Johnson Matthey Sells Another Part of its Battery Materials Business to EV Metals

Johnson Matthey plc of England has entered into an agreement for the sale of part of its Battery Materials business to EV Metals Group of Australia. The sale includes Johnson Matthey’s assets at the Battery Technology Centre in Oxford and Battery Technology Centre and pilot plant in Billingham, both in England, and a research centre in Moosburg, Germany and a partly-constructed site in Konin, Poland.

The sale also includes Johnson Matthey’s eLNO technology, underpinned by the GEMX and CAM-7 cathode platforms that the company licensed from CAMX of Lexington, MA.

The Battery Materials business will be sold for a total consideration of £50 million (US$63 million) in cash and Johnson Matthey will receive a minority equity stake in EV Metals.

Liam Condon, Johnson Matthey’s CEO, said, “Johnson Matthey made the decision to exit Battery Materials due to insufficient returns, increased commoditization of battery materials combined with the need for very high capital investments to remain competitive. With EV Metals Group vision and capability to be a fully integrated battery chemicals business, I am very confident that they are the right owner for the Battery Materials business going forward.”

Volume 26, Issue 10

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