Himadri invests mn for stake in Australia battery tech firm
POWER & RENEWABLE ENERGY

Himadri invests mn for stake in Australia battery tech firm

On Wednesday, Himadri Speciality Chemical announced that it has purchased a 12.79 percent ownership in Sicona Battery Technologies Pty Ltd for AUD 10.32 million.

According to Himadri, a specialty chemicals company, Sicona is a Sydney-based company with a technology used in the anodes (negative electrodes) of lithium-ion (Li-ion) batteries used for transportation and storing renewable energy.

According to Sicona, an Australian Institute for Innovative Materials (AIIM)-developed silicon- composite battery anode materials technology has been commercialised.

Comparing the technology to traditional graphite anodes, it offers a capacity increase of 50% to 100%. According to Himadri, its anode materials can produce a cell energy density that is more than 50% higher than that of conventional Li-ion batteries.

Sicona's board of directors will contain two nominated directors from Himadri.

"It gives us great pleasure to own a portion of Sicona Battery Technologies. Anurag Choudhary, chairman & managing director of Himadri Speciality Chemical, stated that Sicona's innovative research and highly efficient, scalable manufacturing method for silicon anodes fully fit our strategic goals.

On Wednesday, Himadri Speciality Chemical announced that it has purchased a 12.79 percent ownership in Sicona Battery Technologies Pty Ltd for AUD 10.32 million. According to Himadri, a specialty chemicals company, Sicona is a Sydney-based company with a technology used in the anodes (negative electrodes) of lithium-ion (Li-ion) batteries used for transportation and storing renewable energy. According to Sicona, an Australian Institute for Innovative Materials (AIIM)-developed silicon- composite battery anode materials technology has been commercialised. Comparing the technology to traditional graphite anodes, it offers a capacity increase of 50% to 100%. According to Himadri, its anode materials can produce a cell energy density that is more than 50% higher than that of conventional Li-ion batteries. Sicona's board of directors will contain two nominated directors from Himadri. It gives us great pleasure to own a portion of Sicona Battery Technologies. Anurag Choudhary, chairman & managing director of Himadri Speciality Chemical, stated that Sicona's innovative research and highly efficient, scalable manufacturing method for silicon anodes fully fit our strategic goals.

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