Sicona Signs Transformational Licensing Agreement with Himadri to Scale SiCx® Production

AU$15M investment to accelerate global commercialisation of SiCx® anode technology

SYDNEY, May 21, 2025 /PRNewswire/ -- Sicona, a leading innovator in next-generation battery materials, today announced a landmark strategic partnership and technology licensing agreement with Himadri Speciality Chemical Ltd (BSE: 500184 | NSE: HSCL), one of the foremost specialty chemical conglomerates in India. The deal includes AU$15 million cornerstone investment by Himadri and marks a pivotal milestone in the commercialisation of Sicona's flagship Silicon Carbon anode material, SiCx^®.

The proceeds will be used to expand Sicona's pilot plant operations in Australia and scale up production to meet surging demand for sampling materials from major global cell manufacturers who service the electric vehicle (EV), 3C (consumer electronics, communications and computers), defence and space industries, who are actively qualifying SiCx^® for next-generation battery platforms.

Licensing Deal Overview: Accelerating Global Production

Under the agreement, Himadri will licence the full suite of intellectual property required to establish and operate a SiCx® production facility in India. The plant, which will be fully funded by Himadri, is being fast-tracked to meet rising global demand. Sales from the facility will be targeted primarily in the automotive sector—positioning Himadri and Sicona at the centre of global EV supply chains.

"This deal is transformative for Sicona," said Christiaan Jordaan, CEO and Co-Founder of Sicona. "This partnership enables us to commercialise SiCx® at an unprecedented speed and scale, without shouldering the burden of the first-of-a-kind (FOAK) facility funding alone." Himadri's manufacturing pedigree and global reach make them the ideal partner."

Strategic Benefits: Cost-Effective Global Commercialisation

For Sicona, this licensing model offers a capital-light pathway to revenue generation, accelerating its timeline to commercial scale production. Royalties from SiCx^® sales in India will provide a steady income stream, while Sicona focuses on delivering its own large-scale facilities—cementing Sicona's position as a global leader in Silicon Carbon (Si/C) anode materials.

"This partnership proves that early-stage climate tech startups can overcome the challenges of FOAK commercialisation with the right partners," Jordaan added. "We're now laser-focused on delivering the facilities in India and the USA."

SiCx® Technology Edge

Sicona's SiCx^® is a non-silane, mechanical Silicon Carbon material that delivers industry-leading electrochemical performance. Unlike silane-based products, which rely on expensive, volatile and emissions-intensive gas processes, Sicona's proprietary method uses inert and safe raw materials, allowing for location-agnostic manufacturing and competitive pricing. Furthermore, SiCx® makes no compromise in key specifications and performance.

SiCx^® has been engineered to directly tackle two major barriers to EV adoption: limited range and long charge times. When blended with graphite (typically in proportions of 5–20%+), SiCx^® boosts energy density by over 20% and cuts charge times by more than 40%, all while maintaining compatibility with today's lithium-ion battery manufacturing lines.

These improvements contribute meaningfully to reducing carbon emissions in transport, while also diversifying the critical minerals supply chain away from high-risk, concentrated regions and inputs.

Himadri: A World-Class Manufacturing Partner

With over 30 years of manufacturing excellence, Himadri Speciality Chemical Ltd brings deep experience, robust infrastructure and global distribution capabilities to the partnership. Operating eight zero-liquid discharge pitch facilities and with product availability in around 56 countries, Himadri has established itself as a key player in the advanced materials value chain.

"This collaboration marks a turning point in the world's advanced battery materials journey," said Mr. Anurag Choudhary, Chairman, Managing Director and CEO of Himadri Speciality Chemical Ltd. "Sicona's SiCx^® delivers two core advantages—higher energy density for longer driving range, and faster charging capability that dramatically reduces wait time for EV users."

"By integrating Sicona's technological might with Himadri's global scale and operational excellence, we are creating a blueprint for innovation-led clean energy leadership. We are throwing all our resources behind this project to get it operational on an accelerated timeline."

Global Impact: From Pilot Plant to Global Leader

This agreement is the latest in a string of strategic milestones for Sicona, which recently announced plans to build a 6,500tpa commercial production facility in the southeastern United States with long-term plans to expand capacity there to 26,500 tpa on a single site.

With demand from EV manufacturers continuing to surge, Sicona is now positioned to scale rapidly across three continents—leveraging both direct operations and high-value partnerships to drive global impact.

"We thank Himadri for their unwavering belief in our team, our technology, and our mission," said Jordaan. "Despite challenging capital markets, we are forging ahead, delivering on our goal to be the largest global producer of Si/C materials. This is how we win in climate tech, through smart partnerships, fast execution, and solutions that scale globally."

About Sicona

Founded in 2019 and headquartered in Wollongong, Australia, Sicona is a next-generation battery materials company developing and commercializing advanced Silicon Carbon (Si/C) anode materials. SiCx®, Sicona's flagship product, delivers breakthrough energy density and charging speed for lithium-ion batteries at industry leading cost and scale. Sicona's mission is delivering high-performance battery materials at mass-market scale, aiming to reduce reliance on fossil fuels and mitigate climate change.

About Himadri Speciality Chemical Ltd

Himadri Speciality Chemical Ltd is a global speciality chemical conglomerate with a strong focus on research and development (R&D), innovation and sustainability. As pioneer in the production of lithium-ion battery materials in India, it continuously develops and innovates raw materials of lithium-ion battery value chain. It's diverse product portfolio includes speciality carbon black, coal tar pitch, refined naphthalene, advance materials, SNF, speciality oils, clean power, etc. catering to various industries such as lithium-ion batteries, paints, plastics, tyres, technical rubber goods, aluminium, graphite electrodes, agrochemicals, defence and construction chemicals. Himadri operates in both domestic and international markets, with its products available in around 56 countries across the globe. With a strong commitment to corporate governance, safety and sustainability, it has 8 zero-liquid discharge manufacturing facilities and utilizes in-house clean power for 100% of its electrical energy needs. Himadri is a people first organization and is making a positive impact on the industry, both in India and globally through its focus on innovation fuelled by extensive R&D, new business opportunities and sustainability.

ENDS

For more information, interview requests or images please contact Julian O'Brien, Sicona PR and Comms manager, +61 419 155 376 or jobrien@southbreakmedia.group