Novolyte Technologies is a manufacturer of electrolyte formulations for lithium-ion batteries and specialty chemicals.
BASF Research executive director, member of the board of executive directors said the recent acquisition positions the company as a global supplier of lithium battery electrolytes with production sites in Europe, the United States and Asia Pacific region.
"The acquisition also complements our current offering of amines, diols, organic acids, polyalcohols and specialties and strengthens our footprint in the North American market."
The acquisition comprises Novolyte’s energy storage activities, performance materials business portfolio which includes aryl phosphines, high-performance solvents and custom-made specialties.
The acquisition includes ten patent families in the fields of electrolyte formulation and performance chemicals held by Novolyte.
Under the terms of the acquisition deal, BASF will continue a joint venture of Novolyte with Korean partner Foosung, a producer of the high-purity specialty salt Lithium Hexafluorophosphate (LiPF6), which is used in manufacturing lithium-ion battery electrolytes.
Novolyte operates production sites in Baton Rouge in Louisiana, US and in Suzhou, China.
It is also constructing an additional site for LiPF6 production, which is currently under construction in Nantong, China, to be operated by the Foosung/BASF joint venture.
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