Johnson Matthey says it has entered into an agreement to acquire the battery materials business of Clariant for US$75m.

The transaction, which is expected to complete early in 2015, covers all of the assets of Clariant’s Energy Storage business including its manufacturing facility in Candiac, Quebec, an R&D centre and pilot plant in Moosburg, Germany, together with the customer order book and an IP portfolio.

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The business, which employs around 100 people, is a supplier of lithium iron phosphate (LFP) cathode material to the lithium-ion (Li-ion) battery sector for both automotive and non-automotive applications.

As part of the transaction Johnson Matthey will gain rights to basic patents on LFP and its use as a cathode material, as well as a number of other important patents relating to LFP.

In addition, Johnson Matthey is acquiring a portfolio of IP covering current and future battery materials from Clariant and an unnamed R&D group.

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