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JIOS Aerogel® Secures New Investment from MegaChem to Fund its Aerogel and Thermal Blade® Plants
SINGAPORE, Sept. 18, 2023 /PRNewswire/ — JIOS Aerogel has secured significant investment from MegaChem (Thailand) PCL, "MGT", and MegaChem Limited, "MegaChem", to fund the launch of its plants in Singapore, catering to the growing demand for its technology in electric vehicle (EV) batteries.
The funding will support JIOS Aerogel's two plants in Southeast Asia: its aerogel production facility and its new Singapore site for fully automated production of its Thermal Blade®. The company is expanding its manufacturing capabilities to meet the needs of automakers in Europe, North America, and Asia Pacific, who require ultra-thin, compressible insulation for EV battery cells.
Stephen Kang, Co-Founder and Managing Director of JIOS Aerogel, enthusiastically expressed, "We are thrilled to welcome MGT and MegaChem as investors, further bolstering the burgeoning aerogel market within the electric vehicle battery industry. As seasoned global solution providers, they have demonstrated a keen understanding of both the immediate demand and the significant growth prospects associated with incorporating aerogels into the electrification of transportation."
JIOS Aerogel's cutting-edge breakthrough, the Thermal Blade®, leverages the exceptional properties of aerogels to deliver superior thermal protection for battery cells, significantly enhancing their safety and performance.
Dr Vitthaya Inala, Chief Executive Officer at MGT, commented: "We have identified the exceptional capabilities and potential of JIOS' technology in addressing the unprecedented demand for battery materials. We are enthusiastic about our investment in this highly innovative organisation."
Mr Sidney Chew, Managing Director of MegaChem, also expressed his enthusiasm, saying, "JIOS Aerogel has demonstrated the effectiveness of their distinctive and cost-efficient approach to aerogel manufacturing. We are eager to support JIOS as they rapidly expand to seize the opportunities emerging in the electric vehicle market."
JIOS Aerogel has chosen Singapore as the location for its first automotive component manufacturing facility, complemented by its Innovation Centre, inaugurated in 2020. This state-of-the-art plant will employ JIOS' automated production process, a breakthrough developed with support from the Singapore Economic Development Board (EDB). The production engineering for this facility has been entrusted to EDAG Production Solutions GmbH & Co KG, a versatile team of approximately 1,300 professionals specialising in developing production plants. EDAG Production Solutions GmbH & Co KG is a part of the EDAG Group, the largest independent development service provider in the global mobility industry, boasting a workforce of over 8,400 skilled individuals.
About JIOS Aerogel
JIOS Aerogel (JIOS) is the world's leading manufacturer of silica aerogel powder. Headquartered in Singapore, the company was founded in 2013 to pioneer a new process that dramatically lowers the cost of aerogel production. JIOS is on a mission to accelerate the adoption of aerogels to improve the safety and performance of electric-vehicle (EV) batteries. Recognised globally as the premier technology for mitigating thermal runaway in lithium-ion batteries, aerogels provide an ultra-thin insulation layer between battery cells, offering exceptional thermal protection at high temperatures. For more information, visit www.jiosaerogel.com
About MegaChem (Thailand) Public Company Limited
Megachem (Thailand) was founded in 1992 in a joint-venture agreement as a specialty chemicals distributor aimed to provide unrivalled services and product innovations to the growing industrial market in Thailand. The company distributes a variety of chemicals in industries including coatings, adhesives and sealants, polymers, metal finishing, construction, plastics, pharmaceutical, home care, personal care, food supplements, and animal nutrition. To align with the heavily industrialized and growing demands of Thailand, the company strives to provide a holistic solution to meet the customers' needs. For more information, visit www.megachem.co.th
About MegaChem Limited
Established in 1988, MegaChem is a one-stop specialty chemical solutions provider. We provide integrated value-added services including distribution and contract manufacturing of specialty chemicals to meet our customers' requirements.
The Group distributes its products globally through its extensive distribution network in Singapore, Malaysia, Indonesia, Thailand, the Philippines, Vietnam, Myanmar, China, India, the Middle East, Australia and the United Kingdom.
MegaChem distributes over 1,000 different types and grades of specialty chemicals, with a wide range of applications to an established and diversified base of more than 2,000 industrial customers, comprising mostly well-known multinational companies. The Group serves a wide spectrum of industries including water treatment, metal finishing, construction, oil and gas, food, beverage, flavours, fragrance, pharmaceuticals, polymers, coatings, electronics, rubber and plastics.
To enhance the Group's competitive edge and complement its strength in distribution, MegaChem provides integrated services such as the contract manufacturing of specialty chemicals and other ancillary services for its customers. For more information, please visit www.megachem.com.sg
