Westlake Innovations Invests in Universal Matter

HOUSTON--(BUSINESS WIRE)-- Westlake Innovations, Inc., a subsidiary of Westlake Corporation (NYSE: WLK), today announced the company has invested in Universal Matter, Inc. The Burlington, Ontario-based company’s vision is to become the leading supplier of high-quality and sustainable graphene and advanced materials to help decarbonize the planet. Westlake’s action builds upon the company’s commitment to helping develop a more sustainable future through continuous improvement its own manufacturing as well as strategic investments in innovative technologies and startup firms.

Universal Matter has pioneered and patented Flash Joule Heating (FJH) technology that allows for cost-effective, industrial-scale upcycling of carbon waste streams into high-quality graphene and graphitized carbon. First developed at Rice University, Universal Matter’s FJH technology creates graphene that is tunable across 1D, 2D, and 3D morphologies, granting superior properties that are critical for large industrial applications.

Universal Matter has also developed the ability to disperse the graphene in a variety of liquid or solid mediums, making it easier for customers to incorporate graphene into their downstream industrial products and achieve performance improvements for essential materials such as asphalt, concrete, rubber, composites, paints, and coatings.

“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,” said John Chao, Senior Vice President and Managing Director of Westlake Innovations. “We look forward to working with Universal Matter and its management team as it moves forward on development and commercialization of its flexible technology.”

About Westlake

Westlake Innovations, Inc. was formed in 2021 to facilitate the company’s potential investments in new technologies and pursue innovative digital, mechanical or chemical applications such as carbon sequestration or recycling. Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, with operations in Asia, Europe and North America, we provide the building blocks for vital solutions — from housing and construction, to packaging and healthcare, to automotive and consumer. For more information, visit the company's web site at www.westlake.com.

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Chip Swearngan

mediarelations@westlake.com

1- 713-960-9111

Source: Westlake Corporation