BASF invests $50m in US battery firm Sion Power
12 January 2012 14:37 [Source: ICIS news]
HOUSTON (ICIS)--BASF has invested $50m (€39.5m) to acquire an equity stake in Sion Power, an Arizona-based firm focused on the development of lithium-sulphur (Li-S) batteries, the German chemicals major said on Thursday.
The investment builds on BASF’s existing collaboration with privately-held Sion Power, from 2009, to accelerate the commercialisation of Sion’s Li-S battery technology for electric and plug-in electric vehicles.
On 1 January, BASF launched a new global business unit, Battery Materials, to integrate its battery materials-related business within a single operating unit managed by its catalysts division in
BASF added that it expects to start up an advanced cathode materials manufacturing plant in
($1 = €0.79)
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By: Stefan Baumgarten
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