Wacker Chemie AG

09/12/2019 | Press release | Distributed by Public on 09/12/2019 02:36

WACKER Acquires a Stake in UK Battery Materials Specialist Nexeon

'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.

About Nexeon

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.

About WACKER

WACKER is a globally-active chemical company with some 14,500 employees and annual sales of €4.98 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.