Himadri Speciality Chemical Limited has informed the Exchange about Investment in Sicona Battery Technologies Pty Ltd
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Himadri Speciality Chemical's board has approved a further investment of AUD 15 million (approximately INR 81.48 crore) in Australian battery materials firm Sicona Battery Technologies Pty Ltd, through 1.5 crore Compulsorily Convertible Notes (CCNs) to be subscribed in tranches over 18 months. Himadri already holds a 12.52% stake in Sicona via preference shares and 900,000 CCNs. Alongside the investment, the company has signed an exclusive Technology Licensing Agreement giving it the right to manufacture silicon-carbon (SiCx®) anode materials in India using Sicona's proprietary technology. Sicona, incorporated in June 2019, is a pre-revenue company (nil turnover in the last 3 financial years) focused on next-generation lithium-ion battery anode materials for EVs and energy storage. Mr. Anurag Choudhary, a promoter director of Himadri, is also a director at Sicona, but the transaction is not classified as a related-party deal.
The deal positions Himadri in the high-growth EV battery materials space, potentially opening new revenue streams in silicon-carbon anode technology which can boost battery energy density by 20% and charging speed by 40%. This is a positive long-term strategic move aligned with India's energy transition, though investors should note the target is pre-revenue and execution/commercialisation risk remains meaningful.