Sion Power Plugs Into $50M From BASF

Tucson-based Sion Power, which is developing lithium-sulfur (Li-S) batteries, announced this morning that it has scored a $50M, equity investment from chemicals giant BASF. Sion Power said the investment follows an existing, joint development agreement with BASF, which it inked in 2009. Sion Power is targeting its rechargeable batteries for the portable power and electric vehicle markets. BASF's joint venture with Sion is aimed at helping commercialize Sion's batteries for the electric and plug-in electric vehicles market. More information »