BASF invests in equity partnership with Sion Power

Chemical company BASF has invested $50m (£32.6m) to acquire an equity ownership position in privately held Sion Power, a developer of lithium-sulphur (Li-S) batteries based in Tucson, Arizona.

This equity partnership expands upon an existing joint development agreement that BASF Future Business established with Sion Power in 2009 to accelerate the commercialisation of Sion’s proprietary Li-S battery technology for electric and plug-in electric vehicles and other high-energy applications over the next decade.