Latest News | Birla Carbon Acquires Belgium-based Nanocyl

New Delhi, Oct 11 (PTI) Aditya Birla group firm Birla Carbon on Wednesday announced the acquisition of Belgium-based Nanocyl SA for an undisclosed amount.

The acquisition will help the Aditya Birla group firm to drive Growth in battery materials for lithium-ion batteries, said a joint statement from Birla Carbon and Nanocyl.

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Birla Carbon is a leading manufacturer and supplier of high-quality carbon solutions.

"The acquisition expands Birla Carbon's presence in the Energy Systems market, creating a leadership position in material critical to Lithium Ion battery performance, along with other conductive applications," the statement said.

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The inclusion of Nanocyl's advanced multi-wall carbon nanotubes (MWCNTs) provides Birla Carbon with a remarkable range of solutions for conductive applications, it added.

Financial details of the deal were not disclosed.

"Birla Carbon has been nurturing a number of innovation opportunities in its effort to realise its multi-prong sustainability agenda. The acquisition of Nanocyl is a clear step towards executing its strategy in that direction. We hope that this partnership will enable Birla Carbon to be a significant player in the emerging energy systems space," Birla Carbon Group Director Santrupt Misra said.

Founded in 2002 in Belgium, Nanocyl's industrial strategy focuses on the current challenges of the energy, transport, and electronic markets while developing sustainable solutions for the rubber market.

"We are proud of our journey to develop and commercialise MWCNTs successfully over the past 20 years as an entrepreneurial startup, with the support of our current partners and investors.

"However, with growing needs for our products, the time has come to join a Global industry leader in order to maximise the synergies and the potential of these materials across many end uses," Nanocyl CEO Laurent Kosbach said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)