German chemical group BASF and Japan's Toda Kogyo Corp. have closed a joint venture deal that establishes their new BASF Toda Battery Materials LLC subsidiary.
The new company will provide cathode active materials (CAM) for lithium-ion batteries in Japan. BASF Toda was established with 66% equity from BASF Japan Ltd. and 34% from Toda Kogyo.
Based in Japan, the joint venture will operate as part of BASFs global Battery Materials business and conduct research and development, production, marketing and sales for a broad range of cathode materials, particularly NCA (nickel cobalt aluminum oxide), LMO (lithium manganese oxide) and NCM (nickel cobalt manganese).
The materials are used in lithium-ion batteries for the automotive, consumer electronics, and stationary storage markets. Internationally, the company will leverage BASFs global network and reach to drive growth in the battery materials market, which BASF has identified as a key growth field for the future.
Kenneth Lane, president of BASFs Catalysts division, said, "BASF brings global strength in cathode active materials to this new venture, together with a 150-year history of innovation. We look forward to developing the business in Japan, which is a global leader in lithium-ion battery manufacturing and innovation."
Toda Kogyo President Shigeru Takaragi added, With the formation of this joint venture we are ready to respond in a flexible and timely manner to the globally expanding cathode materials market for lithium-ion batteries." Takaragi added that BASF and Toda would combine resources to take full advantage of synergies in order to provide more innovative solutions to meet customer needs and demands.
The companies appointed Yasuo Anno, who most recently served as associate senior corporate executive officer at Toda Kogyo as well as president of Toda Energy Materials, as CEO of the new venture.
Headquartered in Minato-ku, Tokyo, BASF Toda Battery Materials has production facilities in Sanyo-Onoda city, Yamaguchi Prefecture, and Kita-Kyushu city, Fukuoka Prefecture. The company has an employee base of some 80 people and an annual combined production capacity for cathode active materials and their precursors of approximately 18,000 metric tons.
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