The investment by Himadri will accelerate product and technology development for Sicona and expedite the commercial deployment of this technology.
31 May 2023 | 5744 Views | By Autocar Pro News Desk
Himadri, a global specialty chemical conglomerate, announced its investment of AU$ 10.32 million in Sicona Battery Technologies. Sicona, based in Sydney, is an innovative Australian startup specialising in high-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 ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
Himadri, a global specialty chemical conglomerate, announced its investment of AU$ 10.32 million in Sicona Battery Technologies. Sicona, based in Sydney, is an innovative Australian startup specialising in high-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 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, Anurag Choudhary, Chairman and Managing Director of Himadri Speciality Chemical said: “We are delighted to acquire a stake in Sicona Battery Technologies. Sicona’s ground-breaking research and cost-effective and highly scalable approach to silicon anode manufacturing perfectly complements our strategic objectives."
Sicona founder and CEO Christiaan Jordaan said: “Welcoming one of the leading global specialty 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.”