Issue Date: January 16, 2012
BASF Backs Sion Power
BASF has taken a $50 million equity stake in Sion Power, a privately held battery materials company based in Tucson. Sion claims that its lithium-sulfur battery has more than twice the energy capacity of a lithium-ion battery at half the weight. The two firms have had a joint development agreement going back to 2009. In April 2010, Sion received a $5 million Department of Energy Advanced Research Projects Agency-Energy grant to develop its lithium-sulfur batteries to power electric vehicles. BASF says the work with Sion complements its efforts to develop a battery materials business.
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