Electric Vehicles

BASF Invests $50M to Acquire Equity Ownership in Li-S Battery Developer

January 17, 2012

ISELIN, NJ -- BASF announced it has invested $50 million to acquire an equity ownership position in privately held Sion Power, an Arizona-based developer of lithium-sulfur (Li-S) batteries.  

This equity partnership expands upon an existing joint development agreement that BASF Future Business GmbH established with Sion Power in 2009. That agreement’s goal was to accelerate commercialization of Sion’s Li-S battery technology for electric vehicles and other high-energy applications over the next decade.

“Our investment in Sion Power supports our long-term objective of becoming the leading provider of functional materials and components to serve cell and battery manufacturers worldwide,” said Frank Bozich, president of BASF’s global catalysts division. 

To learn more about the potential of Li-S battery technology, click here

Comment On This Story

Name:  
Email:  
Comment: (Maximum 10000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

 

FleetFAQ

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All
 

Grants & Subsidies

Alternative Fueling Station Locator

Alternative Fueling Station Locator

Find your closest station or plan a route. Locate biodiesel, electric, ethanol, hydrogen, compressed natural gas (CNG), liquified natural gas (LNG), and propane across America.

Start Your Search