Johnson Matthey Sells Part of Battery Materials Business for 63-Million-Dollars

Business Deal Johnson Matthey Sells Part of Battery Materials Business for 63-Million-Dollars

01.06.2022 Source: Press release Ahlam Rais

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Johnson Matthey has sold part of its battery materials business to EV Metals Group. The deal includes the company’s assets at the Battery Technology Centre in Oxford & Battery Technology Centre as well as pilot plant in Billingham; a research centre in Moosburg, Germany; the partly constructed site in Konin, Poland and the firm’s Elno technology.

The transaction is expected to complete over Summer 2022.
(Source: Pixabay)

London/UK – Johnson Matthey has entered into an agreement for the sale of part of its Battery Materials business to EV Metals Group, a global battery chemicals and technology business. The sale includes Johnson Matthey’s assets at the Battery Technology Centre in Oxford & Battery Technology Centre and pilot plant in Billingham, a research centre in Moosburg, Germany and the partly constructed site in Konin, Poland. The sale does not include Johnson Matthey’s LFP facility in Canada, which will be acquired by Nano One, as announced earlier.

The sale also includes Johnson Matthey’s Elno technology, underpinned by the Gemx and Cam-7 cathode platforms that the company licensed from Camx. EV Metals Group will continue to develop Elno. The Battery Materials business will be sold for a total consideration of 63 million dollars (50 million pounds) in cash and Johnson Matthey will receive a minority equity stake in EV Metals. The transaction is expected to complete over Summer 2022.

Liam Condon, Chief Executive of Johnson Matthey, says: “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. This important divestment means Johnson Matthey can now focus on our core portfolio.”

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