HHP Summit 2017

Merck

BASF Buys Big into Battery Materials: Sion Power, Ovonic, Merck in 2012

February 26, 2012 in EVs, Hybrids by rich  |  No Comments

Germany’s BASF is taking advantage of government support for electric vehicles and deepening relationships with the likes of Daimler-Mercedes and Bosch. It is fast building a global Battery Materials business unit via more than $108 million in acquisitions just this young year.

BASF last month disclosed an investment of $50 million to take equity ownership position in Sion Power, Tucson-based “global leader in the development of lithium-sulfur” batteries.

NiMH -- nickel metal hydride -- battery technology developed by ECD-Ovonic powers most of the world's hybrid electric vehicles, including Toyota's popular Prius

NiMH — nickel metal hydride — battery technology developed by ECD-Ovonic powers most of the world’s hybrid electric vehicles, including Toyota’s popular Prius

This month it bought Ovonic Battery Company from Energy Conversion Devices (which then filed for Chapter 11) for $58 million, taking over Ovonic’s position as worldwide licensor of nickel metal hydride-NiMH battery technology. BASF hired 35 Ovonic employees, ECD said.

Last week BASF said it acquired the electrolytes business for high-performance batteries from German chemical and pharmaceutical company Merck.

“Our Battery Materials business is focused on advanced battery materials and technologies, not battery manufacturing,” Battery Materials GM Markus Hoelzle said in a release.


-------------------------------
Contact information is only available to premium subscribers. Click here to purchase a subscription.


  • Archives