Himadri inks pact with Aussie firm for lithium tech, says 10-12% IBC stake talks speculative
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 ₹81 crore for an undisclosed additional stake in
Australian battery materials firm
Sicona Battery Technologies
. This investment would be made apart from the 12.39 per cent stake of Sicona that Himadri bought in 2023 at ₹58 crore.
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.
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 ₹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
.
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