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Himadri, Global Speciality Chemical Conglomerate makes strategic investment in Sicona Battery Technologies, Australia

Posted On : 2023-05-31 16:17:33( TIMEZONE : IST )

Himadri, Global Speciality Chemical Conglomerate makes strategic investment in Sicona Battery Technologies, Australia

Himadri, global speciality chemical conglomerate, announced its investment of AU$ 10.32 million in Sicona Battery Technologies.

Sicona, based in Sydney, is an innovative Australian startup specializing inhigh-capacity silicon anode technology for lithium-ion batteries. Sicona has developed next-generation battery materials technology used in the anodes(negative electrodes) of lithium-ion ("Li-ion") batteries that enable electric mobility and storage of renewable energy.

Sicona's current generation silicon-composite anode technology delivers a remarkable 50-100% higher capacity than conventional graphite anodes and its anode materials can deliver more than 50% higher cell energy density than current Li-ion batteries.

Himadri's decision to invest in Sicona aligns with its vision to produce high quality anode materials and reinforces the company's commitment to exploring innovative technologies in the battery material segment. The investment by Himadri will accelerate product and technology development for Sicona and expedite the commercial deployment of this technology.

The technological and advanced capabilities of Sicona align with Himadri's vision to manufacture high-quality anode materials and opens the door for innovation in sustainability. As part of its strategic investment, Himadri will have two nominee directors on Sicona's board, enabling close collaboration and synergy between the two companies.

Commenting on this, Mr. Anurag Choudhary, Chairman & Managing Director of Himadri Speciality Chemical Ltd said: "We are delighted to acquire a stake in Sicona Battery Technologies. Sicona's ground-breaking research and cost-effective & highly scalable approach to silicon anode manufacturing perfectly complements our strategic objectives.

At Himadri, sustainability forms the energy and purpose of our conduct. Sicona is working towards solving some of the most important challenges and needs of the world today. Our investment in Sicona is a strategic fit in this direction and we are extremely confident of Sicona's team and technology and its ability to consistently innovate in the rapidly evolving battery technology landscape."

Sicona founder and CEO Christiaan Jordaan said: "Welcoming one of the leading global speciality chemical companies as a strategic investor in our Series A round allows us to accelerate our mission of becoming a major producer of cost-effective silicon composite anode materials. Himadri has a multi-decade track record of manufacturing materials at scale and their expertise and inputs will be a major asset to us in the next phases of our growth plans. Furthermore, Himadri's current strength in synthetic anode materials has strong synergies with our silicon anode technology.

Our silicon metal-based technology decouples us from the major bottlenecks and cost implications of silane gas-based technologies and provides our customers the confidence that we can deliver a silicon-carbon anode material at a capital intensity and $/kg price which is feasible for mass-automotive market adoption. Himadri has joined hands with us at a very crucial time, as we are expanding in the fast-growing global battery market towards full commercial deployment of Sicona's technology."

Shares of Himadri Speciality Chemical Limited was last trading in BSE at Rs. 125.80 as compared to the previous close of Rs. 124.45. The total number of shares traded during the day was 292009 in over 2814 trades.

The stock hit an intraday high of Rs. 128.70 and intraday low of 122.95. The net turnover during the day was Rs. 36741232.00.

Source : Equity Bulls


HimadriSpecialityChemical INE019C01026 Investment Sicona BatteryTechnologies