Wacker Chemie AG: WACKER Acquires a Stake in UK Battery Materials Specialist Nexeon
Munich and Abingdon, September 12, 2019 - Wacker Chemie AG is intensifying its research activities on silicon-based materials for high-performance batteries by taking a holding in Nexeon Ltd. The Munich-based chemical company announced today that it is acquiring a 25 percent stake in the UK specialist for new battery materials. WACKER and Nexeon have agreed not to disclose the purchase price. Nexeon develops, produces and sells innovative, silicon-based anode materials that significantly enhance the performance of lithium-ion batteries. WACKER has conducted research in this area since 2010 and has cooperated with Nexeon already in 2013.
"Today's agreement is a key step in strengthening our activities in silicon-based anode materials for next-generation batteries by putting them on an even broader base," said Christian Hartel, responsible for R&D on WACKER's Executive Board. "On the one hand, it means we can intensify and further develop WACKER's own successful research in this field. On the other hand, this stake reinforces our cooperation with Nexeon as we jointly develop supplementary material strategies. WACKER is ideally positioned to develop and produce these innovative materials, given our decades of in-depth expertise in silicon chemistry."
"At Nexeon, we greatly look forward to intensifying our successful cooperation with WACKER," said Scott Brown, Nexeon CEO. "We are a leader in developing silicon materials to replace the carbon anode in lithium-ion batteries. With WACKER at our side, we have a strong partner supporting us as we move forward with product development and commercialization."
High-performance lithium-ion batteries are vital for applications in mobile devices, such as smart phones and tablets, and in electric vehicles. Silicon materials have the highest known storage capacity for lithium ions, which means they can significantly improve the energy density and performance of such batteries.
Nexeon Ltd is a UK headquartered battery material and licensing company focused on delivering innovative and cost-effective silicon anode materials that enable significantly better batteries. Nexeon works with OEMs and battery companies to enable next generation lithium-ion batteries, and has an established application engineering facility in Yokohama, Japan. The company's materials are made with manufacturing scalability and sustainability in mind.
WACKER is a globally-active chemical company with some 14,500 employees and annual sales of EUR4.98 billion (2018). With a wide range of state-of-the-art specialty products, WACKER is a leader in numerous industrial sectors. Its products are required in countless high-growth end-user sectors, such as photovoltaics, electronics, pharmaceuticals and household/personal-care products. WACKER has a network of 24 production sites and 22 technical competence centers in Europe, the Americas and Asia, and some 50 sales offices worldwide. Wacker Chemie AG's shares are listed on the Frankfurt Stock Exchange.
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12.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Wacker Chemie AG Hanns-Seidel-Platz 4 81737 München
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