A lithium-ion capacitor joint venture between Japanese firms Asahi Kasei and FDK will be dissolved after failing to reach its projected goals.
The companies have agreed to dissolve Asahi Kasei FDK Energy Device Co., Ltd. (AFEC) after more than three and a half years business on June 30, 2015.
Asahi Kasei and FDK will manage the business independently, with each party focusing on its own respective management strategy. Asahi Kasei will transfer all its shares in AFEC to FDK on June 30.
The move comes after the pace of expansion of the lithium-ion capacitor (LIC) market was slower than expected, especially when compared to other energy storage devices, said Ashai Kasei and FDK in a statement.