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BASF Announces Equity Partnership in Sion Power

Chemical company, BASF has announced that it will acquire US based Sion Power, which specialises in the development of lithium-sulfur batteries, with an investment of $50 million. This is a further extension to a joint development agreement already in place between the two companies from 2009 for the commercialisation of Sion Power’s Li-S battery for use in plug-in electric vehicles and other applications involving high levels of energy.

The agreement with Sion Power is expected to enhance the existing activities carried out by BASF in the fields of electrolyte formulations and development of materials for lithium- ion cathode. BASF recently started an advanced manufacturing plant for cathode materials in Elyria, Ohio. The facility was launched to combine BASF’s current and future activities in batteries into a single unit which will be managed by the Catalyst division of BASF located in New Jersey.

BASF had also announced recently that it will invest a substantial amount of money in research and development of advanced battery materials up to 2016. The company is also under initial developmental stages for lithium-sulfur and is also investigating next-generation battery material concepts.

According to Dr. Leo Guthart, Chairman of Sion Power, the partnership will enable both companies to work together towards the development of electromobility.

Source: http://www.basf.com

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