Himadri inks pact with Aussie firm for lithium tech, says 10-12pc IBC stake talks speculative
The company, however, termed the talks on buying a 10-12 per cent stake in US-based lithium-ion battery cell maker International Battery Company (IBC) as speculative.
This investment would be made apart from the 12.39 per cent stake of Sicona that Himadri bought in 2023 at Rs 58 crore.
Kolkata, May 14 (PTI) Himadri Speciality Chemical Ltd on Wednesday said that in a bid to strengthen its lithium-ion battery material business, it has decided to pump in additional Rs 81 crore for an undisclosed additional stake in Australian battery materials firm Sicona Battery Technologies.
The Indian speciality chemicals maker has also entered into an exclusive technology licensing agreement with the Australian firm to bring next-generation silicon-carbon anode technology to India that aims at improving energy density by 20 per cent and reducing charging time.
Under the agreement, Himadri will get exclusive rights to access, localise and commercialise Sicona's proprietary anode technology in India, which may significantly enhance lithium-ion battery performance, a company statement said.
Himadri will invest an additional Rs 81.48 crore (approx AUD 15 million) in Sicona through Compulsorily Convertible Notes (CCNs). The conversion will be over 18 months, and the price is not yet fixed, officials said.
Explaining the tie-up with Sicona, the company stated that the material, when blended with traditional graphite in ratios of 5-20 per cent, increases energy density by 20 per cent and improves charging performance by 40 per cent, a feature that addresses key concerns around EV range and fast-charging capabilities.
Himadri management in a concall said that the company will continue to remain focused in the domain of lithium-ion battery materials. PTI BSM NN
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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