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As early as in 2009, BASF Future Business GmbH has established a partnership with Sion Power. Both parties intend to jointly fund the commercialization of lithium-sulfur batteries. Lithium-sulfur batteries are mainly used for electric vehicles, plug-in hybrid vehicles and other new energy sources.
The acquisition of Sion Power will help BASF develop electrolyte formulations and anode materials for lithium-ion batteries. BASF has established a new “Battery Materials†global business unit on January 1, 2012 to integrate the existing and future battery-related electric vehicle business. The newly established battery materials division is integrated into the BASF Catalysts business unit.
BASF had previously stated that it plans to invest heavily in research and development of advanced battery materials before 2016, including lithium-sulfur battery technology that is still in the early stages of development.
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BASF announced that it has acquired a stake in Sion Power for US$50 million. Sion Power is headquartered in Tucson, Arizona, and specializes in the development of lithium-sulfur batteries.