Other Private Equity/Strategic Investments
Himadri Speciality Chemicals invests addl Rs.18-Cr in Australia’s Sicona Battery Technologies
BSE Announcement Business Line
Himadri Speciality Chemicals has made an additional investment of approximately INR 18 crore in New South Wales-based energy storage company Sicona Battery Technologies . The transaction was executed through the subscription of 25.59 lakh compulsorily convertible notes (CCNs), each with a face value of one AUD.Himadri previously invested INR 98 crore in Sicona Battery Technologies, bringing its cumulative holding to 1,67,53,000 CCNs. Upon the conversion of these notes into equity, Himadri Speciality Chemicals' stake in Sicona could increase to 24%.Sicona specializes in the production of silicon-carbon anode materials designed for lithium-ion batteries. These materials are claimed to improve energy density by 20% and facilitate 40% faster battery charging. The company currently holds 126 global patents.Himadri Speciality Chemicals intends to use this partnership to access, localise, and commercialise this proprietary technology within India as part of its strategy to expand its presence in the EV battery materials market.
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