Himadri Specialty Chemical picks up 12.8% stake in Sicona

1 Jun 2023 , 09:54 AM

Himadri Specialty Chemical has informed the bourses that it has acquired a 12.80% stake in Sicona Battery Technologies, based in Sydney. The company has completed the said acquisition for a consideration of 10.3 million Australian Dollars (Rs 57 crore). 

Sicona has specialization in high-capacity silicon anode technology for lithium-ion batteries which aids in increasing the energy density of batteries. Sicona has created an advanced battery materials technology that enhances the anodes, or negative electrodes, of lithium-ion (Li-ion) batteries. This innovation contributes to the progress of electric transportation and the storage of renewable energy.

Himadri stated that its decision to invest in Sicona is consistent with its vision of producing high-quality anode materials and strengthens its commitment to exploring innovative battery material technologies. 

This investment by Himadri will speed up the development of products and technology for Sicona and accelerate the commercialization of this technology.

Himadri will have two nominee directors on Sicona's board as part of its strategic investment, allowing close collaboration and synergy between the two companies.

Currently, Sicona’s silicon-composite anode technology delivers 50-100% more capacity than the traditional graphite anodes and its anode materials have the ability to deliver 50% higher cell energy density than existing Li-ion batteries.

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