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BASF acquires Novolyte Technologies
BASF has acquired Novolyte Technologies a manufacturer based in Cleveland, Ohio (USA).
Novolyte is a manufacturer of electrolyte formulations for lithium-ion batteries, as well as specialty chemicals for several key market segments. With 167 employees, Novolyte operates sites in the United States and China. The financial details of the transaction were not disclosed. Novolyte operates production sites in Baton Rouge, Louisiana, and in Suzhou, China. An additional site for LiPF6 production is currently under construction in Nantong, China, to be operated by the Foosung/BASF joint venture. Both Chinese sites are located in the greater Shanghai area. The acquisition includes 10 patent families in the fields of electrolyte formulation and performance chemicals held by Novolyte. Additionally within the framework of the acquisition, BASF will continue a joint venture of Novolyte with Korean partner Foosung Co., Ltd., a global producer of the high-purity specialty salt Lithium Hexafluorophosphate (LiPF6), a key material for manufacturing lithium-ion battery electrolytes. “With this recent acquisition, BASF is now positioned as a global supplier of lithium battery electrolytes with production sites in Europe, the United States and Asia Pacific region“, said Dr. Andreas Kreimeyer, Member of the Board of Executive Directors and BASF’s Research Executive Director. He added: “The acquisition also complements our current offering of Amines, Diols, Organic Acids, Polyalcohols and Specialties and strengthens our footprint in the North American market.”
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