Press Release

BASF and FDK Corporation to collaborate on joint battery materials development program

Published 12 years ago | About a 4 minute read

BASF and FDK Corporation to collaborate on joint battery materials development program ISELIN, NJ, March 7, 2012 -- BASF Corporation, through its newly acquired battery materials affiliate Ovonic Battery Company, today announced that it has signed an agreement with FDK Corporation (FDK) to jointly develop nickel-metalhydride (NiMH) technologies for stationary power storage applications. With this agreement, FDK has also added an industrial NiMH battery license to its existing consumer license from Ovonic. Financial details of the agreement are not being disclosed. FDK is one of the world’s leading suppliers of primary and rechargeable batteries, including NiMH rechargeable batteries in a wide range of sizes for a large number of consumer applications. “This agreement with FDK further demonstrates Ovonic’s leading technology position and research capabilities in the NiMH market,” said Ralf Meixner, Senior Vice President of BASF’s Battery Materials unit. “We believe Ovonic’s close cooperation with FDK will lead to the expansion of NiMH battery materials technology into a significant new growth market.” “We are pleased to expand our relationship with FDK,” said Michael Fetcenko, Vice President and Managing Director of BASF’s Ovonic affiliate. “We see a sizable near-term market opportunity for NiMH batteries for stationary power storage in the telecommunication and UPS fields, and an even larger opportunity for ‘smart grid’ storage applications over the long term. As part of BASF, Ovonic will continue to advance its NiMH battery technology to deliver improved performance, and we believe FDK is an ideal manufacturing partner to jointly pursue these new market opportunities.” Noriyuki Miyazaki, President of FDK Twicell Co, Ltd. and Corporate Vice President of FDK Corporation stated, “Since purchasing Sanyo’s Twicell manufacturing operations, we have enjoyed a rewarding relationship with Ovonic, and we look forward to extending that cooperation with BASF. Our engineers have begun to work closely with Ovonic’s technologists to understand and implement advances made in NiMH technology. We, too, see the possibility of entering into new markets for NiMH batteries and have selected Ovonic, and now BASF, as our joint development partner of choice, allowing us to continue building close ties between our companies.” About BASF’s Catalysts Division BASF’s Catalysts division is the world’s leading supplier of environmental and process catalysts. The group offers exceptional expertise in the development of technologies that protect the air we breathe, produce the fuels that power our world and ensure efficient production of a wide variety of chemicals, plastics and other products, including advanced battery materials. By leveraging our industry-leading R&D platforms, passion for innovation and deep knowledge of precious and base metals, BASF’s Catalysts division develops unique, proprietary solutions that drive customer success. Further information on BASF’s Catalysts division is available on the Internet at www.catalysts.basf.com. About FDK Corporation FDK Corporation (Tokyo Stock Exchange 2nd Section: Code 6955) designs and manufactures a comprehensive line of batteries, electronic components and electronic devices. FDK’s experience with electronic materials, circuits, and high-density mounting technologies has been cultivated for over sixty years and enables FDK to supply highly innovative, quality products to customers worldwide. Visit us at www.fdk.com. BASF – The Chemical Company BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 16,000 employees in North America, and had sales of $19.9 billion in 2011. For more information about BASF’s North American operations, visit www.basf.us. BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success, social responsibility and environmental protection. Through science and innovation we enable our customers in almost all industries to meet the current and future needs of society. Our products and system solutions contribute to conserving resources, ensuring healthy food and nutrition and helping to improve the quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF posted sales of about €73.5 billion in 2011 and had more than 111,000 employees as of the end of the year. Further information on BASF is available on the Internet at www.basf.com For more information contact: Joseph M. Jones BASF Corporation Catalysts Tel: (732) 205-5557 E-mail: [email protected]