BASF, Arsenal Capital Partners and Foosung announced on April 26 that BASF has successfully acquired Novolyte Technologies. Through the acquisition of BASF as a global supplier of lithium battery electrolyte.
The acquisition covers Noraite's energy storage business and specialty materials business: The former is mainly dedicated to the development, production and sales of lithium battery electrolytes, while the latter is a specialty chemical, mainly including aryl phosphine, high-performance solvents and custom specialty products. Products and so on. BASF acquired Norgate from the American private equity fund Arsenal Capital Partners. According to the agreement of both parties, the financial details of the transaction are not disclosed.
Through this acquisition, BASF also obtained 10 patents owned by Norit in the field of electrolyte formulation and specialty chemicals. In addition, BASF will continue to maintain a joint venture with Korea's high-purity specialty salt lithium hexafluorophosphate (LiPF6) producer within the acquisition framework. Lithium hexafluorophosphate is an important material for producing electrolytes, which are key functional components in lithium-ion batteries. In recent years, the application of lithium-ion batteries in the automotive, consumer goods and industrial markets has seen rapid development.
Norit has production facilities in Baton Rouge, Louisiana and Suzhou, China. The LiPF6 plant in Nantong, Jiangsu Province is currently under construction. The plant will be operated by a joint venture between Houcheng and BASF.
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