Westlake Corp.'s Westlake Innovations, Inc. unit has invested in Universal Matter Inc., a supplier of sustainable graphene and other advanced materials based in Burlington, Ontario.
In a news release, officials with Westlake in Houston said the investment "builds upon the company's commitment to helping develop a more sustainable future through continuous improvement in its own manufacturing, as well as strategic investments in innovative technologies and startup firms."
The value of the investment wasn't disclosed. Officials said Universal Matter has patented flash joule heating (FJH) technology that allows for industrial-scale upcycling of carbon waste streams into high-quality graphene and graphitized carbon.
The technology first was developed at Rice University in Houston. Officials added that Universal Matter's FJH technology makes graphene that is tunable across one-, two- and three-dimensional morphologies and can be used in large industrial applications.
The firm also has developed the ability to disperse graphene in liquid or solid mediums, making it easier for customers to use the material in downstream industrial products such as asphalt, concrete, rubber, composites, paints and coatings.
Westlake Innovations managing director John Chao said graphene "is a material with a number of potential performance and sustainability benefits that could apply across a number of Westlake's Performance & Essential Materials and Housing & Infrastructure Products business lines."
Westlake Innovations was formed in 2021 to facilitate the firm's potential investments in new technologies and to pursue innovative digital, mechanical or chemical applications such as carbon sequestration or recycling.
Westlake posted sales of $12.5 billion in 2023. The firm's Performance & Essential Materials unit makes PVC and polyethylene resins, while its Housing & Infrastructure Products unit makes PVC pipe and other construction products.
