BASF and FDK Corporation set to develop rechargeable battery materials
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. Both companies see an immediate 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. Per the agreement, Ovonic will oversee all research and development, while FDK will handle manufacturing and marketing of products.
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