FLORHAM PARK, NJ, June 20, 2016 – BASF Venture Capital America Inc. today announced it has acquired EnerG2, a manufacturer of advanced carbon materials for next-generation energy storage devices. The two entities have had a strategic partnership since 2014. The financial details of the transaction are not being disclosed.
“Under BASF’s roof, EnerG2 will continue to develop innovative, high-performance materials,” said Dr. Guido Voit, Managing Director of BASF Venture Capital America Inc. “Combining the strengths of both companies unlocks the full potential of EnerG2’s engineered carbons and allows us to grow the business further.”
Engineered carbons enhance storage performance by allowing for higher voltage and energy in supercapacitors and by significantly increasing the durability of lead-acid batteries at a partial-state-of-charge.
EnerG2’s patented carbon technology platform enables large-scale production of carbon materials that surpass the limitations of the carbons traditionally used in energy storage. It allows battery producers to tailor the carbon properties to specific applications in automotive and industrial applications.
“Our strategic partnership with BASF over the past years has led to technological advancements and commercial success,” said Rick Luebbe, co-founder and CEO of EnerG2. “As members of the BASF team, we have the opportunity to expand our operations to support customers on a global scale.”
EnerG2 has offices and laboratories in Seattle, Washington, and a production site in Albany, Oregon.
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has nearly 17,500 employees in North America, and had sales of $17.4 billion in 2015. For more information about BASF’s North American operations, visit www.basf.us.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information at www.basf.com.
About BASF Venture Capital America Inc.
BASF Venture Capital America Inc. is a subsidiary of BASF Corporation and works closely with BASF Venture Capital GmbH and BASF New Business GmbH in Germany. Both entities were established in 2011 with the aim of exploring new growth potentials based on investment in startup companies. More information is available at www.basf-vc.com and www.basf-new-business.com.
EnerG2 has developed a proprietary Carbon Technology Platform that combines polymer- chemistry-based precursor formulation and processing parameters that transform that precursor into customized carbon materials. The combination of these elements results in a flexible process that can produce carbon materials for diverse energy storage applications. EnerG2 operates a manufacturing plant in Albany, Oregon. The facility is both ISO-9001:2008 (Quality Management System) and ISO 14001:2004 (Environmental Management System) certified. Further information on EnerG2 is available at www.EnerG2.com.