BASF acquires materials expert company for Li-ion batteries
With 167 employees, Novolyte operates sites in the United States and China. BASF purchases Novolyte from Arsenal Capital Partners, a U.S.-based private equity firm. The acquisition comprises Novolyte's Energy Storage activities focused on developing, producing and marketing performance electrolyte formulations for lithium-ion batteries.
BASF also buys Novolyte's performance materials business in which the company is among the leading manufacturers of specialty chemicals in North America. The portfolio includes aryl phosphines, high-performance solvents and custom-made specialties. The acquisition includes 10 patent families in the fields of electrolyte formulation and performance chemicals held by Novolyte. Additionally within the framework of the acquisition, BASF will continue a joint venture of Novolyte with Korean partner Foosung Co., Ltd., a global producer of the high-purity specialty salt Lithium Hexafluorophosphate (LiPF6), a key material for manufacturing lithium-ion battery electrolytes. These electrolytes are key performance components in the fast-growing market of lithium-ion batteries for automotive, consumer and industrial markets. The move is part of BASF's strategy to become a leading vendor of battery materials for the emerging electromobility markets.
Novolyte operates production sites in Baton Rouge, Louisiana, and in Suzhou, China. An additional site for LiPF6 production is currently under construction in Nantong, China, to be operated by the Foosung/BASF joint venture. Both Chinese sites are located in the greater Shanghai area.
Innovative materials and functional components are prerequisites for safe, efficient and affordable electromobility. Together with partners in industry and science BASF is developing materials and technologies for next generation lithium-ion batteries as well as for future battery systems. The aim is to reduce the time to market for new solutions to energy storage. A major step on this road is the construction of a manufacturing plant for battery materials in Elyria, Ohio.
Along with battery materials, plastics and composites for lightweight automotive design and solutions for improved heat management, such as IR-reflective pigments for coatings and vehicle interior uses, have major roles to play.
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