BASF acquires Ovonic Battery Company

BASF acquires Ovonic Battery Company

8:48 PM, 14th February 2012
BASF acquires Ovonic Battery Company

ISELIN, US: BASF announced that it has acquired Ovonic Battery Company, global leader in nickel-metalhydride (NiMH) battery technology, including the production of cathode active materials (CAMs) for this battery type. Ovonic is the inventor of the NiMH technology, and has a patent portfolio of 97 US and international patents and patent applications in this field. All major producers of NiMH batteries are currently working under license from Ovonic. As part of BASF, Ovonic will be managed under BASF’s new global business unit Battery Materials.

“Our acquisition of Ovonic provides BASF with an immediate leadership position in NiMH battery technology, as well as long-established commercial relationships with the world’s major battery manufacturers. In addition, Ovonic’s proven research expertise provides a strong complement to the broad range of battery materials development activities we currently have underway within BASF,” said Ralf Meixner, Senior Vice President, Battery Materials business, BASF.

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