Ovonic Battery Company, a division of Energy Conversion Devices, Inc., was acquired by BASF. Quarton Partners acted as the exclusive financial advisor to Energy Conversion Devices in managing the sale process.
Ovonic Battery Company, Inc. is the inventor, developer and worldwide licensor of NiMH battery technology. Not only does Ovonic manufacture battery cathode materials for sale to licensees, but it continues to innovate advanced materials to expand markets for NiMH batteries in consumer, vehicle and stationary fields of use. Through its innovative R&D, Ovonic has established a proprietary position applicable to cathode materials for lithium-ion batteries and to next generation batteries such as very high energy MH-Air (Proton-ion) batteries.
BASF is the worlds leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products, and agricultural products to oil and gas. As a reliable partner, BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges, such as climate protection, energy efficiency, nutrition and mobility.