BASF Acquires Ovonic Battery Company
BASF has acquired Ovonic Battery Co., a wholly owned subsidiary of Energy Conversion Devices Inc., based in Rochester Hills, Mich. No financial details were provided.
Ovonic’s principal activities have been licensing its advanced battery technologies - including nickel-metal-hydride (NiMH) and lithium-ion (Li-ion) technologies - participating in joint development programs to support application of advanced battery technologies and and manufacturing mixed-metal hydroxide cathode materials for sale to its licensees for use in battery production. Ovonic has developed NiMH rechargeable battery technology that is used globally in many hybrid-electric vehicles.
Ovonic will be managed under BASF’s new Battery Materials global business unit, which was launched Jan. 1. The single operating unit will be managed by BASF’s Catalysts division, based in Iselin, N.J. In addition to BASF’s current activities in electrolyte formulations and Li-ion cathode materials development, it said it is exploring next-generation battery materials concepts, including lithium-sulfur technologies. It is now in early stage development with partner Sion Power, in which BASF recently invested $50 million to take an equity ownership stake.
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