Himadri invests US$6.7 million in Australia’s Sicona Battery Technologies

India’s Himadri Speciality Chemical has acquired a 12.79% stake in Sicona Battery Technologies, an Australian startup that specializes in high-capacity silicon anode technology for lithium-ion batteries.

June 1, 2023 Uma Gupta

Image: Wikimedia Commons

Himadri, a Kolkata-based specialty chemical conglomerate, has announced its investment of AU$ 10.32 million (US$6.7 million) in Australian startup Sicona Battery Technologies. With this Series A investment, it has raised a 12.79% stake in Sicona.

Sicona, based in Sydney, specializes in high-capacity silicon anode technology for lithium-ion batteries. It has developed next-generation battery materials technology for the anodes (negative electrodes) of lithium-ion (Li-ion) batteries that enable electric mobility and renewable energy storage.

Sicona claims its silicon-composite anode technology can deliver a remarkable 50-100% higher capacity than conventional graphite anodes and its anode materials can provide 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,” stated Himadri.

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.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.