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Haldor Topsøe acquires 18% of Na-ion battery company Faradion Ltd
12 February 2014
Haldor Topsøe A/S, a global market leader in catalysis and related process technologies, recently acquired 18% of the shares in sodium-ion battery technology company Faradion Ltd, based in Sheffield, UK. As part of the investment, Haldor Topsøe will collaborate with Faradion to further co-develop and scale up key parts of the company’s sodium-ion (Na-ion) technology. Furthermore, the investment provides Haldor Topsøe the right to manufacture and sell cathode materials for sodium-ion batteries under license from Faradion. Other partners in the investment included Finance Yorkshire’s Seedcorn Fund and Rising Stars Growth Fund II LP.
Faradion was founded in 2010 with the objective to develop a low-cost sodium-ion battery technology capable of reducing the cost of energy storage in a range of applications related to renewable energy, stationary storage and transportation. Haldor Topsøe is the second corporate investor to invest in Faradion; a leading multinational electronics and energy company invested in a minority stake in late 2012.
Sodium-ion batteries represent a potential direct replacement for some lithium-ion batteries, allowing current Li-ion manufacturers to use existing equipment to construct batteries using next-generation Na-ion materials. Over the last three years Faradion has filed twelve patent applications covering various aspects of its proprietary technology platform.
The relationship with Haldor Topsøe provides us with a fast-track route to bring our proprietary materials to market in commercial quantities. Haldor Topsøe’s experience of large scale manufacturing of highly similar materials will enable the future users of our technology to secure high quality materials in commercial volumes at competitive prices.—Chris Wright, CEO Faradion Ltd.
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