BASF, Foosung and Arsenal Capital Partners have declared that BASF has purchased Ohio-based Novolyte Technologies, a producer of electrolyte formulations for lithium-ion batteries. BASF has acquired Novolyte Technologies from Arsenal.
The energy storage works of Novolyte focusing on development and production of electrolyte formulations for use in lithium-ion batteries are included in the acquisition. BASF acquires the performance materials business of Novolyte, wherein aryl phosphines, custom-made specialties and high-performance solvents are included in the portfolio. Novolyte’s ten patent families in the performance chemicals and electrolyte formulation fields are included in BASF’s acquisition. BASF and Foosung will continue a joint venture with Novolyte. Korea-based Foosung is manufacturer of Lithium Hexafluorophosphate (LiPF6), which is a main material used for producing lithium-ion battery electrolytes.
The production sites of Novolyte are located in Louisiana and China. The joint venture between BASF and Foosung will operate an additional LiPF6 production location, which is being constructed in China.