Himadri Speciality Chemical announced the acquisition
of Sicona Battery Technologies Pty Ltd to enhance the battery technology and to
target the increasing demand for power storage devices.
Kolkata (June 2023): Himadri
Speciality Chemical, an Indian specialty chemicals company, has acquired Sicona
Battery Technologies, an Australian startup that develops silicon anode
technology for lithium-ion batteries. The acquisition is worth AUD 10.32
million (USD 6.7 million) in exchange for 12.79% percent ownership in Sicona
Battery Technologies Pty Ltd.
Sicona's technology uses
silicon, which is a more abundant and less expensive material than graphite,
the current standard for anode material in lithium-ion batteries. Sicona's
present generation silicon composite anode technology has 50-100% higher
capacity than graphite anodes, and the anode material features batteries that
deliver more than 50% more power than existing Li-ion batteries. Silicon anodes
have the potential to offer significant improvements in battery performance,
including longer range and faster charging times.
Himadri's acquisition of
Sicona will help the company to accelerate its development and
commercialization efforts. Sicona will also benefit from Himadri's expertise in
the specialty chemicals industry and its supply chain network in the vast
market in India. The acquisition of Sicona by Himadri is a significant
development in the field of lithium-ion battery technology. It is a sign of the
growing importance of silicon anode technology, and the potential for this
technology to revolutionize the battery industry.
According to the Anurag
Choudhary, Chairman & Managing Director of Himadri Specialty Chemical Ltd. “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 complement 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.” Further,
Christiaan Jordaan, Founder, and CEO, Sicona, commented: “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.”
According to TechSci Research, Himadri's acquisition of
Australian Sicona Battery Technologies is expected to have a positive impact on
the Indian market. The acquisition will give Himadri access to Sicona's silicon
anode technology, which has the potential to improve battery performance and
reduce costs. This could help Himadri to become a more competitive player in
the Indian market, and it could also help to boost the growth of the Indian
electric vehicle market and energy needs.
Improved battery performance: Sicona's silicon anode
technology has the potential to improve battery performance by up to 50%. This
could lead to a longer range and faster charging times for electric vehicles,
which could make them more attractive to consumers.
Reduced costs: Sicona's silicon anode
technology is also more cost effective than traditional graphite anode
technology. This could help to reduce the cost of electric vehicles, making
them more affordable for consumers.
Increased competition: The acquisition could lead
to increased competition in the Indian battery market. This could benefit consumers
by driving down prices and improving product quality.
Boosted growth of the
electric vehicle market: The
acquisition could boost the growth of the Indian electric vehicle market. By
making electric vehicles more attractive to consumers, the acquisition could
help to increase demand for electric vehicles in India.
According to a report published
by TechSci Research, Dimethyl Cyclo-Siloxane
Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028F, Segmented By Application (Silicone Oils,
Silicone Rubbers, Silicone Resins), By End User Industry (Pharmaceuticals,
Cosmetics & Personal Care, Electronics, Textiles, Automotive, Others), By
Region and By Competition, Global Dimethyl Cyclo-Siloxane market is anticipated
to increase at an impressive rate through 2028. Enduring research and
development activities worldwide are pushing it toward sustainable development
to safeguard the ideal and sensible use of resources. This environment is
propelling firms to create innovative products that have no or less harmful to
humans and the environment. As a result, firms are expanding their application
in different sectors, such as the aviation and aerospace industry, automotive
industry, and electronic apparatus.