Darmstadt, Germany- German pharmaceutical and chemical company Merck KGaA announced Tuesday that it is selling its electrolytes business for batteries to BASF SE for an undisclosed sum.
This investment circumscribes the technologies and products for enhancing battery power that Merck has created, patented, and brought to market. These items include finished electrolyte formulations that are featured under the SelectiLyte® brand. Also featured is a variety of concoctions for electrolytes used for the production of lithium-ion batteries.
“The electrolytes business, which we have built over the years, is in the early phase of its commercialization and has little in common with our other Chemicals activities. In addition, it only meets a fraction of the overall needs of customers who manufacture batteries,” said Dr. Klaus Bofinger, Head of the Advanced Technologies unit. After the new formation of the world renowned Battery Materials business unit BASF will present itself as being solution oriented partner to other battery producers. In this context the electrolytes business of Merck will represent an important element.
