BASF acquires Novolyte

MAIN FACTS:

-The company has 167 employees and operates sites in the U.S. and China.

-Novolyte Technologies makes electrolyte formulations for lithium-ion batteries, as well as specialty chemicals for several market segments.

-The acquisition comprises Novolyte’s energy storage activities focused on developing, producing and marketing performance electrolyte formulations for lithium-ion batteries, as well as Novolyte’s performance materials business.

-The acquisition includes 10 patent families in the fields of electrolyte formulation and performance chemicals.

-Within the framework of the acquisition, BASF will continue a Novolyte joint venture with Korea’s Foosung Co., Ltd., producer of the high-purity specialty salt Lithium Hexafluorophosphate, a key material for manufacturing lithium-ion battery electrolytes.

-"Our acquisition of Novolyte Technologies further positions BASF to achieve its long-term objective of becoming the leading provider of functional materials and components to serve cell and battery manufacturers worldwide," said Ralf Meixner, Senior Vice President of BASF’s Global Battery Materials Business.

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