BASF Enters Market for Advanced Carbon Materials With Acquisition of EnerG2

On Jun 20, 2016

Florham Park-based 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.

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