too, they expect to be the global leader by 2015. They entered the US solar market in 2010.

In water treatment, LG recently acquired specialist Daewoo ENTEC, allowing it to offer a "total water treatment solution." Through the LG-Hitachi joint venture, the two compaies will collaborate on developing new technologies and services for the huge water treatment market, valued at over $430 billion a year.

Last year, LG announced it would invest $17.8 billion in green product development to lower greenhouse gas emissions 40% from 2009 levels by 2020.

Its competitor, Samsung, is also invest heavily in green with $5 billion in investments by 2013.

South Korea has set an emissions reduction target of 30% by 2020. At the beginning of the worldwide recession, the country was widely praised for allocating about 80% of its stimulus spending toward green-oriented projects.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Today Philips Lumileds launches its proprietary CrispWhite Technology, yet another quality of light breakthrough in its portfolio, making whites appear vivid and bright while colors appear saturated. LUXEON CoB arrays with CrispWhite Technolog... READ MORE

For the first time there is a compact laser multi-chip package. Osram Opto Semiconductors can pack up to 20 blue laser chips in the new PLPM4 450 module. Instead of taking the laborious approach and constructing a light source from individual ... READ MORE